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Medgenics Announces Exercise By Underwriters Of Over-Allotment Option

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, today announced that, in connection with its previously announced public offering, the underwriters have exercised their option to purchase 470,000 shares of common stock at $5.24 per share and 840,000 Series 2013-A warrants (the Warrants) at $0.01 per Warrant, which allows for the purchase of 420,000 shares of Common Stock at an initial exercise price of $6.78. The Warrants are currently exercisable and will expire February 13, 2018. Further details of the Warrants were announced in a press release on February 14, 2013.

Net proceeds to Medgenics were $2,274,000, after deducting underwriting discounts.

The securities described above were sold by means of the Company’s existing shelf registration statement on Form S-3, a prospectus and related prospectus supplement, all as filed with the Securities and Exchange Commission (the “SEC”). Copies of such documents are available, on the SEC's website at http://www.sec.gov, and, in addition, may be obtained from Maxim Group LLC, Equity Syndicate Prospectus Department, 405 Lexington Avenue, 2 nd Floor, New York, NY, 10022, or by telephone at 1-212-895-3745, or by email at syndicate@maximgrp.com.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other 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 other jurisdiction.

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 tissue for the treatment of a range of chronic diseases including anemia, hepatitis and hemophilia, among others.

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