WORCESTER, MA -- (MARKET WIRE) -- April 23, 2007 -- Generex Biotechnology Corporation (NASDAQ: GNBT), the leader in drug delivery for metabolic diseases through the inner lining of the mouth, announced today that it has entered into an exclusive Master Product Licensing & Distribution Agreement with Leosons General Trading Company, a leading distributor of North American products in the Middle East, for the commercialization of Generex Oral-lyn, the Company's proprietary oral insulin spray product, in 15 Middle Eastern countries, including Saudi Arabia and the United Arab Emirates (UAE). In lieu of Generex receiving an upfront license fee, Leosons will bear any and all costs associated with the procurement of governmental approvals for the sale of the product, including any clinical and regulatory costs. The Agreement obligates Leosons to file all requisite applications for the approvals by the fall of 2007.
