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Medgenics Announces New Executive Leadership Team

Stocks in this article: MDGNMEDG

Medgenics, Inc. (NYSE MKT: MDGN and AIM: MEDU, MEDG), developer of a novel technology for the sustained production and delivery of therapeutic proteins in patients using their own tissue, announces the appointment of a new executive leadership team with the goal of accelerating the development of the company’s gene therapy platform and maximizing the value of the company’s technology assets. The new executives are Michael Cola, President and Chief Executive Officer, John Leaman, M.D., Chief Financial Officer, and Garry Neil, M.D., Global Head of Research and Development. In addition, on September 13, 2013, Mr. Cola joined the Medgenics’ Board of Directors.

Andrew L. Pearlman, Ph.D., the company’s Founder and previously the company’s President and Chief Executive Officer, has retired as of September 13, 2013 and is continuing to serve on the Board of Directors and as a senior advisor to the company.

This executive team will be based in the U.S. R&D and manufacturing will continue to operate in Misgav, Israel and U.S. manufacturing will continue to operate in San Francisco.

“Mike Cola is a strategic, entrepreneurial and transformational business leader with a strong record in building shareholder value and broad experience in life science product development and portfolio management. Collectively, the new team’s relevant experience and knowledge is impressive and will be integral to Medgenics’ continued success,” said Sol J. Barer, Chairman of the Board of Medgenics. “On behalf of the Board and the entire staff at Medgenics, I extend deepest gratitude to Andy Pearlman for his many contributions to our company. Andy has dedicated more than a decade to the development of the Biopump™ technology, and it is through his efforts and leadership that we have such a strong foundation.”

Dr. Pearlman said, "I am pleased to hand over the reins to Mike, who has rightfully earned a position of high regard in the biopharmaceutical industry. Together with John Leaman and Garry Neil, this new executive leadership represents the ideal complement to the existing Medgenics team, and brings the expertise to optimize the clinical and commercial potential of our Biopump technology platform. I am proud and honored to continue as a Director for this outstanding and expanded team, and as an advisor to assist them. Medgenics’ future looks brighter than ever.”

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