LOS ANGELES, CA--(Marketwired - Jun 25, 2013) - MMRGlobal, Inc. (
According to Robert H. Lorsch, MMRGlobal CEO, "Clearly, MMR's future is being built on our intellectual property assets patent by patent, which we believe will ultimately continue translating themselves into license agreements. In less than two years, we had already entered into a $13 million licensing agreement with Big Pharma. Meanwhile, the Company is continuing to diligently concentrate its efforts on building both its biotech and health information technology patent portfolios. We are protecting our cancer fighting sciences while we invent health IT management systems to empower patients with cost-effective ways to better care for themselves and their family. Our IP covers an entire spectrum from cancer fighting science to personalized cost-effective health management systems."
In addition to the Company's newest cancer fighting vaccine patent, MMR also has other biotech patents which include anti-CD20 monoclonal antibodies. These patents were granted in the U.S., Australia and Mexico under the title, "Antibodies and Methods for Making and Using Them." Additional patent applications for the Company's antibodies, which have particular utility in fighting cancers, are pending in a number of other countries including Brazil, Canada, China, Hong Kong, India, Europe, Japan and Korea. The anti-CD20 monoclonal antibodies are also considered extremely important assets of the Company based on benefits and commercial value as demonstrated by Rituxan®, an anti-CD20 monoclonal antibody with reported sales of USD $7.285 billion in 2012, which is due to go off patent in 2015.
The Company invested more than $100 million in research and development pertaining to its vaccine trials and use of customized tumor cells to treat lymphoma patients and other technologies. Over the past two years, MMR has been working to license and otherwise exploit an extensive portfolio of biotech assets, which includes 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. The Hong Kong patent will become part of the Company's biotechnology portfolio acquired as a result of its reverse merger with Favrille, Inc., a biopharmaceutical company, in January 2009. MMR is already licensing portions of its biotech portfolio, including a remaining $12 million portion of a $13 million non-exclusive licensing agreement with a major biopharmaceutical company. MMR also continues to pursue licensees including hospitals and university partnerships to further exploit the value of its biotech assets.
In addition to its biotech patents, MMR currently has health information technology patents. Seven patents have been issued by the United States Patent and Trademark Office, and a recent Notice of Allowance received last week for a "Method for Providing a User with a Service for Accessing and Collecting Prescriptions" will increase that number to eight. MMR's health information technology patent portfolio, which covers inventions pertaining to Personal Health Records, Patient Portals and other Electronic Health Record systems, also includes patents and patent applications in other countries of commercial interest including Australia, Singapore, New Zealand, Mexico, Japan, Canada, Hong Kong, South Korea, Israel, and European nations. The Company's U.S. health IT patent portfolio was the subject of a recent valuation report available at http://michaelbass.com/PDF/Patent_Valuation.pdf.
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, retail pharmacies, 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 through an integrated patient portal. Through its merger with Favrille, Inc. in January 2009, the Company acquired intellectual property biotech assets that include anti-CD20 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.
All statements in this press release that are not strictly historical in nature, including, without limitation, intellectual property enforcement actions, infringement claims or litigation, intellectual property licenses, and 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," "potential," "intend," "offer," "development," "if," "negotiate," "when," "begun," "believe," "achieve," "will," "estimate," "expect," "maintain," "plan," and "continue," or the negative of these words. Actual outcomes and results of operations and the timing of selected events may differ materially from the results predicted, and any reported results should not be considered as an indication of future performance. Such statements are necessarily based on assumptions and estimates and are subject to various risks and uncertainties, including those relating to the possible invalidity of the underlying assumptions and estimates and possible changes or developments in economic, business, industry, market, legal and regulatory circumstances and conditions and actions taken or omitted to be taken by third parties, including customers, suppliers, business partners, potential licensees, competitors and legislative, judicial and other governmental authorities and officials. Factors that could cause or contribute to such differences include, but are not limited to: unexpected outcomes with respect to intellectual property enforcement actions, claims of intellectual property infringement and general intellectual property litigation; our ability to maintain, develop, monetize and protect our patent portfolio for both the Company's health IT and biotechnology intellectual property assets in the U.S. and internationally; the timing of milestone payments in connection with licensing our intellectual property; our ability to establish and maintain strategic relationships; changes in our relationships with our licensees; the risk the Company's products are not adopted or viewed favorably by the healthcare community and consumer 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; the timing and volume of sales and installations; the length of sales cycles and the installation process; the market's acceptance of new product and service introductions; competitive product offerings and promotions; changes in government laws and regulations including the 2009 HITECH Act and changes in Meaningful Use and the 2010 Affordable Care Act; future changes in tax legislation and initiatives in the healthcare industry; undetected errors in our products; the possibility of interruption at our data centers; risks related to third party vendors; risks related to obtaining and integrating third-party licensed technology; risks related to a security breach by third parties; risks associated with recruitment and retention of key personnel; other litigation matters; 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, including disclosures about the Company's relationship with the Michael Bass Group since 2009. The Company is providing this information as of the date of this release and, except as required by applicable 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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