Biopump to treat haemophilia

Medgenics has signed a preclinical development and option agreement with a major international biopharmaceutical company to commercialise its Biopump technology platform.

Biopump is a tissue-based technology that is inserted under the skin to replace daily injections and provide sustained protein delivery for people suffering from chronic diseases.

The agreement, worth up to $7m (£4.3m), will include funding for the preclinical development of Medgenics' Biopump to produce and a deliver clotting protein for the treatment of haemophilia.

This is a new application of the Biopump tissue protein therapeutic platform, which has previously demonstrated successful production of erythropoietin in treating renal anemia and interferon alpha for use in treating hepatitis C.

Medgenics is expected to receive $4m to work exclusively with its partner for one year to develop Biopump, with additional payments of $3m payable upon Medgenics meeting certain technical requirements.

Dr Andrew Pearlman, chief executive of Medgenics, said: ‘We are very excited to have reached this key milestone toward commercialisation of our technology. The fact that this agreement is for a new therapeutic application of our Biopump demonstrates the versatility of our platform technology.