Medgenics Receives Notice of Allowance from the U.S. Patent Office for Claims That Expand IP for Its Platform Technology to Additional Therapeutic Proteins
MISGAV, Israel & SAN FRANCISCO--(BUSINESS WIRE)-- Medgenics, Inc. (NYSE Amex: MDGN and AIM: MEDU, MEDG) (the Company), the developer of Biopump", a novel technology for the sustained production and delivery of therapeutic proteins in patients using their own tissue, today announced the United States Patent and Trademark Office has issued a Notice of Allowance of claims that expand the Companys scope of patent coverage for additional therapeutic proteins.
The claims in the patent are directed to a dermal Biopump expressing at least one recombinant gene product from any of the following: growth hormone, interferon beta, insulin, PDGF-BB, interleukin-1 receptor agonist (IL-1Ra), peptide YY3-36, interleukin-10 (IL-10) and G-CSF. These claims, combined with the prior grant of patents for genetically modified dermal micro-organ expression of erythropoietin and interferon alpha, broaden Medgenics scope of intellectual property in the field of genetically modified dermal micro-organs.
Upon the issuance of this patent, Medgenics global patent portfolio will include 45 patents granted, with 79 patent applications pending.
Medgenics (MDGN) believes its approach to protein therapy will have multiple benefits compared with current treatments, which include regular and costly injections of therapeutic proteins. Medgenics technologies target a range of clinical indications within the global protein therapy market, which is forecast to reach $143 billion in 2015.
With this allowance we have further broadened the universe of therapeutic proteins that can be delivered through our Biopump platform technology. We continue to build the value of our intellectual property worldwide with the knowledge that new therapeutic areas will be covered by our patent portfolio, stated Andrew L. Pearlman, Ph.D., President and Chief Executive Officer of Medgenics.
Medgenics is developing and commercializing Biopump", a proprietary tissue-based platform technology for the sustained production and delivery of therapeutic proteins using the patient's own tissue for the treatment of a range of chronic diseases including anemia, hepatitis and hemophilia, among others.
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.
Dr. Andrew L. Pearlman, +972 4 902 8900
Anne Marie Fields, 212-838-3777
Adam Michael/Joanne Shears/Jamie Hooper
+44 207 398 7719
Nomura Code Securities (NOMAD & Joint Broker)
Jonathan Senior/Giles Balleny
+44 207 776 1200
SVS Securities plc (Joint Broker)
Alex Brearley, +44 207 638-5600
Source: Medgenics, Inc.Copyright Business Wire 2013