Medgenics, Inc. (NYSE: MDGN), a clinical-stage biopharmaceutical company, today announced its intention to offer and sell shares of its common stock in an underwritten public offering pursuant to an existing shelf registration statement. All of the shares to be sold in the proposed offering are being sold by Medgenics. The offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.
Jefferies LLC is acting as sole book-running manager for the proposed offering. Medgenics intends to grant the underwriters a 30-day option to purchase up to an additional 15% of the shares of common stock offered to the public, on the same terms and conditions.
Net proceeds to be used for (i) product development activities, including the development of companion diagnostics for existing programs, (ii) patent maintenance fees and intellectual property support, (iii) licensing and research collaborations and (iv) general corporate purposes and working capital, which may include the acquisitions or licensing of complementary technologies, products or businesses.
The securities described above are being offered pursuant to a shelf registration statement that has been previously filed with and declared effective by the U.S. Securities and Exchange Commission (SEC).
The securities described above have not been qualified under any state blue sky laws. This press release does not constitute an offer to sell, or the solicitation of an offer to buy, these securities, nor will there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale is not permitted.
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. Medgenics is also the developer of TARGT™ (Transduced Autologous Restorative Gene Therapy), a proprietary gene therapy platform. For more information, visit the Company's website at www.medgenics.com.
