Medgenics Appoints Vice President of Clinical Affairs
May 07 2008 - 5:25AM
Business Wire
Medgenics (AIM:MEDG), the US-incorporated biopharmaceutical
company, is pleased to announce that it has appointed Dr. Ehud
Shoshani, former CEO of Quintiles, Israel, as its Vice President of
Clinical Affairs. Dr. Shoshani will manage the Company�s Phase I/II
clinical trials with EPODURE, its lead sustained-action protein
therapy to treat anaemia, which is scheduled to start mid-2008
pending approval by the Israel Ministry of Health (MoH). Dr.
Shoshani�s 13 years� experience in managing clinical trials
includes his former position as Chief Executive Officer, Medical
Director and Head of Clinical Operations of the Israel division of
Quintiles, the international contract research organization. In
addition, he has served as Medical Director at Omrix
Biopharmaceutical, a blood products company (NASDAQ:OMRI), and at
Gamida Cell, a stem cell therapy company. Dr. Shoshani was awarded
his MD in 1978 from the Technion Medical School in Haifa, Israel,
and spent the next 16 years specializing in paediatrics, paediatric
oncology and haematology before entering industry. Dr. Andrew
Pearlman, Medgenics� CEO, said: �We are extremely pleased that Dr.
Shoshani has joined the team at this important juncture for the
Company. Building on the successful base of our previous Phase I
trial, Dr. Shoshani�s extensive experience in managing clinical
trials will be highly valuable to Medgenics in completing the
preparations, the launch and the management of our imminent Phase
I/II clinical trial for EPODURE. We look forward to benefiting from
the breadth and depth of his clinical development experience, in
the development of our future clinical programmes for this and our
other pipeline products.� Dr. Ehud Shoshani said: �Medgenics�
biopump technology is a highly innovative approach to treating
chronic diseases and the preclinical and clinical data generated to
date are, in my view, very compelling. This gives me confidence
that the forthcoming trials with EPODURE will be successful, and
will pave the way for future trials to confirm the clinical value
of this and other biopump-based protein therapies for improving
patient treatment by increasing efficacy and safety, reducing side
effects and eliminating frequent injections.� NOTES TO EDITORS:
About Medgenics Medgenics, Inc. is a biopharmaceutical company
developing its unique tissue-based Biopump platform technology to
provide sustained-action protein therapy for the treatment of a
range of chronic diseases. Medgenics currently has two products in
development based on this technology: EPODURE � producing
erythropoietin (EPO) to treat anaemia INFRADURE � producing
interferon-alpha (IFN-?) to treat hepatitis C The Company has
demonstrated proof of principle of the Biopump treatment procedure
in a clinical trial using a short-acting version of EPODURE in
anaemic patients. A long-acting version of EPODURE, designed to
produce and deliver a therapeutic dose of EPO steadily for six
months or more, is scheduled to enter Phase I/II trials in
mid-2008. The Company plans to follow with clinical trials of
INFRADURE in 2009. Medgenics intends to develop its innovative
products and bring them to market via multiple strategic
partnerships with major pharmaceutical and/or medical device
companies, starting with EPODURE and INFRADURE. Beyond these,
Medgenics plans to develop and/or out-license a pipeline of future
Biopump products targeting the large and rapidly growing global
protein therapy market, which is forecast to reach US $87 billion
by 2010. Other potential areas include multiple sclerosis
(interferon-?), haemophilia (Factor XIII), paediatric growth
hormone deficiency (human growth hormone) and diabetes (insulin).
Founded in 2000, Medgenics is a US-incorporated company with major
operations in Misgav, Israel. Medgenics was admitted to AIM in
December 2007 (AIM:MEDG). www.medgenics.com CAUTIONARY NOTICE
REGARDING FORWARD-LOOKING STATEMENTS This release contains
forward-looking statements, which include all statements other than
statements of historical fact, including (without limitation) those
regarding the Company�s financial position, business strategy,
plans and objectives of management for future operations. These
statements relate to future events, prospects, developments and
strategies. Forward-looking statements are sometimes identified by
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or the negative of such terms and other comparable terminology. All
such forward-looking statements are based on current expectations
and are subject to risks and uncertainties. Should any of these
risks or uncertainties materialize, or should any of the Company�s
assumptions prove incorrect, actual results may differ materially
from those included within these forward-looking statements.
Accordingly, no undue reliance should be placed on these
forward-looking statements, which speak only as of the date made.
The Company expressly disclaims any obligation or undertaking to
disseminate any updates or revisions to any forward-looking
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expectations with regard thereto or any change in events,
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As a result of these factors, the events described in the
forward-looking statements contained in this release may not occur.
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