MIRAMAR, Florida, April 29, 2019 /PRNewswire/ --
- Launch of ExcellagenÒ for Wound Healing by subsidiary
Olaregen Therapeutix
- Pending completion of acquisitions:
-
- Pantheon Medical, MediSource Partners, and Fuse Medical,
- Financing initiatives
- S1 Filing
- Application for up-list to national exchange
- Conference call scheduled for May 15,
2019
Generex Biotechnology Corporation (www.generex.com) (OTCQB:
GNBT) (http://www.otcmarkets.com/stock/GNBT/quote) today announced
that the company has scheduled an investor conference call for
May 15, 2019 with Joseph Moscato, President & Chief Executive
Officer of Generex who will present an organizational roadmap
outlining Generex Biotechnology's operational, strategic and
financial plans, as outlined herein.
Generex is pleased to announce that in the coming week, the
company will finalize a financing commitment to advance the
strategic goals of the company. The financing will be used to fund
manufacturing of commercial products, launch a clinical trial of
Regentys ECMH in ulcerative colitis, complete the acquisitions of
revenue generating companies, and to launch new service lines for
the NuGenerex Distribution Solutions MSO network.
On a commercial front, Generex is pleased to report that the
first orders of ExcellagenÒ wound conforming collagen matrix
from the company's subsidiary Olaregen Therapeutix has been
delivered, and the product has begun to generate revenues.
ExcellagenÒ is FDA cleared for the management of wounds,
including surgical wounds, diabetic foot ulcers, venous leg ulcers,
and post-MOHS surgery, among other types of dermal wounds.
As previously reported, Generex has agreements to acquire
Fuse Medical, Pantheon Medical, and MediSource Partners in
all-stock transactions using the Generex Pool Shares priced at
$2.50 per share. The Pool Shares are
already accounted for in the total outstanding shares and no new
shares will be issued for these transactions. The Pantheon and
MediSource acquisitions are expected to be completed shortly after
the close of this fiscal quarter (April
30), followed by the acquisition of Fuse Medical, which will
take additional time to close. These profitable, innovative,
and growing companies in the medical, surgical, and biologic
manufacturing and distribution business will add significant
revenue and EBITDA to the Generex balance sheet.
Fuse is a manufacturer and national distributor of medical
devices, providing a broad portfolio of Orthopedic Implants and a
wide array of osteobiologics, regenerative tissues, and amniotic
tissue, including human allografts, substitute bone materials and
tendons, and regenerative tissues and fluids ('Biologics').
Pantheon manufactures integrated surgical kits that include
plates, screws, and tools required for orthopedic surgeons and
podiatrists to perform foot and ankle surgeries. 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, and stem cells), durable medical
equipment, and soft goods. The company also supplies kits to
process bone marrow aspirates and platelet rich plasma biologics at
the time of surgery. Fuse Medical is a publicly-traded manufacturer
and supplier of a broad portfolio of specialty surgical products,
including orthopedic implants, and a complete line of regenerative
medicine products and biologics.
The acquisitions of Patheon, MediSource, and Fuse demonstrate
the synergies among the NuGenerex family of subsidiary companies in
advancing the Generex mission to deliver innovative end-to-end
solutions to our healthcare partners, physicians, and patients.
These companies' products will also be distributed through the
NuGenerex Distribution Solutions MSO. Additionally, Anthony J. Dolisi, President & Chief
Executive Officer of Olaregen, and Generex Chief Commercial Officer
is working with renowned surgeons and wound care experts at a major
medical center who are advisors on ExcellagenÒ. The advisors
have developed a robotic surgical supply cabinet, and Mr. Dolisi is
working with the NuGenerex partner companies to equip the cabinet
with surgical plates, screws and tools for distribution as an
integrated, computerized inventory management system for the
operating room. The companies are also working on the development
and distribution of new Regenerative Medicine Advanced Therapy
(RMAT) products combining ExcellagenÒ with stem cells and
exosomes.
Joe Moscato stated, "For the last
two and a half years, our management team has worked diligently to
transform Generex with a new vision for healthcare. We have been
successful in building value for our investors, as clearly
demonstrated by our recently reported financials, as well as by
projections for the soon to close acquisitions, which when
incorporated under Generex, will yield an estimated total of
$98 million in shareholder
equity. Following the end of this quarter, we plan to finalize
the financing, complete the previously announced acquisitions of
Pantheon Medical and MediSource Partners, followed by Fuse Medical
in all-stock transactions, file an S1 Registration statement with
the SEC, and file a request for up-list to a national exchange. It
is also important to point out that the Fuse Medical acquisition
will provide Generex with a public vehicle for the spin-out of our
wholly-owned subsidiary NuGenerex Immuno-Oncology (previously
Antigen Express). We are proud of the progress we have made to get
Generex back on a national exchange, and we are excited about our
future opportunities as we continue to execute on our commercial
operations, growth plans, and strategic initiatives, as outlined in
this announcement. I look forward to speaking with our investors on
May 15."
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 immuno-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 Therapeutics
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.
The company 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. The
company'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 Fuse Medical, Inc.
Fuse is a manufacturer and national distributor of medical
devices, providing a broad portfolio of internal and external
fixation products; upper and lower extremity plating and total
joint reconstruction; soft tissue fixation and augmentation for
sports medicine procedures; full spinal implants for trauma,
degenerative disc disease, and deformity indications,
(collectively, "Orthopedic Implants") and a wide array of
osteobiologics, regenerative tissues, and amniotic tissue,
including human allografts, substitute bone materials and tendons,
and regenerative tissues and fluids ("Biologics"). The Company's
broad portfolio of Orthopedic Implants and Biologics provide
high-quality products that assist surgeons in providing positive
patient outcomes and cost-effective solutions. For more information
about the Company, please visit: www.fusemedical.com.
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. The company also supplies kits
to process bone marrow aspirates and platelet rich plasma biologics
at the time of surgery.
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. The Company is developing and submitting
several new product lines to the FDA which will include cannulated
surgical screws, plates, and implants.
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 Contact:
Generex Biotechnology Corporation
Joseph Moscato
646-599-6222
Todd Falls
800-391-6755 Extension 222
investor@generex.com
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SOURCE Generex Biotechnology Corporation.