Generex Biotechnology Announces Corporate Update and Investor Conference Call: Addressing the Coronavirus Pandemic with Ii-Key Peptide Vaccines - Thursday February 13, 2020 at 11:00 AM EST
MIRAMAR, Fla., Feb. 10, 2020 (GLOBE NEWSWIRE) -- Generex Biotechnology Corporation (www.generex.com) (OTCQB:GNBT) today announced that Joe Moscato, President & Chief Executive Officer and the team from NuGenerex Immuno-Oncology will hold an investor conference call on Thursday February 13, 2020 at 11:00 AM Eastern time.
- 2019-nCOV coronavirus initiatives
- 5/2 dividends in Generex and NuGenerex Immuno-Oncology
- ALTuCELL Closing
- S1 funding update
- Nasdaq listing update
- NGIO spinout directly to Nasdaq
- Arizona operations Update
On the call, Mr. Moscato and his team will provide an overview of how NuGenerex Immuno-Oncology’s Ii-Key technology is clinically proven to activate the immune system against numerous viruses including H5N1 avian influenza virus and a review of work with development partners & government agencies to implement Ii-Key peptide vaccines to implement a rapid response vaccination strategy that can provide immunity to the 2019-nCOV and Avian influenza (Bird Flu). Additionally, management will discuss the opportunity for NuGenerex Diagnostics to develop a rapid test for 2019-nCOV in respiratory and blood samples using its proprietary NGDx Express 2 rapid diagnostic technology.
Mr. Moscato will also provide details on a variety of upcoming corporate actions, including closing of the ALTuCELL acquisition, the S1 funding, an update on the Nasdaq listing process, the public spinout of NGIO directly to Nasdaq, and an overview of plans to initiate the Arizona operations and partnerships with physician groups to establish an end-to-end, comprehensive solution for managing patients with diabetes.
Mr. Moscato said, “As announced last week, we will finally pay our stock dividend to our valuable shareholders on February 24th. This dividend fulfills the promises we made when we took over as management three years ago to reward shareholders when we advance our strategy to rebuild Generex. Once the dividend is paid, we can price the S1 and take in our funding, which will enable us to execute on our go forward plans. The S1 funding will allow us to close ALTuCELL and initiate clinical trials of their cell encapsulation technology for the treatment of Type I and Type II diabetes. Continuing our efforts in diabetes management, we plan to start our Arizona operations and begin the buildout of our multi-specialty, integrated care model for diabetes patients in collaboration with our physician partners at three major primary care and endocrinology practices under the banner of NuGenerex Health. Additionally, we have secured a surgery center as part of our integrated care model, which will advance our ultimate goal to set up the NuGenerex Health MSO and HMO in Arizona.”
Mr. Moscato continued, “With the impending S1 funding, we can fully fund the commercial operations of our subsidiaries with the sales, marketing, and operating budgets that our FDA cleared products deserve. We will expand the Excellagen sales force, and roll out two new product offerings from Olaregen, Dermacell and Olarex, which we expect to generate significant sales going forward. We are also excited about the launch of Excellagen Aesthetics in the aesthetic dermatology market. We will also expand the sales and marketing effort and build the inventory of MediSource Partners and Pantheon to focus on geographic expansion and revenue growth.”
“In addition to funding our revenue generating subsidiaries we will fund our clinical development stage subsidiaries, including Regentys, which will initiate the manufacturing and clinical supply of Extra-Cellular Matrix Hydrogel (ECMH™) for the treatment of ulcerative colitis and inflammatory bowel diseases. We will continue to fund NuGenerex Immuno-Oncology and our ongoing Phase II clinical trial of AE37 peptide immunotherapeutic vaccine in combination with pembrolizumab (Merck’s Keytruda®) which is currently recruiting patients. We are excited that once the dividend is paid, we will be able to execute on all of our endeavors that will manifest into the enterprise we envisioned when we took over Generex with a promise to build shareholder value. Part of that strategy was to reclaim the value of our immunotherapy assets that include AE37 and the Ii-Key technology for cancer immunotherapy, and we are now positioned to realize that goal through the spin-out of NuGenerex immuno-Oncology (NGIO) as a separate public company on the Nasdaq.”
Mr. Moscato concluded, “The emergence of the coronavirus pandemic reminds us of the mid-2000’s when Generex maintained a robust and successful research effort to make a rapid-response pandemic virus vaccine based on the Ii-Key technology that the company utilizes for our cancer immunotherapy program. A decade ago, Dr. Eric von Hofe, Chief Scientific Officer of NGIO and his team developed potential Ii-Key peptide vaccines for avian influenza (bird flu), swine flu, and SARS. Dr. von Hofe will discuss how Generex can revive the Ii-Key pandemic R&D program to fight the threat of the deadly 2019-nCOV pandemic, how our Ii-Key technology works to generate a protective immune system response, and how fast, easy and cost effective we can manufacture Ii-Key vaccines given our vast experience in the field. We also hope to provide an update on potential opportunities on which we have been working with Chinese entities and partners to deploy our Ii-Key peptide vaccine solution in China.”
As always, Generex President & Chief Executive Officer, Joseph Moscato welcomes questions from shareholders during the call.
Dial-in instructions for the investor conference call will be announced prior to the meeting date.
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.
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.
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