LOS ANGELES, CA--(Marketwire - September 13, 2010) - MMRGlobal, Inc. (
On April 14, 2010, MMRGlobal announced the existence of intellectual property in the form of approximately 150 patient samples collected during the Company's pre-merger Favrille vaccine trials. Through May of 2008, pre-merger Favrille had spent more than $140 million on the creation and development of intellectual property, which includes clinical trials data, patient samples, patents and other assets. The Company is working towards entering into licensing agreements with biopharmaceutical companies, academic institutions, research organizations and others regarding the use of the assets.
"This is a first definitive valuation of our pre-merger intellectual property and demonstrates that the Company's efforts to find value in its patents and biotech assets continue to be in the best interest of the fight against cancer and for its shareholders," said Robert H. Lorsch, MMRGlobal Chairman and Chief Executive Officer.
The samples came to light when the Company was advised that data from Favrille's pre-merger vaccine trials for a project that theoretically could be used to predict the outcomes of patients vaccinated with idiotype vaccines. The Company was told that the project would seek to determine if it may be possible to predict which lymphoma patients vaccinated with a customized product made from their own tumor cells could conceivably mount a productive immune response against their own tumor. The Company has also been advised that results of such a project, if favorable, would have the potential to lead to a re-interpretation of the previous Favrille cancer vaccine trials.
The Company has engaged consultants and advisors to advise the Company on opportunities that could maximize the value of the Company's pre-merger assets on a worldwide basis, the outcomes of which may not be known for some time. These assets include, but are not limited to, data from the Company's pre-merger clinical vaccine trials, the Specifid vaccine, and the anti-CD20 antibodies.
Although MMRGlobal will continue to maximize the value of its biotech assets, the Company remains focused on its primary business, which is specifically the development and distribution of the MyMedicalRecords Personal Health Record (www.mymedicalrecords.com), MMRPro, an end-to-end electronic document management solution for physicians which features an integrated patient portal (www.mmrpro.com), and other related solutions in Health IT based on the Company's patented technologies.
About MMRGlobal, Inc.
MMR Global, 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. MyMedicalRecords 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. The MyMedicalRecords Personal Health Record 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, MMRPro, 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. MMR is also an integrated service provider on Google Health. To learn more about MMR Global, Inc. and its products, visit www.mymedicalrecords.com and view the videos at www.mmrtheater.com.
Forward-Looking Statements
Statements in this press release that are not strictly historical in nature constitute "forward-looking statements." Such statements include, but are not limited to, statements regarding MMRGlobal, Inc.'s assets including but not limited to its primary Health IT businesses, data from vaccine and clinical trials, and anti-CD20 antibody assets. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from historical results or from any results expressed or implied by such forward-looking statements. These factors include, but are not limited to, risks and uncertainties related to the development and approval of biotechnology/biopharmaceutical product candidates and Health IT products and additional risks discussed in the Company's filings with the Securities and Exchange Commission. All subsequent written and oral forward-looking statements attributable to the Company (or any person acting on the Company's behalf) are qualified by the cautionary statements in this notice. MMRGlobal, Inc. 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.
Contact Information:
CONTACT:
Michael Selsman
Public Communications Co.
(310) 553-5732
ms@publiccommunications.biz