NEWS --
LOS ANGELES, CA, Sep 13, 2010 (MARKETWIRE via COMTEX) -- MMRGlobal, Inc.
(OTCBB: MMRF) (www.mymedicalrecords.com) today revealed that according to an
expert retained by the Company, the relevant human tissue samples that are part
of its biotech assets may have a value of at least $1.376 million. However, when
combined with clinical data from the Company's vaccine research into the causes
and potential treatment of B-Cell Non-Hodgkin's Lymphoma, including data from
patient follow-ups and the existence of whole blood or serums, if any, the value
could be inestimable. MMRGlobal has retained scientific experts and advisors on
behalf of its efforts to protect a portion of the Company's intellectual
property and related technology claims pertaining to the Lymphoma Research
Foundation. The Company acquired these assets through its reverse merger with
Favrille, Inc., a biopharmaceutical company, in January 2009. Favrille was
previously based in San Diego.
On April 14, 2010, MMRGlobal announced the existence of intellectual property in
the form of approximately 150 patient samples collected during the Company'spre-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 o utcomes 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 valu e 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 document s, 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:
Michael Selsman
Public Communications Co.
(310) 553-5732
ms@publiccommunications.biz
SOURCE: MMRGlobal, Inc.
CONTACT: mailto:ms@publiccommunications.biz
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SUBJECT CODE: Medical and Heal thcare:Alternative
Medical and Healthcare:Surgery and Treatments
Pharmaceuticals and Biotech:Trials
Pharmaceuticals and Biotech:Drugs
Pharmaceuticals and Biotech:Equipment and Supplies
Pharmaceuticals and Biotech:Biotech
