PURA - Puration Announces Agreement with Generex Biotechnology to Develop and Produce CBD HydroHealth High Alkaline Health Wa...
November 26 2018 - 9:55AM
InvestorsHub Cannabis NewsWire
Dallas, TX -- November 26, 2018 --
InvestorsHub NewsWire -- Puration, Inc. (USOTC:
PURA) today
announced an agreement with Generex Biotechnology Corporation
(OTCQB:
GNBT) to develop and
produce NuGenerex CBD HydroHealth High Alkaline Water. The
CBD used in the NuGenerex CBD HydroHealth product line will be
exclusively derived from industrial hemp using a patented
extraction process that yields ultra-purified and characterized CBD
formulations. The agreement is anticipated to add over $1 million
in new product sales in 2019 for Puration separate from the ongoing
existing product sales that have generated approximately $1 million
in reported trailing twelve-month
revenue.
Generex plans
to build on Puration’s track record in developing and marketing a
successful line of CBD infused drinks in the sports nutrition
market. Under the terms of the agreement, Puration will
refine its patented extraction process to develop proprietary CBD
formulations for NuGenerex CBD HydroHealth Water, which will be
sold as therapeutic supplements for health maintenance in
conditions in which CBD therapy has shown promise including,
arthritis, epilepsy, chronic pain, generalized anxiety, diabetes,
and cancer. The FDA has already
approved a formulation of CBD called
EpidiolexÒ for childhood
epilepsy. Generex CBD HydroHealth Water is the first of a
planned product line of NuGenerex CBD therapies, from alkaline
water formulations to salves and creams for pain management that
will be marketed through our wholly-owned subsidiary NuGenerex
Distribution Solutions. The agreement with Puration is an
initial step in the development of a larger and more comprehensive
strategy where Generex is exploring the possible acquisition of US
Cannabis Health, a joint venture company that includes Puration’s
participation with other innovators in the pursuit of developing
new cannabinoid therapies.
“In anticipation
of the agreement announced today with Generex, we have already been
working on new CBD extracts to support Generex’s therapeutic
objectives.” Said Brian Shibley, CEO of Puraiton, Inc. “With our US
Cannabis Health partners, we are confident in the potential of the
new extracts to meet and exceed Generex’s expectations. We
are honored to be engaged by a company the caliber of Generex on
this exciting project.”
“Subject to testing and corresponding
regulatory approvals, we’re targeting a million-bottle launch of
Generex CBD HydroHealth Water in 2019,” Said
Joseph Moscato, Generex President & Chief
Executive Officer. “Given the network of pharmacies Generex
owns itself, we are confident we can achieve if not exceed our
million-bottle launch target. Puration’s experience and the caliber
of Puration’s underlying extraction technology combined with the
recently updated production facilities of Puration’s co-packer, are
instrumental in Generex’s plan to rapidly launch NuGenerex CBD
HydroHealth Water.”
“We are
especially excited about Puration’s patented extraction technology
that enables us to explicitly define and characterize the CBD and
cannabinoid content of hemp extracts to develop proprietary,
patented formulations for NuGenerex”, said Jason Terrell, MD, Chief
Medical and Scientific Officer of Generex; “Through NuGenerex
Distribution Solutions, we have the consumer connections,
technology, and HIPAA compliant systems that will enable us to
compile real world evidence on the safety and effectiveness of our
NuGenerex CBD products for health maintenance in a variety of
chronic conditions.”
About Puration,
Inc.
Puration, Inc. is a leading Texas-based,
CBD-infused beverage provider. The Company’s flagship product,
EVERx, which was introduced in 2017, targets the sports nutrition
market. Puration plans to introduce new beverages organically in
addition to making targeted
acquisitions.
To learn more
about Puration at www.purationinc.com.
About Generex
Biotechnology
Corporation
Generex is a
strategic, diversified healthcare holdings company with offerings
in a variety of services, diagnostics, Health devices, and
pharmaceutical development.
The Company’s
direct-to-patient services support its strategy of all-inclusive
access to doctors, diagnostics, therapeutics, and additional
health-related services to greatly improve the patient experience
in receiving care.
On the provider
side, Generex’s management services remove administrative burdens
in multiple provider settings, including private practice and
hospital, allowing doctors to devote more time to patient
care.
Revenue from the
Company’s subsidiaries will support clinical advancement of its
wholly owned therapeutic products with a focus in
immunotherapeutics based on stimulating critical members of the
immune response, known as T helper cells, and its proprietary
buccal administration of
insulin.
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.
Contact:
Generex Biotechnology Corporation
Joseph Moscato
646-599-6222
Todd Falls
800-391-6755 Extension 222
investor@generex.com
Russo Partners
Investor / Media Contacts:
Alex Fudukidis
(646) 942-5632
alex.fudukidis@russopartnersllc.com
Caroline Cunningham
(212) 845-4292
Caroline.Cunningham@russopartnersllc.com
Puration, Inc.
Brian Shibley,
info@aciconglomerated.com
(800) 861-1350
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