LOS ANGELES, CA -- (Marketwired) -- 04/22/13 -- MMRGlobal, Inc. (OTCQB: MMRF) ("MMR") today announced that the Australian Patent Office has issued a Notice of Allowance (NOA) for the Company's anti-CD20 monoclonal antibody assets, #2007338607, under the title, "Antibodies and Methods for Making and Using Them." The patent application was originally filed on September 14, 2007. The Australian NOA is significant to the Company in that it reinforces the value of the U.S. antibody patent that was announced by the Company on April 15th, 2013 and the similar antibody patent issued in Mexico in August 2012. These patents for the Company's anti-CD20 monoclonal antibodies have particular utility in fighting cancers and are considered important assets of the Company based on benefits and commercial value 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. Additional patent applications for the Company's antibodies are pending in a number of other countries including Brazil, Canada, China, Hong Kong, India, Europe, Japan and Korea. In addition to its biotech patents, MMR currently has seven U.S. Health Information Technology (HIT) patents covering inventions pertaining to Personal Health Records (PHRs), Patient Portals and other Electronic Health Record systems which were the subject of a recent report on Personal Health Records and in particular the value of the Company's U.S. HIT patent portfolio (available at http://michaelbass.com/PDF/Patent_Valuation.pdf).
According to Robert H. Lorsch, MMRGlobal CEO, "Since the inception of MMR in 2005, the Company has incurred more than 40 million dollars in expenses to get our HIT products and services and related IP to where it is today. I am optimistic as I watch consumers and employers finally understand and embrace the importance of having a Personal Health Record. This is evidenced by activity everywhere, including the current Public Voting Campaign in New York at http://patientportalfornewyorkers.org and similar programs which we believe also may infringe on the Company's intellectual property. We're finally seeing the acceptance of health IT products and services such as Personal Health Records and patient portals in a market being driven globally by government regulations and usage mandates such as Meaningful Use Stage 2 in the United States. Our domestic Health Information Technology patent portfolio has been valued at as much as 1.1 billion dollars only months ago. If you discount that number by 80% it is still nearly 10 times the market cap of the Company. Also, the valuation does not include any value of the Company's international HIT IP or any value of the biotech assets already the subject of an eight figure license agreement. Bottom line is there appears to be tremendous upside in our Company."
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