MEDG Medgenics(Regs)

TIDMMEDG TIDMMEDU

RNS Number : 0646Z

Medgenics Inc

31 January 2014

 
 Press Release   31 January 2014 
 

Directors Dealings

Medgenics, Inc. (AIM: MEDU, MEDG and NYSE MKT: MDGN), the developer of Biopump(TM) , a novel technology for the sustained production and delivery of therapeutic proteins in patients using their own tissue, announces that, on 29 January 2014, it was informed by Andrew Pearlman, a Director of the Company who retired as CEO in September 2013, that he exercised options under a a personal stock trading plan established in accordance with both the guidelines established by Rule 10b5-1 under the U.S. Securities and Exchange Act of 1934, as amended, and the AIM Rules for Companies as well as the Company's policies with respect to insider sales. On 29 January 2014, Dr. Pearlman exercised options for 500 shares of common stock at an exercise price of US$3.14 per share and sold the same number of shares at a price of US$7.50 per share. Dr. Pearlman also informed the Company on 30 January 2014 that he exercised options on that day for 24,500 shares at an exercise price of US$3.14 per share and sold the same number of shares of common stock at a price of US$7.50 per share.

The stock was sold for personal financial planning purposes including the payment of taxes in connection with the exercise of stock options. Following these option exercises and sales, Dr. Pearlman owns 42,375 shares of common stock representing approximately 0.2 per cent of the issued share capital. Dr. Pearlman also has the right to purchase up to 1,075,968 shares of common stock pursuant to warrants and options previously granted (in aggregate Dr. Pearlman's shares of common stock, warrants, and options represent 1,118,343 shares of common stock which represent approximately 6.0 per cent of the issued share capital).

This announcement is being made pursuant to the London Stock Exchange's AIM Rules for Companies admitted to trading on the AIM market.

About Medgenics

Medgenics is developing and commercializing Biopump(TM), 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, among others. For more information, please visit www.medgenics.com.

Contacts:

 
 Medgenics, Inc. 
  John Leaman, CFO 
  john.leaman@medgenics.com 
 Abchurch Communications 
  Joanne Shears / Jamie Hooper 
  / Harriet Rae 
  harriet.rae@abchurch-group.com      +44 207 398 7718 
 Oriel Securities (NOMAD & Broker) 
  Jonathan Senior / Giles Balleny     +44 207 710 7617 
 

-Ends-

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