Medgenics granted U.S. patent for use of Epodure technology for EPO delivery Medgenics announced a patent granted by the U.S. Patent and Trademark Office protecting the use of Medgenics’ Epodure Biopump technology for delivery of erythropoietin, or EPO. Medgenics is developing Epodure to address the need for safer, sustained treatment of anemia. The USPTO also allowed claims covering a similar method for delivery of clotting Factor VIII, underlying Medgenics’ Hemodure Biopump technology for sustained prophylactic treatment of hemophilia.
Medgenics reports Q3 EPS (21c) vs. (33c) last year Gross research and development expenses for the three months ended September 30 decreased to $2.28M from $2.45M for same period in 2013. This decrease was due mainly to a decrease in subcontractor costs. Net R&D expenses for the three months ended September 30 decreased to $1.57M from $2.34M for the same period in 2013. The decrease in net R&D expenses was due to an increase of $0.61M in the participation by the Israeli Office of the Chief Scientist in addition to the decrease in gross R&D expenses. General and administrative expenses for the three months ended September 30 were $2.31M, decreasing from $2.56M for the same period in 2013 primarily due to a decrease in professional fees.