Generex Biotechnology Announces New Updated Agenda for Shareholder Conference Call on Wednesday August 26th, 2020 at 9:30 AM
The access information for the investor conference call remains as follows:
Direct Toll / International – 1-(866) 831-8711
Domestic US/Canada - 1-(203) 518-9883
Program Title: Generex Biotechnology Corporation Conference Call
Conference ID – 89636
- FDA response to Pre-IND briefing package for Ii-Key-SARS-CoV-2 vaccine
- Meeting with the Canadian National Research Council to discuss moving the Ii-Key-SARS-CoV-2 vaccine technology forward
- Completed the deal with Worldwide Digitech, LLC (WWDT) to form NuGenHealth LLC, a 50%/50% joint venture with NuGenerex Health LLC, a wholly owned subsidiary of Generex
- Letter of Intent (LOI) signed with potential partners in China to develop the Ii-Key-SARS-CoV-2 vaccine for China with a proposed $5 million upfront payment upon contract signing and minimum of $400 million if the vaccine is proven successful in clinical trials.
- $20 Million Non-binding Memorandum of Understanding completed with an investor for a strategic upmarket transaction
- $10 Million financing proposal in the same MOU for the acquisition of infectious disease and cancer diagnostics company awaiting EUA approval from FDA for COVID-19 rapid diagnostic assay system
- ALTuCell acquisition update
- Completed a Non-Binding Memorandum of Understanding Regarding Development partnership for Ii-Key-SARS-CoV-2 in Malaysia worth up to $150 Million
MIRAMAR, Fla., Aug. 25, 2020 (GLOBE NEWSWIRE) -- Generex Biotechnology Corporation (www.generex.com) (OTCQB:GNBT) today announced a new updated agenda for the shareholder conference call on Wednesday, August 26th at 9:30 am.
During the call, Generex President & CEO Joe Moscato will discuss the previously published agenda including the FDA response and the meeting with the Canadian National Research Council on the COVID-19 vaccine program. Mr. Moscato will also discuss the signed non-binding memorandum of understanding with China for the Ii-Key-SARS-CoV-2 vaccine program in China, which is expected to become effective upon signing the final contractual agreements. Under the terms of the MOU, Generex will receive an upfront $5 million payment, the Chinese partners will fund 100% of the development costs, and Generex will be paid a minimum of $400 million when the vaccine is approved for commercial sale in China.
Additionally, Mr. Moscato will provide details of the just signed contract with WWDT to form NuGenHealth LLC to provide SaaS Remote Patient Monitoring and Chronic Care Management SaaS (software as a service) solutions for patients through partnerships with primary care and endocrinology practices in Arizona. The NuGenHealth system will also provide a path to re-launch our physician networks with a revenue generating model for web-based patient care.
Mr. Moscato said, “We continue to execute on our strategic and operational plans to bring revenues into the company via the NuGenHealth joint venture, and to advance our Ii-Key vaccine technology globally. I look forward to sharing details with shareholders tomorrow.”
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.
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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