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Medgenics Announces Encouraging Preliminary Data For Phase I/II Clinical Trial of EPODURE In Renal Anemia

s annual meeting and scientific exposition, in Philadelphia, Pennsylvania, USA on November 4-9, 2008. Dr. Michal Dranitzki Elhalel, principal nephrologist in the study will present on Thursday, November 6, 2008 at 4:45 p.m. at the Clinical Nephrology Conference and Medgenics Senior Scientists will present Medgenics' GMP vector and Toxicity Study in the Poster Session on Saturday, November 8, beginning at 10:00 am, at the Pennsylvania Convention Center.

Commenting on the preliminary results, Dr. Andrew Pearlman, Chief Executive Officer of Medgenics, said:

"While early data from the first two subjects is only a first indicator from this 30 subject study, we are encouraged that this study will show that Medgenics' EPODURE Biopump can be used to safely elevate hemoglobin levels in subjects with chronic kidney disease for three to six months (or more) from a single implant of one or more Biopumps. We look forward to reporting further as the study proceeds but, given the data collected and the apparent lack of an adverse immune response to the technology so far, we are cautiously optimistic that the trial will support the Directors' belief in this breakthrough platform technology."

For further information, contact:

Medgenics, Inc. Phone: +972 4 902 8900

Dr. Andrew L. Pearlman

Grayling Global (Financial PR, UK) Phone: +44 207 255 5406

Jonathan Shillington

Alistair Scott

Blomfield Corporate Finance Limited Phone: +44 207 489 4500

(Nominated Adviser)

James Pinner

Alan MacKenzie

SVS Securities plc (Broker) Phone: +44 207 638 5600

Peter Manfield

Ian Callaway

United States contacts:

Grayling Global, Investor Relations Phone: +1 646 284 8472

Leslie Wolf-Creutzfeldt

SOURCE Medgenics, Inc.
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