Director/PDMR Shareholding
04 December 2008 - 8:56PM
UK Regulatory
Medgenics, Inc.
('Medgenics' or the 'Company')
Issue of options to Director
4 December 2008
On 1 December 2008 the Company issued Lord Leonard Steinberg, a director of the
Company, options over 1,711,319 Common Shares (the "Options") in compensation
for his services as a director of the Company. These Options are exercisable at
a price of 2.875 pence per Common Share and vest in three equal tranches on 1
February 2009, 1 February 2010 and 1 February 2011 and expire on 1 February
2011. Following the issue of the Options, Lord Leonard Steinberg is now
interested in 22,938,428 Common Shares (14,484,725 Common Shares, warrants to
purchase 6,742,384 Common Shares and options over a further 1,711,319 Common
Shares).
For further information, contact:
Medgenics, Inc. Phone: +972 4 902 8900
Dr. Andrew L. Pearlman
Grayling Global (Financial PR, UK) Phone: +44 207 255 5406
Jonathan Shillington jonathan.shillington@uk.grayling.com
Alistair Scott
Blomfield Corporate Finance Limited (Nominated Adviser) Phone: +44 207 489 4500
James Pinner
Alan MacKenzie
SVS Securities plc (Broker) Phone: +44 207 638 5600
Peter Manfield
Ian Callaway
United States contacts:
Grayling Global (Investor Relations) Phone: +1 646 284 8472
Leslie Wolf-Creutzfeldt lwolf-creutzfeldt@hfgcg.com
Grayling Global (Media Relations) Phone: +1 646 284 9455
Ivette Almeida ialmeida@hfgcg.com
NOTES TO EDITORS:
Medgenics, Inc. is a clinical-stage 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 anemia
* INFRADURE - producing interferon-alpha (IFN-a) 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 anemic
subjects. The Company announced positive initial results in its Phase I/II
clinical trial for its long-acting version of EPODURE, designed to produce and
deliver a therapeutic dose of EPO steadily for three to six months or more,
which commenced in August 2008. The Company plans to follow with a clinical
trial 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-a), 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 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.
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