MIRAMAR, Fla., Oct. 01, 2019 (GLOBE NEWSWIRE) -- Generex Biotechnology Corporation (www.generex.com) (GNBT) (http://www.otcmarkets.com/stock/GNBT/quote), is pleased to announce that their subsidiary, Olaregen Therapeutix, Inc. today officially launched the Excellagen 3.0 cc pre-filled syringe, which is specifically designed for use in the surgical suite. The addition of the 3cc size to the Excellagen product line will allow vascular surgeons to treat larger, hard to heal wounds like venous leg ulcers or venous stasis ulcers (VLUs or VSUs), which affect 1% of the adult population and 3.6% of people older than 65 years. (Ulcers.2013;2013:413604).
In the United States, VSUs have been estimated to contribute to significant direct and indirect healthcare and personal costs including loss of productivity, which accounts for more than 2 million days of absence from work and decreased quality of life. VSUs reportedly incur treatment costs of approximately $3 billion per year (Ulcers. 2013;2013:413604). Failure to treat VSUs may lead to severe complications including infection and/or amputation and increased risk of morbidity and mortality (Surgical Science. 2013;4(2):144-150.). Excellagen is an FDA- 510(k) cleared Cellular Tissue Product with an indication for the management of wounds including Diabetic Foot Ulcers, VSUs, and fifteen other wound management indications. Excellagen 3.0 cc is a ready to use 3-dimensional wound conforming matrix that supports a favorable wound healing environment for hard to heal wounds. It is designed to accelerate granulation and tissue growth by providing a structural scaffold for cellular migration and proliferation, activating platelets, and triggering the localized release of endogenous growth factors including Platelet-Derived Growth Factor (PDGF), a key biological mediator of wound healing.
John Sentman, Vice President Business Strategy at Olaregen Therapeutix stated, “The Excellagen 3.0 cc syringe applicator provides surgeons with a cellular tissue product that is easy to use and apply for large, hard to heal wounds, without the cutting and suturing required for graft-based products. Additionally, with our variable size options of 0.5, 0.8, and now 3.0 cc’s, surgeons can choose the size that is appropriate to the patient’s individual wound, reducing waste and cost. We are excited about the expanded market opportunities that the 3.0 cc Excellagen offers. In addition to our focus on the vascular surgery market, we see the 3.0 cc Excellagen providing additional benefits for the management of 2nd degree burns, pressure ulcers, and post Moh's surgical wounds.”
About Generex Biotechnology Corporation
Generex Biotechnology Corporation 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 immuno‐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.
Our newly formed, wholly‐owned subsidiary, NuGenerex Distribution Solutions (NDS), integrates our MSO network with a pharmacy network, clinical diagnostic lab, durable medical equipment company (DME‐IQ) and dedicated call center.
Revenue from the Company’s subsidiaries will support clinical advancement of its wholly owned therapeutic products with a focus in immunotherapeutics based on stimulating critical members of the immune response, known as T helper cells, and its proprietary buccal administration of insulin.
About Olaregen Therapeutix, Inc.
Olaregen Therapeutix, Inc. is a regenerative medicine company focused on the development, manufacturing and commercialization of products that fill unmet needs in the current wound care market. The company aims to provide advanced healing solutions that substantially improve medical outcomes while lowering the overall cost of care. Olaregen's first product introduction, Excellagen (flowable dermal matrix) is a topically applied product for dermal wounds and other indications. Excellagen is a FDA 510K cleared device for a broad array of dermal wounds, including partial and full thickness wounds, pressure ulcers, venous ulcers, diabetic ulcers, chronic vascular ulcers, tunneled/undermined wounds, surgical wounds (donor sites/ grafts, post-Mohs surgery, post-laser surgery, podiatric, wound dehiscence), trauma wounds (abrasions, lacerations, second-degree burns and skin tears) and draining wounds, enabling Olaregen to market Excellagen in multiple vertical markets. in bone and joint regeneration comprise the current pipeline. The company's mission is to become a significant force in regenerative medicine and advance the science of healing.
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 Contacts:
Joseph Moscato
646-599-6222
Todd Falls
1-800-391-6755 Extension 222
investor@generex.com