- President & CEO Joe Moscato and Head of Research Richard Purcell Present the “New” Generex to the Investment Community
MIRAMAR, Fla., Sept. 12, 2019 (GLOBE NEWSWIRE) -- Generex Biotechnology Corporation (OTCQB:GNBT) is pleased to announce that the presentation delivered by Joe Moscato, President & Chief Executive Officer and Richard Purcell, Senior Vice President of Research to the H.C. Wainwright Global Healthcare Investment Conference on Monday September 9, 2019 is now available as a webcast. Mr. Moscato and Mr. Purcell presented the Generex corporate strategy and operating plan, ongoing plans for up-listing GNBT to Nasdaq, and the exciting news about the pending acquisition of ALTuCELL and partnerships with Arizona Endocrinology Center and Paradise Valley Family Medicine to advance the treatment and management of diabetes through the NuGenerex end-to-end model for integrated disease management.
Mr. Moscato stated, “The partnerships we have established with the physician groups in Arizona under the banner of NuGenerex Health provide the platform for the future of Generex. We are re-establishing our diabetes franchise with our new model for integrated, comprehensive care with 65,000 patients, 25,000 of whom are insulin dependent. To make our model easy to understand, start with the complex, chronic patient, who accounts for the majority of healthcare costs in the U.S. With a focus on rebuilding the doctor/patient relationship we partner with specialists to provide ancillary business and clinical services through an MSO partnership with the physician groups; our MSO partners receive discount codes for NuGenerex products and services; we acquire companies like our new partner ALTuCELL to provide products and services that can be used by the physicians to take care of their patients; with the captive patient population to whom we are providing comprehensive specialty and primary care, NuGenerex Health intends to obtain to provide the end-to-end solutions under Medicare Advantage HMO contracts.”
Mr. Purcell said, “As announced on Monday, we so pleased to have the opportunity to acquire ALTuCELL, which has superior, patented microencapsulation technology for cell therapy, and which has 5 years of safety data in humans. The microcapsules will be available for licensing to biotech company partners who are seeking a solution for immune rejection and implantation safety for their cellular therapies. The value of cell encapsulation technology is well recognized, as demonstrated by the recently announced acquisition of Semma Therapeutics by Vertex, so we are very happy to have ALTuCELL as part of the NuGenerex family of companies. Additionally, ALTuCELL’s proprietary Altsulin® (microencapsulated Sertoli Cells) cellular therapy offers a potential cure for Type I diabetes; in the pre-clinical translational research in animals from rodents to primates, the microencapsulated Sertoli Cells not only activated pancreatic islet cells to secrete insulin, but also a rebalancing of the autoimmune response. We look forward to working with ALTuCELL CEO Gary Harlem and his team to become a leader in the treatment of diabetes, and we invite you to join the webcast at https://wsw.com/webcast/hcw5/gnbt/index.aspx.”
About Generex Biotechnology Corp.
Generex Biotechnology is an integrated healthcare holding company with end-to-end solutions for patient centric care from rapid diagnosis through delivery of personalized therapies. Generex is building a new kind of healthcare company that extends beyond traditional models providing support to physicians in an MSO network, and ongoing relationships with patients to improve the patient experience and access to optimal care.
In addition to advancing a legacy portfolio of immune-oncology assets, medical devices, and diagnostics, the Company is focused on an acquisition strategy of strategic businesses that complement existing assets and provide immediate sources of revenue and working capital. Recent acquisitions include a management services organization, a network of pharmacies, clinical laboratory, and medical device companies with new and approved products.
Our newly formed, wholly-owned subsidiary, NuGenerex Distribution Solutions (NDS), integrates our MSO network with a pharmacy network, clinical diagnostic lab, durable medical equipment company (DME-IQ) and dedicated call center.
About Olaregen Therapeutix
Olaregen Therapeutix, Inc. is a regenerative medicine company focused on the development, manufacturing and commercialization of products that fill unmet needs in the current wound care market. Generex aims to provide advanced healing solutions that substantially improve medical outcomes while lowering the overall cost of care. Olaregen's first product introduction, Excellagen (flowable dermal matrix) is a topically applied product for dermal wounds and other indications. Excellagen is a FDA 510K cleared device for a broad array of dermal wounds, including partial and full thickness wounds, pressure ulcers, venous ulcers, diabetic ulcers, chronic vascular ulcers, tunneled/undermined wounds, surgical wounds (donor sites/ grafts, post-Mohs surgery, post-laser surgery, podiatric, wound dehiscence), trauma wounds (abrasions, lacerations, second-degree burns and skin tears) and draining wounds, enabling Olaregen to market Excellagen in multiple vertical markets. Additionally, Excellagen can serve as an Enabling Delivery Platform for pluripotent stem cells, antimicrobial agents, small molecule drugs, DNA-Based Biologics, conditioned cell media and peptides. Olaregen's initial focus will be in advanced wound care including diabetic foot ulcers (DFU), venous leg ulcers and pressure ulcers. Future products focusing on innovative therapies in bone and joint regeneration comprise the current pipeline. Generex's mission is to become a significant force in regenerative medicine and advance the science of healing.
About our Service-Disabled Veteran-Owned Small Business (SDVOSB)
This a Service-Disabled Veteran-Owned Small Business (SDVOSB) that specializes in the sale, marketing, and distribution of innovative medical products through a nationwide network of veteran owned distribution services.
About Pantheon Medical
Pantheon Medical is a manufacturer of a physician friendly, “all-in-one”, integrated kit that includes plates, screws, and tools required for orthopedic surgeons and podiatrists conducting foot and ankle surgeries. Generex is developing and submitting several new product lines to the FDA which will include cannulated surgical screws, plates, and implants.
About MediSource Partners
MediSource Partners is a 10-year-old private company, currently contracted with over 25 vendors (including Pantheon Medical) for nationwide distribution of implants and devices for spine, hips, knees, foot, ankle, hand, and wrist surgeries. Additional product lines include biologics (blood, bone, tissue, stem cells), durable medical equipment, and soft goods. Generex also supplies kits to process bone marrow aspirates and platelet rich plasma biologics at the time of surgery.
Cautionary Note Regarding Forward-Looking Statements
This release and oral statements made from time to time by Generex representatives in respect of the same subject matter may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements can be identified by introductory words such as "expects," "plan," "believes," "will," "achieve," "anticipate," "would," "should," "subject to" or words of similar meaning, and by the fact that they do not relate strictly to historical or current facts. Forward-looking statements frequently are used in discussing potential product applications, potential collaborations, product development activities, clinical studies, regulatory submissions and approvals, and similar operating matters. Many factors may cause actual results to differ from forward-looking statements, including inaccurate assumptions and a broad variety of risks and uncertainties, some of which are known and others of which are not. Known risks and uncertainties include those identified from time to time in the reports filed by Generex with the Securities and Exchange Commission, which should be considered together with any forward-looking statement. No forward-looking statement is a guarantee of future results or events, and one should avoid placing undue reliance on such statements. Generex undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise. Generex claims the protection of the safe harbor for forward-looking statements that is contained in the Private Securities Litigation Reform Act.
Generex Biotechnology Corporation
1-800-391-6755 Extension 222