WORCESTER, Mass. and TORONTO, July 5, 2011 /PRNewswire/ -- Generex Biotechnology Corporation (OTCBB: GNBT) (www.generex.com) today announced that it has engaged Congressman Curt Weldon to assist in supporting the strategic development plan unveiled by the Company at a press conference in New York City on March 30, 2011.
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Congressman Weldon will source, evaluate, and introduce Generex to business and funding avenues, including licensing and research grant opportunities, in China, Taiwan, the United States Armed Services, and the global healthcare sector. Congressman Weldon will also provide advice and assistance to the Company in its relationships with governments and governmental agencies.
Congressman Weldon served in the US Congress for 20 years (1987-2007) and retired as Vice Chair of the Military Oversight Committee (HASC) as well as Vice Chair of the Homeland Security Committee. During his tenure, Weldon also served as a senior Member of the Science Committee and Chair of the Defense Research Committee where he provided oversight for all funding for the National Institutes of Health (NIH), the National Science Foundation (NSF) as well as all Military Medical Research Funding. Weldon also founded and Chaired the 4 State SMART Research Initiative. Weldon founded and Co-Chaired the Congressional Diabetes Caucus. He has keynoted multiple national Diabetes Group Conferences, won several National Diabetes Awards and is married to Mary Weldon, RN and a Certified Diabetes Educator.
During his 20 year tenure in Congress, Weldon founded and Co-Chaired bi-lateral Parliamentary Relationships with 12 countries and led bipartisan Congressional Delegation trips to over 100 nations worldwide. Weldon maintains high-level personal international business and government relationships and sits on the Boards of two international Nobel Oil Corporation Boards. He has led business delegations to over 40 nations since leaving Congress and continues to provide high level speeches such as the FOFM 2011 (Future of Financial Markets) Keynote Speech in Mumbai earlier this year attended by over 400 Indian Finance and Investment Leaders. He has met with Chairman/CEO Dr. BPS Reddy of the Hetero Group in the US twice this year to discuss US/India Pharma Cooperation. Hetero Group is the largest private Indian pharmaceutical corporation (>$2B). Weldon is currently spearheading the international ‘One World for Life’ disaster coordination and planning initiative.
Prior to his tenure in Congress, Weldon served as an educator/professor and worked as a Director in the Corporate HQ of the INA/CIGNA Corporation.
“We are delighted that Congressman Weldon has agreed to provide Generex with access to his vast global network of relationships, and to apply his expansive experience and expertise to the benefit of Generex,” commented Mark Fletcher, Generex President & Chief Executive Officer. Congressman Weldon stated: “I am impressed by the new management team at Generex and the strategic development plan for the Company they have begun to implement. I look forward to assisting Generex management in their efforts to create value for the Company’s stockholders.”
About Generex Biotechnology Corporation
Generex is engaged in the research, development, and commercialization 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 device. Antigen Express, Inc. is a wholly owned subsidiary of Generex. The core platform technologies of Antigen Express comprise immunotherapeutic vaccines for the treatment of malignant, infectious, allergic, and autoimmune diseases. Antigen Express has pioneered the use of specific CD4+ T helper stimulation in immunotherapy. One of its platform technologies relies on inhibition of expression of the Ii protein. Antigen Express scientists, and others, have shown clearly that suppression of expression of the Ii protein in cancer cells allows for potent stimulation of T helper cells and prevents the further growth of cancer cells. For more information, visit the Generex website at www.generex.com or the Antigen Express website at www.antigenexpress.com.
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. Risks and uncertainties relating to the proposed reverse stock split include the risks that (1) Generex will not meet the standards for listing its common stock on a national stock exchange; and (2) Generex will not meet or sustain the minimum share price requirement of a national stock exchange. 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 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 or ultimate regulatory approval cannot be regarded as actual predictions of when Generex will obtain regulatory approval for any “phase” of clinical trials or when it will obtain ultimate regulatory approval by a particular regulatory agency. Generex claims the protection of the safe harbor for forward-looking statements that is contained in the Private Securities Litigation Reform Act.
SOURCE Generex Biotechnology Corporation
