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Medgenics Announces Results Of 2012 Annual Meeting Of Stockholders

Stocks in this article: MDGNMEDG

Medgenics, Inc. (NYSE Amex: MDGN and AIM: MEDU, MEDG) (the “Company”) , the developer of a novel technology for the sustained production and delivery of therapeutic proteins in patients using their own tissue, today announces that all resolutions proposed at the Company’s Annual Meeting of Stockholders held yesterday were duly passed.

Each of the current directors of the Company, Dr. Eugene A. Bauer, Dr. Andrew L. Pearlman, Mr. Joel S. Kanter, Mr. Gary A. Brukardt, Dr. Stephen D. McMurray, Mr. Isaac Blech and Dr. Alastair Clemow, was reelected to the Board of Directors to serve until the next Annual Meeting of Stockholders and until their successor is duly elected and qualified.

Stockholders also approved the amendment and restatement of the Company’s Stock Incentive Plan, increasing the number of shares authorized to be issued under the plan and making certain other changes to the plan, and ratified the appointment of Kost Forer Gabbay & Kasierer, a member of Ernst & Young Global, to serve as the Company's independent registered public accounting firm for the year ended December 31, 2012.

Final voting tallies are subject to certification by the Company's inspector of elections, and will be included in the Company's report to be filed with the Securities and Exchange Commission later this week.

About 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 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 TM (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 TM 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.

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