LOS ANGELES, CA--(Marketwire - June 11, 2010) - MMR Information Systems, Inc. (
MMR acquired this intellectual property and related technology through its reverse merger with Favrille, Inc., a biopharmaceutical company, in January 2009. The Patent is an asset relating to the Company's vaccine trials and use of customized tumor cells to treat lymphoma patients. Over the past 12 months, the Company identified a portfolio of biotech assets which include its anti-CD20 monoclonal antibodies, data from vaccine trials, patient tumor samples and other intellectual property including other worldwide patents in various stages.
"This patent represents a significant step in our efforts to have a series of MMR post-merger petitions pertaining to filings regarding its biotech vaccine granted," said Robert H. Lorsch, MMR Chairman and CEO. "The Company is optimistic about the status of additional decisions from the U.S. Patent and Trademark Office and other patent authorities worldwide. We believe these intellectual properties may be of significant value to MMR and its shareholders."
In April this year, Dendreon's Provenge prostate cancer vaccine received approval from the FDA. It is believed that the drug, which is a customized vaccine to the patient using the body's own immune system to target and attack prostate cancer cells, has the potential to generate sales of $1.5 billion a year.
Favrille had already spent in excess of $200 million developing its Specifid vaccine, which, similar to the Dendreon vaccine, is also intended to work as a customized vaccine made from the idiotype protein from a patient's own tumor cells. Specifid was being created to treat lymphoma before its trials were ended in 2008.
Given the recent Dendreon approval, the Company believes its data, samples and technology may offer similar values through relationships with biotech investors, universities, biotech companies and licensees who might utilize these assets in the development of similar cancer fighting vaccines and therapies or even to work with the Company on a reinterpretation of the original Favrille trial on an expedited basis. MMR will continue to work with consultants and advisers who specialize in these areas to take advantage of opportunities.
The Company recently announced 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), joined MMR's Board of Advisors in order to advise the Company on strategies for maximizing the value of its biotech assets. Sanderling and Forward Ventures together invested more than $50 million in Favrille, Inc. Both men previously served on the Favrille board and are pioneers in the biotechnology and biomedical industries, bringing to MMR a unique knowledge and understanding of MMR's post-merger portfolio of biotech assets.
"Hundreds of millions of dollars were spent on the creation of these biotech assets by shareholders and investors of pre-merger Favrille and MMR. My purpose is to see that these assets are used to benefit science and the Company's shareholders," added Lorsch.
MMR 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