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Medgenics Names Clarence “Butch” Dellio as Chief Operating Officer

Medgenics Names Clarence “Butch” Dellio as Chief Operating Officer

Medgenics Names Clarence “Butch” Dellio as Chief Operating Officer

Medgenics Names Clarence “Butch” Dellio as Chief Operating Officer

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Medgenics, Inc. has announced that Clarence “Butch” Dellio has been named to the position of Chief Operating Officer. Mr. Dellio will be based in the Company’s new U.S. headquarters located in San Francisco, California.

Former Chief Operating Officer, Stephen Bellomo, will continue with the Company as Vice President of Product Development and Intellectual Property and Chief Operating Officer of Medgenics Medical (Israel) Limited, the Company’s wholly-owned operating subsidiary located in Israel.

Most recently Mr. Dellio has been a consultant to a variety of emerging biotechnology and medical technology companies, providing facilities, manufacturing, clinical and regulatory expertise to therapeutics and diagnostics companies.

From 2004 to 2008 Mr. Dellio served as President and Chief Operating Officer of Neosil, Inc., a venture-backed dermatology company that subsequently merged with Peplin, Inc.

From 1984 to 2004 he was Chief Operating Officer and Senior Vice President-Operations for XOMA Ltd., a publicly held biotechnology company focused on peptides and monoclonal antibodies.

At XOMA he held a series of progressively responsible positions culminating in CFO and VP Manufacturing, where he led a staff of 70 in manufacturing, facilities, process development, QA/QC, purchasing and information technology.

Previously Mr. Dellio was Vice President Manufacturing/New Product Development Manager at Becton-Dickinson & Company, a global medical technology company.

During his 11 years at Becton-Dickinson he held various positions in multiple divisions, including Director of Planning, Division Controller, Strategic Business Unit Controller and Cost/Staff Accountant. Mr. Dellio earned his B.S. in Accounting from Bentley College and served in the U.S. Air Force.

“Butch is a successful, results-orientated executive with impressive credentials. He is known for rapidly scaling-up companies and for attracting and building quality management teams,” stated Andrew L. Pearlman, Ph.D., President and CEO of Medgenics.

Pearlman continued, “In April 2011 we completed our U.S. initial public offering as part of our strategy to establish a U.S. presence, and Butch’s appointment is an important step in executing that strategy. His experience with clinical and manufacturing processes will be valuable to Medgenics as we expand our autologous, tissue-based technology platform into the U.S.”

Commenting on his appointment, Mr. Dellio said, “I am delighted to be joining Medgenics at this important juncture in its development. The Biopump is an exciting technology that has the potential to change the treatment paradigm in a number of chronic diseases. I look forward to working with the Medgenics team to build the Company’s U.S. presence and to advancing this breakthrough technology toward commercialization.”

In connection with his appointment, Mr. Dellio was issued options to purchase 40,000 shares of Medgenics common stock under the Company’s 2006 Stock Incentive Plan. Such options will vest in equal increments over four years, expire in 10 years and have an exercise price of $3.64 per share.