Generex Biotechnology Subsidiary Olaregen Therapeutics’ Wound Conforming Matrix, Excellagen®, Awarded Strategic Acquisition Centers (SAC) Biologic Blanket Purchase Agreement (BPA) Contract
- The BPA contract facilitates the sales and distribution of Excellagen across the VA system’s 165 hospitals
- Excellagen wound conforming matrix is used to manage wounds including Diabetic Foot Ulcers, that affect a staggering 21% of our veterans
MIRAMAR, Fla., March 30, 2020 (GLOBE NEWSWIRE) -- Generex Biotechnology Corporation (www.generex.com) (OTCQB:GNBT) (http://www.otcmarkets.com/stock/GNBT/quote) proudly announced that the company’s subsidiary Olaregen Therapeutics’ wound conforming matrix, Excellagen, has been awarded a Blanket Purchase Agreement (BPA) contract from the National Strategic Acquisition Center (SAC) through the efforts of AvMedical, Olaregen’s Small Disabled Veteran Owned Small Distributor (SDVOSD) partner. The VA’s National Contract and National BPA programs are used by VA medical centers, related facilities, specific State Veterans Homes, and other Federal facilities to procure select products based on clinical evidence, patient outcomes, and economic cost to the VA hospitals. The SAC awarded Excellagen a position on their biologics BPA through a rigorous evaluation of price, level of clinical evidence, and clinical efficacy that demonstrated the benefits of Excellagen for the management of hard to heal wounds. This award will expedite the purchasing of Excellagen at over 165 VA medical centers across the U.S. and Puerto Rico that treat veterans who suffer from diabetic foot ulcers, venous leg ulcers, and other difficult to manage wounds that disproportionately impact the veteran population.
Anthony J. Dolisi, President and Chief Executive Officer of Olaregen and Chief Commercial Officer for Generex said, “This is an exciting day for the commercialization of Excellagen in the VA Healthcare System. We started the BPA process with our distribution partner AvMedical back in August 2019, and we were always confident that Excellagen would offer positive clinical outcomes for veterans who are dealing with hard to heal wounds. Today, Excellagen is bringing great outcomes to several large VA hospitals, and with this new contract, we expect to expedite the acquisition process for Excellagen across the system thanks to the upfront work that has already been completed and approved by the SAC. The streamlined BPA ordering procedures reduce procurement lead time and administrative costs for our VA customers, and we expect this to have a significant impact of future sales.”
Dr. Lois Chandler, Chief Scientific Officer of Olaregen added, “We were grateful earlier this year when we were invited to present to the SAC’s subject matter experts in Virginia. We detailed our strong body of clinical evidence that supported positive healing rates for patients and remained confident that Excellagen added additional benefits to those veterans who have diabetic foot ulcers and other hard to heal wounds. As one of the inventors of this product, I am so pleased that this new BPA contract will open the door to more veterans gaining access to this technology.”
“I’d like to congratulate Tony Dolisi and his team at Olaregen, Generex’s 100%-owned subsidiary for achieving this huge commercialization milestone that will pave the way to significant revenues for Excellagen. This is the biggest news that we could have received from the SAC committee, as this award enables us to now fully commercialize Excellagen across the VA system”, said Joseph Moscato, CEO of Generex. “To date we have been painstakingly presenting our Excellagen data for approval by the Value-Added Committees (VACs) at individual VA hospitals, one by one. It has taken over a year to open only a few VA’s through this arduous process, however, with this coveted accreditation by the SAC, all 160 VA hospitals can easily purchase Excellagen through the BPA. The pending S1, once it is made effective by the SEC, will provide the funding necessary to significantly grow Excellagen sales with the hiring of dozens of sales reps and increasing Excellagen manufacturing capacity to supply the 160 VA hospitals that treat over one million veterans with hard to manage wounds.”
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.
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