MISGAV, Israel & SAN FRANCISCO -- (BUSINESS WIRE) -- Medgenics, Inc. (NYSE MKT: MDGN and AIM: MEDU, MEDG) (the Company), the developer of BiopumpTM, a novel technology for the sustained production and delivery of therapeutic proteins in patients using their own tissue, announces that on December 2, 2013 and December 3, 2013, the Company was informed by Dr. Eugene Bauer, a Director of the Company, that he sold a total of 20,000 shares of common stock on the open market on those days at an average price of $6.30 per share.
Following this sale, Dr. Bauer owns 195,874 shares of common stock representing approximately 1.1 percent of the issued share capital. Dr. Bauer also has the right to purchase up to 78,571 shares of common stock pursuant to warrants and options previously granted (in aggregate Dr. Bauer’s shares of common stock, warrants, and options represent 274,445 shares of common stock which represent approximately 1.5 percent 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.
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 tissue for the treatment of a range of chronic diseases including anemia, hepatitis, among others. For more information, please visit www.medgenics.com