Generex Announces That the Process to Retire 20,37
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Posted On: 09/16/2019 3:28:32 PM
Generex Announces That the Process to Retire 20,375,900 GNBT “Pool Shares” is Complete
GlobeNewswire•September 16, 2019
Retirement of Pool shares will be Reflected in 31.9% reduction in Outstanding Shares
MIRAMAR, Fla., Sept. 16, 2019 (GLOBE NEWSWIRE) -- Generex Biotechnology Corporation (www.generex.com) (GNBT) (http://www.otcmarkets.com/stock/GNBT/quote) today announced that the legal and regulatory process to retire the 20,375,900 “Pool” shares is complete. Joe Moscato, Generex President & Chief Executive Officer, who controls the Pool to the benefit of Generex, has assigned the shares to the corporate treasury. In the coming days, the market will reflect the Pool retirement with a reduction in our outstanding share count by over 20 million shares.
Mr. Moscato stated, “By retiring the Pool shares, we are returning more value to Generex shareholders as we get closer to our Nasdaq listing, the annual board meeting and our 1:1 dividend scheduled to be paid to our shareholders on October 29th. We are fully confident in our go-forward plans to ignite our diabetes management platform and up-list to Nasdaq; plans are underway for the spin-out of NuGenerex Immuno-Oncology. We are also establishing NuGenerex Health in collaboration with our partners at Arizona Endocrinology Center and Paradise Valley Family Medicine to provide ancillary health and management services to a large population of patients with diabetes. Together with the clinics and the ongoing acquisition of ALTuCELL with their revolutionary cell therapy Altsulin, we have a powerful platform to build out our MSO and HMO model. We are particularly excited about Altsulin, ALTuCELL’s microencapsulated Sertoli cell therapy that offers the potential to cure Type I diabetes; the first in human trials of Altsulin are scheduled to begin in the fourth quarter of this year. We are driving toward success into the future and we will work with our development partners, the NuGenerex Health clinics and their patients to accelerate the clinical development path for Altsulin for Type I diabetes, and for the relaunch of our reformulated Oral-Lyn II buccal insulin spray for Type II diabetes.”
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. 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 Therapeuticx
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. Generex 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. Generex's mission is to become a significant force in regenerative medicine and advance the science of healing.
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Generex Biotechnology Announces Webcast and Invites All Shareholders to See and Listen to the Corporate Presentation from the 21st Annual H.C. Wainwright Global Healthcare Investment Conference
GlobeNewswire•September 12, 2019
President & CEO Joe Moscato and Head of Research Richard Purcell Present the “New” Generex to the Investment Community
http://wsw.com/webcast/hcw5/gnbt/index.aspx
MIRAMAR, Fla., Sept. 12, 2019 (GLOBE NEWSWIRE) -- Generex Biotechnology Corporation (GNBT) is pleased to announce that the presentation delivered by Joe Moscato, President & Chief Executive Officer and Richard Purcell, Senior Vice President of Research to the H.C. Wainwright Global Healthcare Investment Conference on Monday September 9, 2019 is now available as a webcast. Mr. Moscato and Mr. Purcell presented the Generex corporate strategy and operating plan, ongoing plans for up-listing GNBT to Nasdaq, and the exciting news about the pending acquisition of ALTuCELL and partnerships with Arizona Endocrinology Center and Paradise Valley Family Medicine to advance the treatment and management of diabetes through the NuGenerex end-to-end model for integrated disease management.
Mr. Moscato stated, “The partnerships we have established with the physician groups in Arizona under the banner of NuGenerex Health provide the platform for the future of Generex. We are re-establishing our diabetes franchise with our new model for integrated, comprehensive care with 65,000 patients, 25,000 of whom are insulin dependent. To make our model easy to understand, start with the complex, chronic patient, who accounts for the majority of healthcare costs in the U.S. With a focus on rebuilding the doctor/patient relationship we partner with specialists to provide ancillary business and clinical services through an MSO partnership with the physician groups; our MSO partners receive discount codes for NuGenerex products and services; we acquire companies like our new partner ALTuCELL to provide products and services that can be used by the physicians to take care of their patients; with the captive patient population to whom we are providing comprehensive specialty and primary care, NuGenerex Health intends to obtain to provide the end-to-end solutions under Medicare Advantage HMO contracts.”
Mr. Purcell said, “As announced on Monday, we so pleased to have the opportunity to acquire ALTuCELL, which has superior, patented microencapsulation technology for cell therapy, and which has 5 years of safety data in humans. The microcapsules will be available for licensing to biotech company partners who are seeking a solution for immune rejection and implantation safety for their cellular therapies. The value of cell encapsulation technology is well recognized, as demonstrated by the recently announced acquisition of Semma Therapeutics by Vertex, so we are very happy to have ALTuCELL as part of the NuGenerex family of companies. Additionally, ALTuCELL’s proprietary Altsulin® (microencapsulated Sertoli Cells) cellular therapy offers a potential cure for Type I diabetes; in the pre-clinical translational research in animals from rodents to primates, the microencapsulated Sertoli Cells not only activated pancreatic islet cells to secrete insulin, but also a rebalancing of the autoimmune response. We look forward to working with ALTuCELL CEO Gary Harlem and his team to become a leader in the treatment of diabetes, and we invite you to join the webcast at http://wsw.com/webcast/hcw5/gnbt/index.aspx.”
