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Medgenics Announces Key Appointments

PHILADELPHIA, Oct. 13, 2015 (GLOBE NEWSWIRE) -- Medgenics, Inc.(NYSE MKT:MDGN) today announced the following appointments:

  • Liza Squires, MD joins as Vice President Research and Development, Therapeutic Area Head, Neuroscience
  • David Fitts, PhD joins as Vice President and Head, Statistical Sciences and Data Management
  • Stephen P. Spielberg, MD, PhD, joins Scientific Advisory Board

"We are pleased to welcome Liza, David and Stephen to Medgenics. Their extensive experience and expertise will strengthen our organizational capabilities as we accelerate the recently acquired NFC-1 program into Phase 2/3 development for the treatment of mGluR network mutation positive Attention Deficit Hyperactivity Disorder (mGluR+ ADHD), as well as neuropsychiatric symptoms resulting from a related rare genetic disorder, 22q11.2 Deletion Syndrome (22q11.2 DS)," said Mike Cola, Chief Executive Officer of Medgenics.

Dr. Squires has held positions of increasing responsibility in clinical research and drug development, including most recently being Chief Medical Officer at Lumos Pharma.  Prior to Lumos, she spent 9 years at Shire Pharmaceuticals as Vice President, Research and Development and ADHD Business Unit Medical Lead, where she led the clinical development of Vyvanse®, and Intuniv®.  Dr. Squires earned her Bachelor of Science from the University of Michigan, and her medical degree from Michigan State University. Dr. Squires practiced Pediatric Neurology and is board certified in Pediatrics and Neurology, with special competence in Child Neurology.

Dr. Fitts is a pharmaceutical executive with over 25 years of experience in clinical development. Dr. Fitts' industry career started in 1988 at SmithKline Beecham Pharmaceuticals (SB). In 2000, he joined EMD pharmaceuticals, the US affiliate of Merck KGaA and was soon appointed Global Head of Biometrics department.  In 2008, Dr. Fitts joined ViroPharma, Inc. as Head of Biometrics, where he led a team of programmers and statisticians supporting the development of compounds in the anti-infective and orphan disease space. Following pharmacist training, Dr. Fitts went on to earn his Master of Public Health and PhD degrees from Tulane University in Epidemiology with an emphasis on Biostatistics. 

Dr. Spielberg's 40-year career in pediatrics, clinical pharmacology, drug safety, and pharmacogenomics has spanned time in academia, the pharmaceutical industry, and government. He has served as Dean of the Dartmouth Medical School, VP for Pediatric Drug Development at JNJ, and Deputy Commissioner for Medical Products at the US FDA.  He is Editor-in-Chief of Therapeutic Innovation and Regulatory Science (the journal of the Drug Information Association), serves on the Advisory Board of CASMI (Centre for Advancement of Sustainable Medical Innovation), and is a Medical Sciences Trustee on the Board of the U.S. Pharmacopeia.  Educated at Princeton (AB, Biology), University of Chicago (MD-PhD (Pharmacology)), Children's Hospital Boston (Pediatric Residency), and NICHD (genetics fellowship). He has published over 140 scientific papers, and received numerous awards for his work advancing pediatric therapeutics.

In connection with the appointment of Liza Squires, the Compensation Committee of the Medgenics Board of Directors has granted Dr. Squires inducement awards consisting of stock options covering up to 175,000 shares of the Company's common stock, $0.0001 par value per share (Common Stock), at a per share exercise price of $7.37, representing the closing price of the Common Stock on the grant date, October 12, 2015. These options have a 10-year term, with one-third of the options vesting on the first anniversary of grant, one-third vesting on the second anniversary, and the final third vesting on the third anniversary of the grant date, subject to Dr. Squires' continuous service through each vesting date. The Compensation Committee of the Medgenics Board of Directors, which is comprised solely of independent directors, granted this award on October 12, 2015 pursuant to stand-alone award agreements outside of Medgenics' Stock Incentive Plan as inducements material to Dr. Squires' acceptance of her appointment to the company in accordance with Section 711 of the NYSE MKT Company Guide.

In connection with the appointment of David Fitts, the Compensation Committee of the Medgenics Board of Directors has granted Dr. Fitts inducement awards consisting of stock options covering up to 100,000 shares of the Company's common stock, $0.0001 par value per share (Common Stock), at a per share exercise price of $7.37, representing the closing price of the Common Stock on the grant date, October 12, 2015. These options have a 10-year term, with one-third of the options vesting on the first anniversary of grant, one-third vesting on the second anniversary, and the final third vesting on the third anniversary of the grant date, subject to Dr. Fitts' continuous service through each vesting date. The Compensation Committee of the Medgenics Board of Directors, which is comprised solely of independent directors, granted this award on October 12, 2015 pursuant to stand-alone award agreements outside of Medgenics' Stock Incentive Plan as inducements material to Dr. Fitts' acceptance of his appointment to the company in accordance with Section 711 of the NYSE MKT Company Guide.

About Medgenics, Inc.

Medgenics is dedicated to unlocking the potential of genomic medicine to identify and treat patients with life-altering conditions. Its efforts, including its internal research and development and ongoing sponsored research and licensing agreements with a well-respected pediatric academic medical center, give Medgenics the ability to focus on the underlying genetic pathway of pediatric diseases with the goal of finding therapeutic solutions for subpopulations of both children and adults living with rare and other difficult-to-treat diseases. For more information, visit the Company's website at www.medgenics.com.

Forward-looking Statements

This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and as that term is defined in the Private Securities Litigation Reform Act of 1995, which include all statements other than statements of historical fact, including (without limitation) those regarding the Company's financial position, its development and business strategy, its product candidates and the plans and objectives of management for future operations. The Company intends that such forward-looking statements be subject to the safe harbors created by such laws. Forward-looking statements are sometimes identified by their use of the terms and phrases such as "estimate," "project," "intend," "forecast," "anticipate," "plan," "planning, "expect," "believe," "will," "will likely," "should," "could," "would," "may" or the negative of such terms and other comparable terminology. All such forward-looking statements are based on current expectations and are subject to risks and uncertainties. Should any of these risks or uncertainties materialize, or should any of the Company's assumptions prove incorrect, actual results may differ materially from those included within these forward-looking statements. Accordingly, no undue reliance should be placed on these forward-looking statements, which speak only as of the date made. The Company expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company's expectations with regard thereto or any change in events, conditions or circumstances on which any such statements are based. As a result of these factors, the events described in the forward-looking statements contained in this release may not occur.

CONTACT: Medgenics, Inc.John Leamanjohn.leaman@medgenics.com

         Brian PiperBrian.piper@medgenics.com

         Stern Investor Relations
         Beth DelGiacco
         212-362-1200
         Beth@sternir.com

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