NEW YORK, Dec. 7 /PRNewswire-FirstCall/ -- Generex Biotechnology Corporation , a leader in treating metabolic diseases via drug delivery through the inner lining of the mouth, and Inyx, Inc. , a specialty pharmaceutical company focused on niche drug-delivery technologies and products, announced today that the two companies have signed a letter of intent for Inyx to serve as the exclusive manufacturer of Generex's proprietary Glucose RapidSpray(TM), its new confectionary glucose oral-spray product.
The three-year agreement, which is expected to commence in the first quarter of 2007, includes technical transfer, commercial manufacturing, packaging and supply. Inyx will be the sole producer of Glucose RapidSpray(TM) for Generex in worldwide markets, with the exceptions of Canada and the Republic of Ecuador.
Glucose RapidSpray(TM) is an innovative alternative for people who require or want additional glucose in their diet. It delivers a fat-free, low-calorie glucose formulation that was developed using Generex's proprietary buccal drug-delivery technologies. The formulation is delivered via spray to the inner lining of the mouth, with no lung deposition. Glucose RapidSpray(TM) is convenient to carry and simple to use. It provides swift, effective results without large tablets to chew or messy gels to swallow.
In making the announcement, Anna Gluskin, President & Chief Executive Officer of Generex, commented, "We are pleased to combine Generex's patented technologies with Inyx's drug-delivery production expertise to bring to market a more efficacious product for responding to the symptoms of low blood sugar."
Jack Kachkar, M.D., Chairman of Inyx, Inc., said, "We are very pleased that Inyx has been selected for the commercial production of Glucose RapidSpray(TM), and we look forward to a long-term relationship with Generex, a new client."
Generex is engaged in the research and development of drug-delivery systems and technologies. Generex has developed a proprietary platform technology for the delivery of drugs into the human body through the oral cavity (with no deposit in the lungs). The Company's proprietary liquid formulations allow drugs typically administered by injection to be absorbed into the body by the lining of the inner mouth using the Company's proprietary RapidMist(TM) device. The Company's flagship product, oral insulin (Generex Oral-lyn(TM)), which is available for sale in Ecuador for the treatment of patients with Type-1 and Type-2 diabetes, is in various stages of clinical trials around the world. For more information, please visit: http://www.generex.com or http://www.glucoserapidspray.com.
Inyx, Inc. is a specialty pharmaceutical company with niche drug-delivery technologies and products for the treatment of respiratory, allergy, dermatological, topical and cardiovascular conditions. Inyx focuses its expertise on both prescription and over-the-counter pharmaceutical products, and provides specialty pharmaceutical development and production consulting services. In addition, Inyx is developing its own proprietary products. The company's operations are conducted through several wholly owned subsidiaries: Inyx USA Ltd., based in Manati, Puerto Rico; Inyx Pharma Ltd. and Inyx Europe Limited, which owns and operates Ashton Pharmaceuticals Ltd., all near Manchester, England; Inyx Canada, Inc. in Toronto; and Exaeris, Inc., based in Exton, Pennsylvania, which conducts Inyx's marketing and distribution activities. Inyx, Inc.'s corporate offices are in New York City. For more information, please visit: http://www.inyxgroup.com.
Inyx Safe Harbor
Statements about the Inyx's future expectations, including future revenues and earnings, and all other statements in this press release other than historical facts, are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. Inyx intends that such forward-looking statements be subject to the safe harbors created thereby. Since these statements involve risks and uncertainties and are subject to change at any time, Inyx's actual results could differ materially from expected results.
Generex Safe Harbor: This release and oral statements made from time to time by Generex representatives concerning 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," "plans," "intends," "believes," "will," "estimates," "forecasts," "projects" 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 cannot be sure when or if it will be permitted by regulatory agencies to undertake additional clinical trials or to commence any particular phase of clinical trials. Because of this, statements regarding the expected timing of clinical trials cannot be regarded as actual predictions of when Generex will obtain regulatory approval for any "phase" of clinical trials. Generex claims the protection of the safe harbor for forward-looking statements that is contained in the Private Securities Litigation Reform Act.
For more information, please contact:
Shayne Gilliatt of Generex
800-391-6755 or 416-364-2551
Andrew Hellman of CEOcast, Inc.
Dolores Naney of Rubenstein Public Relations
Jay M. Green, Executive Vice President of Inyx, Inc.
Bill Kelly, Vice President, Investor Relations of Inyx, Inc.
CONTACT: For Generex: Shayne Gilliatt of Generex, +1-800-391-6755, or+1-416-364-2551, or Andrew Hellman of CEOcast, Inc., +1-212-732-4300, orDolores Naney of Rubenstein Public Relations, +1-212-843-8018; email@example.com; or For Inyx: Jay M. Green, Executive VicePresident of Inyx, Inc., +1-212-838-1111, or firstname.lastname@example.org, or BillKelly, Vice President, Investor Relations of Inyx, Inc., +1-212-838-1111,or email@example.com