GlobeNewswire•September 16, 2019
Retirement of Pool shares will be Reflected in 31.9% reduction in Outstanding Shares
MIRAMAR, Fla., Sept. 16, 2019 (GLOBE NEWSWIRE) -- Generex Biotechnology Corporation (www.generex.com) (GNBT) (http://www.otcmarkets.com/stock/GNBT/quote) today announced that the legal and regulatory process to retire the 20,375,900 “Pool” shares is complete. Joe Moscato, Generex President & Chief Executive Officer, who controls the Pool to the benefit of Generex, has assigned the shares to the corporate treasury. In the coming days, the market will reflect the Pool retirement with a reduction in our outstanding share count by over 20 million shares.
Mr. Moscato stated, “By retiring the Pool shares, we are returning more value to Generex shareholders as we get closer to our Nasdaq listing, the annual board meeting and our 1:1 dividend scheduled to be paid to our shareholders on October 29th. We are fully confident in our go-forward plans to ignite our diabetes management platform and up-list to Nasdaq; plans are underway for the spin-out of NuGenerex Immuno-Oncology. We are also establishing NuGenerex Health in collaboration with our partners at Arizona Endocrinology Center and Paradise Valley Family Medicine to provide ancillary health and management services to a large population of patients with diabetes. Together with the clinics and the ongoing acquisition of ALTuCELL with their revolutionary cell therapy Altsulin, we have a powerful platform to build out our MSO and HMO model. We are particularly excited about Altsulin, ALTuCELL’s microencapsulated Sertoli cell therapy that offers the potential to cure Type I diabetes; the first in human trials of Altsulin are scheduled to begin in the fourth quarter of this year. We are driving toward success into the future and we will work with our development partners, the NuGenerex Health clinics and their patients to accelerate the clinical development path for Altsulin for Type I diabetes, and for the relaunch of our reformulated Oral-Lyn II buccal insulin spray for Type II diabetes.”
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. 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 Therapeuticx
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. Generex 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. Generex's mission is to become a significant force in regenerative medicine and advance the science of healing.
Continue reading
Start the conversation
glenn
Share your reaction
How are you feeling today?
BullishNeutralBearish
GuidelinesPost
Generex Biotechnology Announces Webcast and Invites All Shareholders to See and Listen to the Corporate Presentation from the 21st Annual H.C. Wainwright Global Healthcare Investment Conference
GlobeNewswire•September 12, 2019
President & CEO Joe Moscato and Head of Research Richard Purcell Present the “New” Generex to the Investment Community
http://wsw.com/webcast/hcw5/gnbt/index.aspx
MIRAMAR, Fla., Sept. 12, 2019 (GLOBE NEWSWIRE) -- Generex Biotechnology Corporation (GNBT) is pleased to announce that the presentation delivered by Joe Moscato, President & Chief Executive Officer and Richard Purcell, Senior Vice President of Research to the H.C. Wainwright Global Healthcare Investment Conference on Monday September 9, 2019 is now available as a webcast. Mr. Moscato and Mr. Purcell presented the Generex corporate strategy and operating plan, ongoing plans for up-listing GNBT to Nasdaq, and the exciting news about the pending acquisition of ALTuCELL and partnerships with Arizona Endocrinology Center and Paradise Valley Family Medicine to advance the treatment and management of diabetes through the NuGenerex end-to-end model for integrated disease management.
Mr. Moscato stated, “The partnerships we have established with the physician groups in Arizona under the banner of NuGenerex Health provide the platform for the future of Generex. We are re-establishing our diabetes franchise with our new model for integrated, comprehensive care with 65,000 patients, 25,000 of whom are insulin dependent. To make our model easy to understand, start with the complex, chronic patient, who accounts for the majority of healthcare costs in the U.S. With a focus on rebuilding the doctor/patient relationship we partner with specialists to provide ancillary business and clinical services through an MSO partnership with the physician groups; our MSO partners receive discount codes for NuGenerex products and services; we acquire companies like our new partner ALTuCELL to provide products and services that can be used by the physicians to take care of their patients; with the captive patient population to whom we are providing comprehensive specialty and primary care, NuGenerex Health intends to obtain to provide the end-to-end solutions under Medicare Advantage HMO contracts.”
Mr. Purcell said, “As announced on Monday, we so pleased to have the opportunity to acquire ALTuCELL, which has superior, patented microencapsulation technology for cell therapy, and which has 5 years of safety data in humans. The microcapsules will be available for licensing to biotech company partners who are seeking a solution for immune rejection and implantation safety for their cellular therapies. The value of cell encapsulation technology is well recognized, as demonstrated by the recently announced acquisition of Semma Therapeutics by Vertex, so we are very happy to have ALTuCELL as part of the NuGenerex family of companies. Additionally, ALTuCELL’s proprietary Altsulin® (microencapsulated Sertoli Cells) cellular therapy offers a potential cure for Type I diabetes; in the pre-clinical translational research in animals from rodents to primates, the microencapsulated Sertoli Cells not only activated pancreatic islet cells to secrete insulin, but also a rebalancing of the autoimmune response. We look forward to working with ALTuCELL CEO Gary Harlem and his team to become a leader in the treatment of diabetes, and we invite you to join the webcast at http://wsw.com/webcast/hcw5/gnbt/index.aspx.”
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