MIRAMAR, Fla., May 16, 2019 (GLOBE NEWSWIRE) -- Generex Biotechnology Corporation (www.generex.com) (OTCQB:GNBT) (http://www.otcmarkets.com/stock/GNBT/quote) is pleased to announce that its Subsidiary, Olaregen Therapeutix has officially launched Excellagen Wound Conforming Matrix. Generex and Olaregen launched Excellagen during its debut at The Symposium on Advanced Wound Care (SAWC) in San Antonio, TX. SAWC is the premier interdisciplinary wound care program in the United States. Its annual gathering hosted wound care clinicians and renowned educators from the United States and around the world and garnered over 2000 attendees. This 5-day event brings wound care professionals together and features 80+ sessions across 6 dynamic tracks, covering practical approaches to wound care and the very latest developments in wound healing research.
On Tuesday, May 7, 2019, SmartTRAK presented the latest Trends, Opportunities and Innovations in Advanced Wound Care at SAWC Spring. Susan Paquette, VP & General Manager and Lennart Stadler, Senior Analyst, both of SmartTRAK, were the featured speakers. Ms. Paquette focused on the Biologic segment and spoke to three new innovative products introduced to the Cellular Tissue Product Market. One of the three featured technologies was Excellagen, Olaregen's Formulated Fibrillar Collagen (2.6%) Wound Conforming Matrix. Excellagen was chosen among this group based on its clinical data from the Randomized Controlled, Multiple Centered Clinical Study where Excellagen closed Diabetic Foot Ulcers in 1.6 applications, potentially reducing the overall cost of treating hard to heal wounds. With CMS evaluating the current fee for service model and potentially moving more towards more of an episodic payment, Excellagen's positive clinical results could benefit clinicians and payers in any future payment model changes.
Olaregen is poised to become a significant force in regenerative medicine, as we are providing comprehensive training to over 75 biotech sales professionals for specialty hospital sales across the US, strategically concentrating our efforts in key metropolitan areas. We have had unprecedented interest from new, potential partners proceeding and following SAWC, and we are building our sales team and growing our distribution channels to serve the wound care market. "It is truly fulfilling to hear how excited the sales team is to sell our new regenerative medicine product, and how eager physicians are to evaluate Excellagen in practice. So many of our team and customers enthusiastically say to me that Excellagen will have a positive impact on patients and caregivers, providing an exciting treatment option for providers that treat hard to manage wounds." Scott Emmens, Sr. VP of Sales and Business Development.
CEO Anthony J. Dolisi stated, "Olaregen recognizes the significance of sound partnerships and solid execution and has worked diligently to secure the core channels of a successful commercial product. On May 14th , Olaregen secured a 3pl and distribution agreement with McKesson, and our sales team, in conjunction with our distribution network, spans the United States for a national footprint. These commercialization efforts will focus on sales to hospital surgical suites, acute care centers, and hospital operating rooms. Additionally, Olaregen has secured sales support for our Service-Disabled Veteran-Owned Small Business (SDVOSB) partners to best service and support the VA and Department of Defense. We look forward to an exciting 2019 for Excellagen."
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.
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 Biotechnology Corporation
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Source: Generex Biotechnology Corporation