The Company's Branch Office in the United Arab Emirates Begins
Implementing Distribution Networks Outside of the Middle East and
North Africa
Implementation of Media Campaign in the United States is Expected to
Increase Market Opportunities
WORCESTER, Mass., Sept. 22, 2009 (GLOBE NEWSWIRE) -- Generex Biotechnology Corporation (Nasdaq:GNBT), the leader in drug delivery for metabolic diseases through the inner lining of the mouth, today announced that it has recently increased its presence in the global marketplace through its branch office, Generex Biotechnology Corporation MENA, which has its offices in the exclusive Dubai Healthcare City complex in Dubai, United Arab Emirates. Since its inception in early 2008, Generex MENA has been busy filing marketing applications for the Company's product line in over 25 countries. To date, approvals for the sale of the Company's confectionary and ethical line of products have been achieved in a number of countries in the MENA region.
While Generex MENA anticipates achievement of additional regulatory milestones, it has been increasingly successful in making sales of the Company's confectionary line of products.
As Dubai, United Arab Emirates has recently become a premier global location for commerce, Generex MENA has taken advantage of its surroundings and has reached into territories outside of MENA. It is now servicing all of Africa, Australia, New Zealand, Eastern Europe, and the countries of the European Union.
Generex MENA will continue the filing of regulatory dossiers in MENA and will also continue to implement its sales strategy throughout the region. As the Company recently received U.S. Food and Drug Administration approval of a Treatment IND for the emergency use of Generex Oral-lyn(TM), the Company's proprietary oral insulin spray product, other regulatory jurisdictions in the Middle East and beyond may consider this to be a significant development.
"Generex MENA has been proven an efficient and effective point for our international sales efforts," said Bill Abajian, the Company's Sr. Executive Advisor of Global Business Development. "While continuing on the trail of sales and regulatory approvals, we saw a niche in the market and an opportunity to expand; naturally we adapted," he continued.
Last week, the Company implemented a new media campaign starting with radio ads for two of its products -- CraveNx(TM) Diet Spray (www.Crave-Nx.com) and BaBoom!(TM) Energy Spray (www.BaBoomEnergySpray.com). The radio ads (http://www.barkerdzp.com/cravenx/ http://www.barkerdzp.com/baboom/) have been launched in targeted markets including New York, New Jersey, Houston, and Dallas with television advertising in major markets to follow.
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. The Company's flagship product, oral insulin (Generex Oral-lyn(TM)), which is available for sale in India, Lebanon, Algeria, and Ecuador for the treatment of subjects with Type-1 and Type-2 diabetes, is in Phase III clinical trials at several sites around the world. Antigen Express, Inc. is a wholly owned subsidiary of Generex. The core platform technologies of Antigen Express comprise immunotherapeutics for the treatment of malignant, infectious, allergic, and autoimmune diseases. For more information, visit the Generex website at www.generex.com or the Antigen Express website at www.antigenexpress.com.
The Generex Biotechnology Corp. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=3831
Safe Harbor Statement
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," "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 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 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.