LOS ANGELES, CA--(Marketwire - May 25, 2010) - MMR Information Systems, Inc. (
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 vaccines 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® 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 MMR 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 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. 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 Information:
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