LOS ANGELES, CA — (Marketwire) — 11/28/11 — (OTCBB: MMRF) () today announced that it has just been granted a patent protecting methods of making compositions for B-cell vaccines and will soon also have Notice of Allowance for another U.S. Patent protecting “Methods of treating a patient with a B-cell lymphoma.” Although technically complex, the patent is a manufacturing patent that covers the methods of making compositions for B-cell vaccines used in the fight against lymphoma and potentially other forms of cancer.
Earlier this month, the Company also filed a continuation application involving similar manufacturing technology in an effort to retain another pending application. Should the application be granted, it would be extremely valuable for a future potential licensee or buyer of the technology. B-cells are the white blood cells that develop from bone marrow and produce antibodies. Common B-cell malignancies for which the patent covers include lymphomas and myelomas, including Non-Hodgkin-s Lymphoma.
The Company invested more than $140 million in research and development pertaining to its vaccine trials and use of customized tumor cells to treat lymphoma patients and other technologies. Over the past two years, MMR has been working to license and otherwise exploit an extensive portfolio of biotech assets, which also includes its anti-CD20 monoclonal antibodies, data from vaccine trials, thousands of patient tumor samples and other intellectual property including numerous worldwide patents in various stages.
“MMR acquired this intellectual property and related technology through its reverse merger with Favrille, Inc., a biopharmaceutical company, in January 2009. After nearly two years of diligently identifying these assets, we believe that they could have significant value to our shareholders despite the fact that they were not reflected as an asset on the Company-s balance sheet at the time of the merger,” said Robert H. Lorsch, MMRGlobal Chairman and Chief Executive Officer.
Although MMRGlobal-s primary business is the development and distribution of Health IT products and services based on its patented technologies, including the MyMedicalRecords () and MMRPro, an end-to-end document management and imaging system for physicians, surgery centers and small hospitals which features an integrated patient portal (), the Company continues to pursue opportunities to exploit the value of its biotech assets. MMR has already entered into milestone agreements representing license fees of as much as $13 million. The Company believes its data, samples and technology offer value through relationships with biotech investors, universities, and other biotech companies and licensees who might utilize these assets in the development and commercialization of similar cancer fighting vaccines and therapies.
Dendreon-s PROVENGE® immunotherapy vaccine, which received FDA approval in April 2010 as the first-of-its-kind cancer treatment to use the body-s own immune system to target and attack prostate cancer cells, has generated over $203 million in just over a year, with analysts expecting $372.9 million in revenue in 2012. MMRGlobal-s vaccine IP portfolio is also focused on targeted immunotherapies to treat cancer and to work as a customized vaccine made from idiotype protein from a patient-s own tumor cells. The Company-s Specifid vaccine was being created to treat B-cell lymphoma before its trials were ended in 2008.
“More than one hundred million dollars was spent on the creation of the Company-s biotech portfolio by investors of pre-merger Favrille. We are doing the best we can to make every effort to see that these assets can someday be incorporated into treatments for individuals living with cancer and other life-threatening diseases,” added Lorsch.
MMRGlobal, Inc., through its wholly-owned operating subsidiary, MyMedicalRecords, Inc. (“MMR”), provides secure and easy-to-use online Personal Health Records (“PHRs”) and electronic safe deposit box storage solutions, serving consumers, healthcare professionals, employers, insurance companies, financial institutions, and professional organizations and affinity groups. The PHR enables individuals and families to access their medical records and other important documents, such as birth certificates, passports, insurance policies and wills, anytime from anywhere using the Internet. MyMedicalRecords is built on proprietary, patented technologies to allow documents, images and voicemail messages to be transmitted and stored in the system using a variety of methods, including fax, phone, or file upload without relying on any specific electronic medical record platform to populate a user-s account. The Company-s professional offering, , is designed to give physicians- offices an easy and cost-effective solution to digitizing paper-based medical records and sharing them with patients in real time through an integrated patient portal. MMR is an Independent Software Vendor Partner with Kodak to deliver an integrated turnkey EMR solution for healthcare professionals. Through its merger with Favrille, Inc. in January 2009, the Company acquired intellectual property biotech assets that include anti-CD20 antibodies and data and samples from its FavId/Specifid vaccine clinical trials for the treatment of B-Cell Non-Hodgkin-s lymphoma. To learn more about MMRGlobal, Inc. and its products, visit .
Statements in this press release that are not strictly historical in nature, including statements related to the Company-s biotech intellectual property assets and others, future performance, and management-s expectations, beliefs, intentions, estimates or projections, constitute “forward-looking statements.” Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company-s actual results to be materially different from historical results or from any results expressed or implied by such forward-looking statements. Some can be identified by the use of words (and their derivations) such as “need,” “possibility,” “offer,” “development,” “if,” “negotiate,” “when,” “begun,” “believe,” “achieve,” “will,” “estimate,” “expect,” “maintain,” “plan,” and “continue,” or the negative of these words. Factors that could cause or contribute to such differences include, but are not limited to, the risk the Company-s products are not adopted or viewed favorably by the healthcare community and consumer retail market; risks related to the current uncertainty and instability in financial and lending markets, including global economic uncertainties; product integration in physician practices and hospitals; timing and volume of sales and installations; length of sales cycles and the installation process; market acceptance of new product introductions; ability to establish and maintain strategic relationships; ability to identify and integrate acquisitions; relationships with licensees; competitive product offerings and promotions; changes in government laws and regulations and future changes in tax legislation and initiatives in the healthcare industry; undetected errors in our products; possibility of interruption at our data centers; risks related to third party vendors; risks related to obtaining and integrating third-party licensed technology; acceptance of the Company-s marketing and promotional campaigns; risks related to a security breach by third parties; maintaining, developing, defending, marketing and licensing our intellectual property rights including those pertaining to our biotechnology assets; the risk and uncertainties inherent in litigation; risks associated with recruitment and retention of key personnel; uncertainties associated with doing business internationally across borders and territories; and additional risks discussed in the Company-s filings with the Securities and Exchange Commission. Additionally, we are a developing early-stage company and many variables can affect revenues and/or projections, including factors out of our control. The Company is providing this information as of the date of this release and, except as required by law, does not undertake any obligation to update any forward-looking statements contained in this release as a result of new information, future events or otherwise.
CONTACT:
Michael Selsman
Public Communications Co.
(310) 553-5732
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