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 Product Licensing & Distribution Agreement with Leosons General Trading Company, a leading distributor of North American products in the Middle East, for the distribution of the Company's proprietary Glucose RapidSpray(TM) product in 15 Middle Eastern countries, including Saudi Arabia and the United Arab Emirates (UAE).
Glucose RapidSpray(TM) is an innovative alternative for people who want additional glucose in their diet. The product delivers a fat-free, low-calorie glucose formulation directly into the buccal cavity using the Company's proprietary buccal drug delivery technologies. Glucose RapidSpray(TM) is simple to carry and use.
Glucose RapidSpray(TM) is already being marketed in the United States and Canada and is available in a number of leading retail chains.
"We are pleased that Glucose RapidSpray(TM) distribution channels will be expanded into this market," said Anna Gluskin, President & Chief Executive Officer of Generex. "Leoson's has demonstrated through its well-established distribution network that it can successfully introduce a product into Middle Eastern markets and manage the distribution process to generate significant sales."
Leosons is a 25-year old private multinational operating company in the Middle East focusing on the pharmaceutical and healthcare industry. Leosons distributes 15 healthcare-related products which are considered category leaders.
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, visit the Generex website at www.generex.com.
Safe Harbor Statement: 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:
800-391-6755 or 416-364-2551