Medgenics Comments on Market Trading Activity (1946C)
April 27 2012 - 2:00AM
UK Regulatory
TIDMMEDG TIDMMEDU
RNS Number : 1946C
Medgenics Inc
27 April 2012
Press Release 27 April 2012
MEDGENICS comments on market trading activity
Medgenics, Inc. (NYSE Amex: MDGN and AIM: MEDU, MEDG), the
developer of a novel technology for the sustained production and
delivery of therapeutic proteins in patients using their own
tissue, today announces that the NYSE Amex contacted the Company
and, in accordance with its usual practice, requested that the
Company issue a press release regarding the increased activity in
the trading of its common stock. Medgenics states that as a matter
of policy, the Company does not comment on unusual market activity
or rumors. This announcement was released during trading hours in
New York on 26 April 2012.
About Medgenics
Medgenics is developing and commercializing Biopump(TM), a
proprietary tissue-based platform technology for the sustained
production and delivery of therapeutic proteins using the patient's
own skin biopsy for the treatment of a range of chronic diseases
including anemia, hepatitis, and hemophilia, among others.
Medgenics believes this approach has multiple benefits compared
with current treatments, which include regular and costly
injections of therapeutic proteins.
Medgenics has three long-acting protein therapy products in
development based on this technology:
-- EPODURE(TM) to produce and deliver erythropoietin for many
months from a single administration, has demonstrated elevation and
stabilization of hemoglobin levels in anemic patients for six to
more than 36 months in a Phase I/II dose-ranging trial, and is
about to commence a Phase IIa safety/efficacy trial in dialysis
patients in Q2 2012 in Israel. An IND has been filed with the U.S.
Food and Drug Administration to initiate a Phase IIb study to
evaluate the safety and efficacy of EPODURE in the treatment of
anemia in dialysis patients in the U.S.
-- INFRADURE(TM) for sustained production and delivery of
interferon-alpha for use in the treatment of hepatitis is awaiting
final approval of two Phase I/II trials in Israel in hepatitis C,
slated to commence Q3 2012.
-- HEMODURE(TM) for sustained production and delivery of
clotting Factor VIII therapy for the sustained prophylactic
treatment of hemophilia is now in development.
Medgenics is focused on the development and manufacturing of its
innovative Biopumps, aiming to bring them to market via strategic
partnerships with major pharmaceutical and/or medical device
companies.
In addition to treatments for anemia, hepatitis and hemophilia,
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 $132 billion in
2013. Other potential applications for Biopumps include multiple
sclerosis, arthritis, pediatric growth hormone deficiency, obesity
and diabetes.
Forward-looking Statements
This release contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, Section 21E
of the Securities Exchange Act of 1934 and as that term is defined
in the Private Securities Litigation Reform Act of 1995, which
include all statements other than statements of historical fact,
including (without limitation) those regarding the Company's
financial position, its development and business strategy, its
product candidates and the plans and objectives of management for
future operations. The Company intends that such forward-looking
statements be subject to the safe harbors created by such laws.
Forward-looking statements are sometimes identified by their use of
the terms and phrases such as "estimate," "project," "intend, "
"forecast," "anticipate," "plan," "planning, "expect," "believe,"
"will," "will likely," "should," "could," "would," "may" 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
statements contained herein to reflect any change in the Company's
expectations with regard thereto or any change in events,
conditions or circumstances on which any such statements are based.
As a result of these factors, the events described in the
forward-looking statements contained in this release may not
occur.
Contacts
Medgenics, Inc. Dr. Andrew L. Pearlman, +972 4 902 8900
andrew.pearlman@medgenics.com
LHA Anne Marie Fields, 212-838-3777 afields@lhai.com
@LHA_IR_PR
Abchurch Communications Adam Michael, Joanne Shears or Jamie
Hooper +44 207 398 7719 jamie.hooper@abchurch-group.com
Religare Capital Markets UK Ltd. (NOMAD) David Porter or Richard
Thompson +44 207 444 0800
SVS Securities plc (Joint Broker) Alex Mattey or Ian Callaway
+44 207 638 5600
Nomura Code Securities (Joint Broker) Jonathan Senior, +44 207
776 1219
- ENDS -
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCPGUMWCUPPPUQ
Medgenics(Regs) (LSE:MEDG)
Historical Stock Chart
From Jun 2024 to Jul 2024
Medgenics(Regs) (LSE:MEDG)
Historical Stock Chart
From Jul 2023 to Jul 2024