GNBT Subsidiary Olaregen Therapeutix Sponsors Prestigious Diabetic
Limb Salvage Conference in Washington D.C.
Inventor Dr. Lois Chandler, PhD Presents
Excellagen® Clinical Trial Data Demonstrating Rapid Healing of
Diabetic Neuropathic Foot Ulcers
MIRAMAR, FL -- April 18, 2019 -- InvestorsHub NewsWire --
Generex Biotechnology Corporation (www.generex.com) (OTCQB:GNBT)
(http://www.otcmarkets.com/stock/GNBT/quote) is pleased to announce
that the company’s subsidiary Olaregen Therapeutix participated as
a sponsor of the prestigious Diabetic Limb Salvage Conference in
Washington, DC as part of its continued commitment to Wound Care
Education. The Conference was attended by 600 influential experts
and healthcare providers involved in the research and management of
wounds, with specific emphasis on diabetic foot ulcers (DFUs).
Olaregen hosted an exhibit to present information on its now
commercial wound care product, Excellagen®, formulated fibrillar
collagen (2.6%) wound conforming matrix, indicated for the
management of several wound types, significant among them,
DFUs.
Lois Chandler, PhD, the inventor of
Excellagen®, presented Wound Conforming Matrix (WCM)
Promotes Rapid Healing of Diabetic Neuropathic Foot Ulcers: Subset
Analysis of Randomized Controlled Trial at the
Conference’s formal poster presentations. The findings of
the Subset Analysis revealed that a single
application of Excellagen induced rapid acceleration within the
first week with a 208% relative improvement in healing rate over
Standard of Care (SOC). By week two, 35% of Excellagen treated
patients achieved ≥ 75% wound area reduction vs. 8% in the
(SOC) arm reflecting a 338% relative improvement.
Over 23 million Americans have been diagnosed with diabetes
mellitus (DM), and an estimated 7 million are undiagnosed, together
representing more than 9% of the total U.S. population. Diabetic
foot ulcers (DFU) are a common complication of DM, affecting 19% to
34% of patients during their lifetime, and are associated with
significant morbidity, mortality and healthcare costs. Greater than
50% of DFUs become infected, and more than 80% of amputations in
patients with DM are reported to be preceded by a DFU. DFU is a
leading cause of DM-related hospitalizations and amputations, with
a well-established all comers 5-year mortality rate after a major
lower limb amputation of 50%, worse than many common types of
cancer. The financial burden of DFU on public and private payers
accounts for approximately one-third of the total cost of diabetic
care and is estimated to range from $9-13 billion.
“We were extremely pleased with the enthusiastic reception we
received at the Conference,” said Anthony Dolisi, Chief Executive
Officer of Olaregen and Chief Commercial Officer of Generex.
“Excellagen’s demonstrated effect on accelerated healing rates
means that the potential for infection and complications associated
with DFUs can be mitigated. Along with our value-based pricing, we
are highly confident Excellagen will capture its place in an
unsatisfied market.”
About Generex Biotechnology Corp.
Generex Biotechnology 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 immune-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.
About Olaregen Therapeutics
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.
Additionally, Excellagen can serve as an
Enabling Delivery Platform for pluripotent stem cells,
antimicrobial agents, small molecule drugs, DNA-Based Biologics,
conditioned cell media and peptides. Olaregen's initial focus will
be in advanced wound care including diabetic foot ulcers (DFU),
venous leg ulcers and pressure ulcers. Future products focusing on
innovative therapies 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.
About our Service-Disabled Veteran-Owned Small Business
(SDVOSB)
This a Service-Disabled Veteran-Owned Small Business (SDVOSB)
that specializes in the sale, marketing, and distribution of
innovative medical products through a nationwide network of veteran
owned distribution services.
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 Contact:
Generex Biotechnology Corporation
Joseph Moscato
646-599-6222
Todd Falls
1-800-391-6755 Extension 222
investor@generex.com
Generex Biotechnology (CE) (USOTC:GNBT)
Historical Stock Chart
From Mar 2024 to Apr 2024
Generex Biotechnology (CE) (USOTC:GNBT)
Historical Stock Chart
From Apr 2023 to Apr 2024