LOS ANGELES, CA--(Marketwired - Jun 20, 2013) - MMRGlobal, Inc. (
According to Robert H. Lorsch, MMRGlobal CEO, "Today's development is one chapter in my version of MMR's Never Ending Story. MMR's patent strategy is to continue to expand its portfolio to cover our ongoing developments in technology, which will increase licensing opportunities and value to existing licensees who benefit when new patents are granted. MMR already has numerous additional HIT patent applications pending. MMR also plans to continue to file continuation patent applications directed to expanding claims in selected markets such as pharmacies, Personal Health Records, and patient portals, amongst others."
John Goodhue of McKee Voorhees & Sease, MMR's patent attorneys since the inception of the filing of its HIT patents, stated, "The 28 additional claims from the 'Prescription Management' NOA announced today are directed toward online access and management of prescriptions and should increase the value of MMR's intellectual property, specifically as it pertains to current efforts to license hospitals, major retail pharmacies, mass merchandisers with pharmacies inside, and others."
In addition to what will be eight issued U.S. patents, MMR's health information technology patent portfolio also includes 21 other pending U.S. applications in addition to issued patents and pending applications in other countries of commercial interest including Australia, Singapore, New Zealand, Mexico, Japan, Canada, China, Hong Kong, South Korea, Israel, and European nations.
Additionally, the Company acquired biotechnology intellectual property separate from its health IT portfolio as a result of its reverse merger with Favrille, Inc., a biopharmaceutical company, in January 2009. After investing more than $100 million in research and development on its FavId™/Specifid™ vaccine trials and use of customized tumor cells to treat lymphoma patients and other technologies. MMR's biotech assets include an extensive portfolio including its anti-CD20 monoclonal antibodies, data from vaccine trials, thousands of patient tumor samples and other intellectual property which the Company has already licensed to a major pharmaceutical company under a $13 million non-exclusive licensing agreement of which approximately $12 million remains unpaid.
Although MMRGlobal also continues working to license and otherwise exploit its portfolio of biotech assets, it remains focused on its primary health IT business which consists of seven U.S. patents already issued -- U.S. Patent Nos. 8,301,466; 8,352,287; 8,352,288; 8,121,855; 8,117,646; 8,117,045; and 8,321,240 -- as well as additional applications and continuation applications involving inventions pertaining to Personal Health Records, Patient Portals and other Electronic Health Record systems. The Company's health IT patent portfolio was the subject of a May 2, 2013 report on Personal Health Records that concluded that the value of the Company's U.S. patents could reach between $800 million to $1.1 billion in revenue (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. MMR'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, MMR 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 MMR'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 MMR'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 MMR'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 MMR'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 MMR's filings with the Securities and Exchange Commission, including disclosures about relationship with the Michael Bass Group since 2009. MMR 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.