GNBT - Generex Biotechnology
Announces Organizational Roadmap & Investor Conference
Call
Update on Product
Launch, New Acquisitions, Financing, Expansion Initiatives &
Strategic Plans
- 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
MIRAMAR, FL -- April 29, 2019 --
InvestorsHub NewsWire -- 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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