Follows Similar U.S. Patent for Biopump Protein Therapy Technology and Expands Intellectual Property Portfolio
MISGAV, Israel & SAN FRANCISCO--(BUSINESS WIRE)-- 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 announced that the Company received notice of ‘Intention to Grant’ from the European Patent Office for the patent application entitled “USE OF DERMAL MICRO ORGANS,” with allowed claims covering a core element of its Biopump™ protein therapy technology.
A counterpart patent in the United States was issued in December 2008, with rights extending to November 2023. The patent estate covering the Biopump includes compositions, methods of use and methods of manufacture, and includes issued patents in the United States, as well as pending applications in the United States and various foreign jurisdictions.
Commenting on the European patent allowance, Andrew L. Pearlman, Ph.D., President and Chief Executive Officer of Medgenics, said: “We will be delighted to add this European patent to our growing intellectual property portfolio. This patent is important as it protects key elements of our protein production technology. These claims provide significant protection for our proprietary technology and create significant barriers of entry to any would-be competitors.”
“Medgenics has pioneered the development of sustained production and delivery of therapeutic proteins using the patient's own intact tissue, which is a key differentiating factor of our technology. This patent, like its counterpart U.S. patent, is critical to protecting this unique tissue technology and its resulting protein production capabilities,” added Dr. Pearlman.
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 skin biopsy for the treatment of a range of chronic diseases including anemia, hepatitis C and hemophilia. 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 (now completing a Phase I/II dose-ranging trial) 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;
- INFRADURE (planning to commence a Phase I/II trial in Israel in 1H12 in hepatitis C) to produce a sustained therapeutic dose of interferon-alpha for use in the treatment of hepatitis;
- HEMODURE is a sustained Factor VIII therapy for the prophylactic treatment of hemophilia, now in development.
Medgenics intends to develop its innovative products and 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.
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
Religare Capital Markets (NOMAD)
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