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MMRGlobal Receives First Anti-CD20 Antibody and Online Medical Record Patents in Mexico(July 09, 2012)
LOS ANGELES, CA -- (Marketwire) -- 07/09/12 -- MMRGlobal, Inc. (OTCBB: MMRF) ("MMR") today announced that it received Notices of Allowance for two additional biotech patents from the Mexican Industrial Property Institute, which is the equivalent to the United States Patent and Trademark Office. Of most significance is the issuance of an anti-CD20 monoclonal antibody patent which marks the first such approval for protection of the Company's specific antibodies that have particular utility in fighting cancers. Patents for the Company's antibodies are also pending in a number of additional countries including the United States, Australia, Brazil, Canada, China, Hong Kong, India, Europe, Japan and Korea. This is particularly important to the Company as Rituxan®, an anti-CD20 monoclonal antibody with reported sales of $7.1 billion in 2011, is due to go off patent in 2015. The Company was also issued a health IT patent entitled "Method and System for Providing Online Medical Records" (Serial No. MX/a/2008/003495) that will now enable the Company to immediately pursue licensees, hospitals and university partnerships in Mexico to begin selling its flagship MyMedicalRecords Personal Health Record. MyMedicalRecords is already offered in English and Spanish and the newest issued patent paves the way for the Company to enter into licensing agreements similar to the licensing and Joint Venture agreements already in place in China and Australia. MMR will work with Hector V. Barreto, Chairman of the Company's Board of Advisors and Chairman of The Latino Coalition, to identify licensees and help exploit its intellectual property in Mexico.
MMR continues to pursue its health IT patents and existing biotech patents, for which it is also in the process of resurrecting many more around the world. The Company is already engaged in licensing portions of its biotech portfolio, including a $13 million non-exclusive licensing agreement with a major pharmaceutical company. "Working with legal counsel, consultants, MMR's investment banker B. Riley, and the efforts of management, the Company is exploiting what we own to turn it into revenue for our shareholders and lifesaving technology for cancer patients," said Bob Lorsch, MMRGlobal Chairman and CEO.
The Company's Mexican biotech patents are entitled "Antibodies and Methods for Making and Using Them" (Serial No. MX/a/2009/006659), and "Method and Composition for Altering a B Cell Mediated Pathology" (Serial No. MX/a/2011/001110), which relates to methods of manufacturing compositions for B-cell vaccines used in the fight against lymphoma and potentially other forms of cancer. The manufacturing patent is similar to those manufacturing patents already issued in the U.S. and Singapore and pending in various other countries of commercial interest around the world. Together, these patents represent a valuable addition to the Company's biotechnology portfolio acquired as a result of MMR's reverse merger with Favrille, Inc., a biopharmaceutical company, in January 2009. Favrille invested more than $140 million in research and development on its FavId vaccine trials and use of customized tumor cells to treat lymphoma patients and other technologies. MMR has continued to make progress in protecting the Company's IP, including its anti-CD20 antibodies.
Although MMRGlobal will continue working to license and otherwise exploit an extensive portfolio of biotech assets, including 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, it remains focused on its primary health IT business. The Company has numerous patents issued or pending relating to providing online medical and personal health records in more than 13 countries of interest and has over 186 additional claims either pending or published related to health information technology in the U.S. and other parts of the world.
About MMRGlobal, Inc.
MMRGlobal, Inc., through its wholly-owned operating subsidiary, MyMedicalRecords, Inc., 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 MyMedicalRecords 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, 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. Through its merger with Favrille, Inc. in January 2009, the Company acquired intellectual property biotech assets that include anti-CD20 monoclonal 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. visit www.mmrglobal.com. View demos and video tutorials of the Company's products and services at www.mmrtheater.com.
Statements in this press release that are not strictly historical in nature, whether or not such statement relates directly to the Company's intellectual property portfolio and patents issued, pending and applied for, and to the Company's future performance, 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," "intend" and "continue," or the negative of these words. Factors that could cause or contribute to such differences include, but are not limited to, the prosecution of our patents; defending, protecting and maximizing the value of our biotechnology and health information technology intellectual property; timing of milestone payments in connection with licensing our IP; the risk the Company's products are not adopted or viewed favorably by the healthcare community and retail market; business prospects, results of operations or financial condition; risks related to the current uncertainty and instability in financial and lending markets, including global economic uncertainties; timing and volume of sales and installations; length of sales cycles and the installation process; timing of new program launches; market acceptance of new product introductions; ability to establish and maintain strategic relationships; 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; litigation matters; 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. 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.
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