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Medgenics, Inc. is a holding company with one wholly owned subsidiary Medgenics Medical Israel Ltd. (formerly Biogenics Ltd.). The Company and its subsidiary are engaged in the research and development of products in the field of biotechnology and associated medical equipment. The Company is considered as a development-stage company. The Company is developing an approach to treating chronic diseases, using a platform technology, a biological Biopump, enabling patients to produce their own natural human protein therapy. The Biopump technology is made from the patient’s own skin and is implanted in a procedure to work inside the patient’s body, to produce and deliver the active protein steadily over a sustained period to treat the targeted disease. The Company has completed the design, fabrication and evaluation of the key devices required for harvesting patient micro-organs and implanting Biopumps, including EPODURE, back into patients.(Source: ARS)