Medgenics Awarded $3.4 Million Grant From the Israeli Office of the Chief Scientist

PHILADELPHIA, June 11, 2015 (GLOBE NEWSWIRE) –Medgenics, Inc.(NYSE MKT:MDGN), the developer
of a proprietary platform for the sustained production and delivery of therapeutic proteins and peptides in patients
using ex vivo gene therapy and their own tissue for the treatment of rare and orphan diseases, today announced that
its wholly owned subsidiary, Medgenics Medical Israel Ltd. (MMI), was awarded a government grant of up to NIS
13.3 million (approximately USD 3.4 million) from the Office of the Chief Scientist (OCS) at the Ministry of
Economy of Israel.

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