MMRF NEWS --
LOS ANGELES, CA, May 25, 2010 (MARKETWIRE via COMTEX) -- MMR Information
Systems, Inc. (OTCBB: MMRF) (www.mymedicalrecords .com) announced today that Fred
Middleton, Managing Director of Sanderling Ventures, and Ivor Royston, M.D.,
Founding Managing Member of Forward Ventures and a co-founder of IDEC
Pharmaceuticals (now Biogen Idec), have joined MMR's Board of Advisors in order
to advise Chairman and CEO Robert H. Lorsch on the strategy for maximizing the
value of the Company's biotech assets for the benefit of MMR's shareholders.
According to Lorsch, "Sanderling and Forward Ventures together previously
represented the largest investors in Favrille, Inc., the predecessor public
company to MMR, which raised more than $150 million from investors to fund its
clinical efforts to develop a cancer vaccine to treat lymphomas. Both men
previously served on the Favrille board and are pioneers in the biotechnology
and biomedical industries. They bring MMR a unique knowledge and understanding
of MMR's post merger portfolio of biotech assets. I am delighted that Fred and
Ivor have agreed to assist us in advising the Company on how to maximize the
value of its biotech assets, which include our anti-CD20 monoclonal antibodies
as well as data, tissue samples and other technologies from the Company's
Specifid vaccine trials and manufacturing processes."
Earlier this month Dendreon's Provenge prostate cancer vaccine received approval
from the FDA. The vaccine uses the body's own immune system to target and attack
prostate cancer cells. Favrille spent in excess of $200 million on its Specifid
vaccine before trials were ended in 2008. The Favrille vaccine under development
was made from the idiotype protein from a patient's own tumor cells. Given the
recent Dendreon approvals, the Company believes its data, samples and technology
may offer value in strategic relationships with universities, biotech companies
and licensees who might utilize these assets in the development of similar
cancer fighting vac cines and therapies.
Mr. Middleton has been a Managing Director at Sanderling Ventures since 1987. He
has served as an investor, management team member and director in over 25 new
biomedical ventures built in Sanderling's venture investment portfolios. Mr.
Middleton also previously served as the Founding CFO of Genentech, Inc., and in
various capacities, including Vice President of Finance, Administration,
Corporate Development, Chief Financial Officer, and as President of Genentech
Development Corporation. Mr. Middleton holds an M.B.A. with distinction from
Harvard University and a B.S. degree in Chemistry from the Massachusetts
Institute of Technology.
Dr. Royston, both a scientist and entrepreneur-financier, is a recognized leader
in cancer research and the founding father of San Diego's biotech industry. In
1978, he co-founded Hybritech, Inc., one of the first companies to commercialize
monoclonal antibodies and the first to market a prostate-specific antigen (PSA)
test for prostate cancer. Following the sale of Hybritech, Dr. Royston formed
IDEC Pharmaceuticals (now Biogen Idec), which discovered Rituxan(R) to treat
Non-Hodgkin's Lymphoma and is the best-selling cancer drug worldwide. From
1978-1990, Dr. Royston was on the faculty of the medical school and cancer
center at the University of California, San Diego. From 1990-2000, he served as
the founding President and CEO of the non-profit Sidney Kimmel Cancer Center.
Dr. Royston received the San Diego Entrepreneur of the Year Award in 1994. In
1997, President Clinton appointed him to a six-year term on the National Cancer
Advisory Board. In 2006, Dr. Royston was inducted into San Diego's CONNECT
Entrepreneur Hall of Fame. He earned his B.A. and M.D. degrees from Johns
Hopkins University and completed post-doctoral training in internal medicine and
medical oncology at Stanford University.
Although MMR will continue to maximize the value of its biotech assets to its
shareholders, the Company remains focused on its primary business, which is
specifically the development and distribution of the MyMedicalRecords Personal
Health Record (www.MyMedicalRecords.com) and MMRPro, an end-to-end document
management solution for physicians which features an integrated patient portal
(www.MyMedicalRecordsMD.com), and other related solutions in Health IT based on
the Company's patented technologies.
About MMR Information Systems, Inc.
MMR Information Systems, 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,
unions 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. 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 M MR Information Systems,
Inc. and its products, visit www.mymedicalrecords.com and view the videos at
www.mmrvideos.com.
Forward-Looking Statements
Any statements contained in this press release that refer to future events or
other non-historical matters are forward-looking statements, and 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." Such statements include, but are not limited to, statements
regarding the Company'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 o r 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. MMR Information Systems,
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, future
events or otherwise.
CONTACT:
Bobbie Volman
MMR Information Systems, Inc.
(310) 476-7002, Ext. 2005
bvolman@mmrmail.com
Michael Selsman
Public Communications Co.
(310) 553-5732
ms@publiccommunications.biz
SOURCE: MMR Information Systems, Inc.
CONTACT: mailto:bvolman@mmrmail.com
mailto:ms@publiccommunications.biz
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SUBJECT CODE: Computers and Software:Internet
Professional Services:Purchasing
Computers and Software:Peripherals
&nbs p; Computers and Software:Software
Medical and Healthcare:Alternative
Medical and Healthcare:Facilities and Providers
Medical and Healthcare:Health and Nutrition
Medical and Healthcare:Healthcare
Medical and Healthcare:Surgery and Treatments
&nbs p; Pharmaceuticals and Biotech:Biotech
Pharmaceuticals and Biotech:Drugs
Pharmaceuticals and Biotech:Equipment and Supplies
Pharmaceuticals and Biotech:Trials
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