Medgenics Inc Filing of Shelf Registration (9333O)
18 October 2012 - 1:35AM
UK Regulatory
TIDMMEDG TIDMMEDU
RNS Number : 9333O
Medgenics Inc
17 October 2012
Press Release 17 October 2012
Medgenics, Inc.
("Medgenics" or "the Company")
Medgenics Announces Filing of Shelf Registration
Medgenics, Inc. (AIM: MEDU, MEDG and NYSE MKT: MDGN), the
developer of Biopump(TM) , a novel technology for the sustained
production and delivery of therapeutic proteins in patients using
their own tissue, today announced that it has filed a shelf
registration statement on Form S-3 with the Securities and Exchange
Commission ("SEC").
Under the shelf registration statement, once declared effective
by the SEC, the Company may offer and sell from time to time in the
future, in one or more offerings, common stock, warrants, rights or
units consisting of any combination of the foregoing. The aggregate
offering price of all securities that may be sold under the
registration statement will not exceed $150,000,000.
The shelf registration statement is intended to give Medgenics
additional flexibility to finance business opportunities in the
future by accessing the capital markets on a timely and cost
effective basis. The specifics of any future offering, along with
the prices and terms of any such securities offered by the Company,
will be determined at the time of any such offering and will be
described in detail in a prospectus supplement filed in connection
with such offering.
The shelf registration statement relating to these securities
has been filed with the SEC but has not yet become effective. These
securities may not be sold nor may offers to buy be accepted prior
to the time the shelf registration statement becomes effective.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy the securities, nor shall there be
any sale of the securities in any state or jurisdiction in which
such offer, solicitation or sale would be unlawful prior to the
registration or qualification under the securities laws of any such
state or jurisdiction. Any offering of the securities covered by
the shelf registration statement will only be by means of a
prospectus and an accompanying prospectus supplement.
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, which has demonstrated
elevation and stabilization of hemoglobin levels in anemic patients
for periods of six months to more than 36 months in a Phase I/II
dose-ranging trial in Israel and is currently in a Phase IIa trial
in dialysis in Israel. An Investigational New Drug application has
been cleared by the FDA 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, which has
received approval for two Phase I/II trials in in hepatitis C from
the Israeli Ministry of Health with the first slated to commence in
Q4 2012; and has received Orphan Drug Designation from the FDA for
the treatment of hepatitis D.
-- 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.
For further information, contact:
Medgenics, Inc. Phone: +972 4 902 8900
Dr. Andrew L. Pearlman
andrew.pearlman@medgenics.com
Abchurch Communications Phone: +44 207 398 7718
Adam Michael
Joanne Shears
Harriet Rae
harriet.rae@abchurch-group.com
Nomura Code Securities. (NOMAD & Phone: +44 207 776 1200
Joint Broker)
Jonathan Senior
Giles Balleny
SVS Securities plc (Joint Broker) Phone: +44 207 638 5600
Alex Mattey
Ian Callaway
- Ends -
This information is provided by RNS
The company news service from the London Stock Exchange
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