LOS ANGELES, May 15 /PRNewswire-FirstCall/ -- MMR Information Systems, Inc. (OTC Bulletin Board: MMRF) (the 'Company'), which was known as Favrille, Inc. until it acquired its subsidiary MyMedicalRecords, Inc. ('MMR') in January 2009, announced today that it had received a proposal to license certain of the Company's rights relating to a panel of anti-CD20 antibodies. Terms of the proposal were not announced.
In June 2007, prior to the MMR acquisition, then-named Favrille, Inc. announced that it had acquired from Diversa Corporation (now Verenium Corporation) a panel of anti-CD20 antibodies, along with the corresponding patents and an exclusive, royalty-free license to selected pending patents for commercialization of the panel.
Robert H. Lorsch, who became the Company's Chairman, President and Chief Executive Officer following the January 2009 acquisition of MMR, stated, 'We are pleased to learn that there is renewed interest in the anti-CD20 antibodies assets of the Company. Clearly, the focus of our combined company following the MMR acquisition earlier this year will continue to be on the Company's primary products, which are the MyMedicalRecords Personal Health Record and MyEsafeDepositBox electronic safe deposit box storage solution. However, we are interested in monetizing other assets, and we are retaining an independent consulting firm to analyze these anti-CD20 antibody assets and to assist us in evaluating any proposal.' Mr. Lorsch cautioned that, although discussions are ongoing, there can be no assurances that any licensing or other arrangement would be executed or, if executed, would provide any specified level of payments.
About MMR Information Systems, Inc.
MMR Information Systems, Inc. (formerly Favrille, Inc.), through its wholly-owned operating subsidiary, MyMedicalRecords, Inc. ('MMR'), 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, unions and professional organizations. MyMedicalRecords enables individuals and their families to access their medical records and other important documents -- such as birth certificates, passports, insurance policies, advance directives and wills -- anytime from anywhere using the Internet.
The proprietary MyMedicalRecords PHR service, accessed through www.mymedicalrecords.com, enables users to transmit and store documents, images and voicemail messages in the MyMedicalRecords PHR system using a variety of methods, including fax, phone, or file upload without relying on any specific electronic medical record platform. Users can access and organize the information easily, including filing particularly sensitive documents in virtual lockboxes protected by secondary passwords, while also designating certain records to be more readily accessible to medical personnel and first responders by way of a separate Emergency Login. MyMedicalRecords PHR also includes the Cerner Multum Drug Content database, licensed to MMR from Cerner Corp. (Nasdaq: CERN). The proprietary MyEsafeDepositBox service, available at www.myesafedepositbox.com, provides secure online storage for vital financial, legal and insurance documents in addition to medical records. In its final stages of development, MMR's MyMedicalRecords Pro service is designed to give physicians' offices an easy and cost-effective solution to the expense and time commitments otherwise involved in digitizing paper-based medical records. MyMedicalRecords clients include the AFL-CIO, Alexian Brothers Hospital Network, Coverdell, LegalZoom, MedicAlert, Midwest Research Institute, Qvisory, XN Financial and others. MyMedicalRecords is one of the integrated service providers on Google Health. Additional information regarding MMR's business and its products is available at www.mymedicalrecords.com. Information on MMR's Web sites is not incorporated by reference into this press release.
SOURCE MMR Information Systems, Inc.
