Medgenics, Inc. (NYSE MKT: MDGN and AIM: MEDU, MEDG) (the “Company” or “Medgenics”), the developer of a novel platform technology for the sustained production and delivery of therapeutic proteins in patients using their own tissue, announces the appointment of Joseph J. Grano, Jr. to the Company’s Board of Directors effective March 15, 2013. Mr. Grano’s appointment fills the vacancy resulting from Gary Brukardt’s death in 2012.
Mr. Grano is Chairman and CEO of Centurion Holdings LLC, a provider of advisory services to public and private clients on all facets of business strategy and capital markets access. Previously he was Chairman and CEO of UBS Financial Services Inc. (formerly UBS/PaineWebber), subsequent to the merger between UBS and PaineWebber in 2000. Prior to joining PaineWebber he held various senior management positions at Merrill Lynch including Director of National Sales.
“We are honored to welcome Joe Grano to our Board of Directors. His considerable experience and business acumen will be invaluable assets to Medgenics as we develop our proprietary Biopump technology for the sustained production and delivery of therapeutic proteins from the patients’ own dermis. His wealth of knowledge will be a welcome addition to our Board of leading business and biotechnology executives,” stated Andrew L. Pearlman, Chief Executive Officer of Medgenics.
“I am delighted to be joining the Medgenics Board of Directors at this exciting stage of its clinical development. The Biopump technology represents a potential breakthrough in the way we treat a number of chronic diseases and conditions. I am encouraged by the multitude of opportunities this versatile platform technology can address and look forward to helping Medgenics reach the next level,” commented Mr. Grano.Mr. Grano is the former Chairman of the Board of Governors of NASD and was a member of the NASD’s Executive Committee. He was appointed by President George W. Bush in 2002 to serve as the Chairman of the Homeland Security Advisory Council, a position he held until August 2005.