‘Medgenics’ Raises $9.5M In Private Placement

Medgenics, the developer of technology for the sustained production and delivery of therapeutic proteins in patients using their own tissue, announced it has raised approximately $9.5 million in private placement, through the sale of nearly two million shares. Medgenics intends to use the proceeds to advance clinical trial programs for its treatments of anemia and hepatitis, as well as for R&D, patent maintenance and general corporate purposes. The company holds offices in San Francisco, California and Misgav, Israel.