Medgenics, Inc. Appointed Lord Steinberg Non-Executive Director

  
    
  
  
    
      Medgenics (AIM: MEDG), the US incorporated biopharmaceutical company 
      that was admitted to AIM in December 2007, is pleased to announce the 
      appointment of Lord Steinberg to the Company’s 
      Board, as a non-executive director with immediate effect.
    
    
      A Life Peer and active member of the House of Lords in the United 
      Kingdom, Lord Steinberg is the founder, former Chairman and Life 
      President of Genting Stanley plc (formerly Stanley Leisure plc). Stanley 
      Leisure plc was acquired for a consideration of £639 
      million in 2006 by Genting International Investment (UK) Ltd, part of 
      the Malaysian group Genting Berhad which is listed on the Singapore 
      Exchange. At the time of the acquisition Stanley Leisure plc was the 
      largest casino operator in the UK, owning 45 casinos, 4 in London and 41 
      throughout the rest of the UK.
    
    
      In 1997 and 1998 Lord Steinberg received awards for North West Business 
      Person of the Year. In July 1999 he was awarded an Honorary Doctorate by 
      the University of Salford. He also sits on many charitable committees 
      including Crimestoppers Trust.
    
    
      Commenting on the appointment, Medgenics’ CEO, 
      Dr. Andrew Pearlman said:
    
    
      “Following Medgenics’ 
      successful admission to AIM last month, I am delighted to be able to 
      welcome Lord Steinberg to the Board. He is one of the UK’s 
      most successful and respected businessmen, with substantial experience 
      of the UK stock market. The fact that he has chosen to join the Board of 
      directors of the Company offers great support to Medgenics’ 
      technology, business and overall market opportunity. I and the rest of 
      the Board look forward to the valuable contribution he will make to the 
      Company.”
    
    
      FORMAL DISCLOSURE
    
    
      The Company makes the following formal disclosure in connection with the 
      above–mentioned appointment:
    
    
      Full name: Lord Leonard Steinberg
    
    
      Age: 71
    
    
      
        
          
            Directorships or partnerships current or held in the previous 5 
            years:
          
        
      
      
        
        
        
           
        
        
        
      
      
        
          Current Directorships
        
        
          
             
          
        
        
          Appointed
        
      
      
        
           
        
        
           
        
        
           
        
      
      
        
          Wilbraham Road (Manchester) Trust Limited
        
        
           
        
        
          23 September 2002
        
      
      
        
          Crimestoppers Trust
        
        
           
        
        
          18 May 2005
        
      
      
        
          L Sports Investments Limited
        
        
           
        
        
          23 May 2007
        
      
      
        
          StanleyBet Holdings Limited
        
        
           
        
        
          30 July 2007
        
      
      
        
          StanleyBet Overseas Investments Limited
        
        
           
        
        
          30 August 2007
        
      
    
    
      
        
          Past Directorships
        
        
          Resigned
        
      
      
        
           
        
        
           
        
      
      
        
          British Casino Association Limited
        
        
          17 September 2006
        
      
      
        
          Genting Stanley Plc
        
        
          31 December 2006
        
      
      
        
          Stanley Casinos Limited
        
        
          10 September 2003
        
      
      
        
          Wilstan Racing Limited
        
        
          10 September 2003
        
      
      
        
          Star TYP Investments Limited
        
        
          
            13 November 2007 *
          
        
      
      
        
          
            Livermore Investments Group Limited **
          
        
        
          
            31 October 2006
          
        
      
      
        
        
        
           
        
      
      
        
          (a) date of dissolution of the company - Star TYP Investments 
          Limited did not trade and was struck off pursuant to an application 
          from the company and dissolved on 13 November 2007
        
      
      
        
          (b) a British Virgin Islands company traded on AIM, formerly Empire 
          Online Limited
        
      
    
    
      Save as disclosed above, there is no other information required to be 
      disclosed under Schedule 2, paragraph (g) of the AIM Rules for Companies.
    
    
      Notes to Editors:
    
    
      Medgenics was admitted to AIM on 4 December 2007. The Admission to AIM 
      followed the Company’s successful fund 
      raising with investors, which raised a total of £3.28 
      million.
    
    
      The group’s research & development and 
      administrative operations are conducted by Medgenics Medical (Israel) 
      Limited, the Company’s wholly owned 
      subsidiary, from premises in Karmiel, Israel (together the “Group”).
    
    
      
        The Group is at the clinical trial stage of testing the safety and 
        efficacy of its proprietary ’biological pump’, 
        the “Biopump” 
        and associated technologies (together the “Biopump 
        Platform Technology”).
      
      
        The Biopump is made from a toothpick-sized sample of the patients’ 
        own skin dermal tissue, which is processed outside the body and 
        reimplanted subcutaneously 1-2 weeks later.
      
      
        The Biopump enables patients to produce, on a long-term basis, their 
        own natural human protein therapy. The Biopump is targeted at a range 
        of chronic diseases, including anaemia and hepatitis C.
      
      
        Biopumps are designed to replace costly factory-produced proteins 
        delivered via frequent and painful injections. These injected protein 
        therapies can have associated adverse side effects.
      
      
        The worldwide market for protein therapy was valued at over US $51 
        billion in 2005 and is forecast to reach US $87 billion by 2010. The 
        Directors estimate that the Biopump Platform Technology could 
        potentially be applied to a substantial part of this market.
      
      
        The Directors believe that the Biopump Platform Technology provides a 
        wide range of advantages over existing therapies. These advantages 
        should appeal to, and offer benefits to, doctors, patients and 
        third-party payers (e.g. medical insurers).
      
      
        The Group plans to commence a Phase I/II Clinical Trial aimed at the 
        treatment of anaemia during the second quarter of 2008. In 2006, 
        Erythropoietin (“EPO”) 
        injections for the treatment of anaemia generated revenues of US $11.9 
        billion.
      
      
        The Company expects to obtain key initial safety and proof of efficacy 
        data three-to-five months after the above trial commences.