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 Andrew L. Pearlman, Ph.D., President and Chief Executive Officer of the Company, will deliver a corporate overview at the 24 th Annual Roth Conference taking place March 11-14 th at the Ritz Carlton in Dana Point, California. Dr. Pearlman will deliver his presentation on March 14 th at 10:30 a.m. Pacific time. The presentation will be webcast live and archived online at the Investors section of the Company’s website at www.medgenics.com and at http://wsw.com/webcast/roth26/mdgn/. The Company also reported that, consistent with its prior financial statements, its audited financial statements for the fiscal year ended December 31, 2011 included in the Company’s Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 6, 2012 contained a going concern qualification from its independent registered public accounting firm, Kost Forer Gabbay & Kasierer, a member of Ernst & Young Global. This announcement is in compliance with the NYSE Amex Company Guide Section 610(b), which requires separate disclosure of receipt of an audit opinion containing a going concern qualification. Medgenics continues as a development stage company, pursuing the development and commercialization of its Biopump™ Platform Technology, having expended $6.0 million on research and development during fiscal 2011. This announcement does not represent any change or amendment to the Company’s consolidated financial statements or to its Annual Report on Form 10-K for the fiscal year ended December 31, 2011. Further information regarding the going concern qualification is contained in Medgenics’ Annual Report on Form 10-K for the year ended December 31, 2011. 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 (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.