Medgenics of Wayne, with announced plans to grow its business more than $140 billion per year in 2015, recently held a stockholders meeting and made some changes to its board of directors.

Re-elected to the board were: Dr. Sol J. Barer, Dr. Eugene A. Bauer, Isaac Blech, Dr. Alastair Clemow, Michael F. Cola, Wilbur H. Gantz, Joseph J. Grano, Jr., Joel S. Kanter and Dr. Stephen D. McMurray. Dr. Andrew L. Pearlman retired from the board after 10 years of service.

Medgenics is developing a unique sustained-action therapeutic protein delivery technology for the treatment of a range of chronic diseases. The technology – called a “Biopump” – is made from the patient’s own skin and is implanted in a simple procedure to work inside the patient’s body, to produce and deliver the active protein over a sustained period to treat the targeted disease. Medgenics believes that this biological approach can replace a major portion of the regular and costly injections of therapeutic proteins patients currently receive.

The company says it has demonstrated proof-of-principle of its treatment procedure in a clinical trial using EPODURE – Erythropoietin secreting Biopumps in anemic patients. The EPODURE Biopump was successful in a Phase I/II study in Israeli patients with chronic kidney disease. The Biopumps and procedure proved to be safe to use and adequately secreted the target dose.

EPODURE is currently in Phase I/II study in End Stage Renal Disease (ESRD) patients undergoing dialysis in Israel and has received approval to begin a Phase II study in ESRD patients in the US. The company has also developed an Interferon Alpha secreting Biopump for the treatment of viral Hepatitis. The INFRADURE Biopump is currently in a Phase I/II proof-of-principle study in Israel treating Hepatitis C patients. Studies with Hepatitis B and D patients are also planned for the US and the EU.

Stockholders also approved cancelling the company’s common stock shares from trading on the London Stock Exchange’s Alternative Investment Market; amended the company’s stock incentive plan; and appointed Kost Forer Gabbay & Kasierer as accountant for 2014. The company has offices in Wayne and Israel.