GNBT - Generex Biotechnology Signs Stock Purchase Agreement to Acquire 51% of ALTuCELL, Inc.
November 25 2019 - 11:45AM
InvestorsHub NewsWire
GNBT - Generex Biotechnology Signs
Stock Purchase Agreement to Acquire 51% of ALTuCELL, Inc.
- Closing Scheduled for December
2019
- Patented
AltuCapsÒ
for Microencapsulation of stem
cells for autoimmune and inflammatory diseases: Partnering
opportunities available
- AltsulinÒ
implantable Sertoli Cells for
Type I Diabetes
- New technology: Patented, next
generation, permeable microcapsules for implantable protein
production
- Broad Range of Medical
Applications for Cell & Gene
Therapy
MIRAMAR, FL -- November 25, 2019
-- InvestorsHub NewsWire -- Generex Biotechnology Corporation
(OTCQB:
GNBT) is excited to announce that the Company has signed a
Stock Purchase Agreement to acquire a 51% controlling interest in
ALTuCELL, a privately held biotechnology company, in
a stock and cash transaction. With this agreement, Generex gains a broad patent
portfolio for cell encapsulation technology and cellular therapy.
The transaction is expected to close by the end of the
year.
The ALTuCELL patent portfolio
includes global patents for the AltuCapsÒ
cell encapsulation platform,
together with patents for the chemistry, manufacturing, and
ultra-purification of capsules. ALTuCELL has also been granted a
wide-ranging patent, Microencapsulation of
Myofibroblasts (Stem cells) Isolated from Wharton Jelly for
Prevention and Treatment of Autoimmune and Inflammatory
Diseases. Generex is pleased to offer this patent for
partnering and licensing to generate new cell therapy products, and
to enable stem cell companies to patent their cellular therapy
products with global market
protection.
Generex is
also very excited to announce ALTuCELL’s recently filed patent,
Alginate Microcapsules for Cell and Molecular Therapy that
Secrete Bioactive Immune Molecules, which will pave the way
for implanted cells that can secrete therapeutic antibodies to
treat innumerable diseases including cancer, arthritis, psoriasis,
and inflammatory bowel disease. “The implications for this new
patent are amazing”, said Gary Harlem, ALTuCELL’s President &
Chief Executive Officer. “I have been working for a decade with my
partners at the University of Perugia in Italy, who are global
leaders in cell encapsulation technology, to make cellular
implantation for the treatment of diabetes a reality. This new,
patent-pending technology opens up a whole new world for cell and
gene therapy, and our partnership with Generex will help us to
reach our goal to cure Type I diabetes and other autoimmune and
inflammatory diseases. Now that we have finalized the deal, we will
advance discussions with biopharmaceutical company partners that
are developing proprietary stem cell products to co-develop
cellular and regenerative medicine products. With our new patent
for next generation capsules that secrete bioactive molecules,
Generex is positioned to lead the way to a new era in molecular
medicine, where we can essentially implant a mini bioreactor
directly in the patient to treat genetic disease with enzyme
replacement therapy, and autoimmune disease with antibody therapy.
We are looking forward to accelerating the clinical development of
ALTuCell’s product line and working with Generex to build a deep
pipeline of cellular therapies.”
Joe
Moscato, President & Chief Executive Officer of Generex stated,
“We can’t be more excited about this partnership with ALTuCELL.
With this acquisition, we are not only reigniting our diabetes
franchise with Altsulin microencapsulated Sertoli Cells for the
potential cure of Type I diabetes, but we also get the
best-in-class, globally patented cellular microencapsulation
technology with broad utility in cellular and regenerative medicine
therapy.”
Mr.
Moscato continued, “Let me be more
specific when I state “best-in-class” as it pertains to ALTuCELL’s
IP portfolio. First, our proprietary and patented purification
processes yield ultra-pure, pharmaceutical grade capsules that are
completely inert, with no toxicity nor immune system rejection
problems in any preclinical models or clinical studies to date.
Further, and most importantly in comparison to competitive
encapsulation technologies, our capsules have been implanted in
people with diabetes for 5 years, demonstrating clear, long-term
safety, with no toxicity or tissue necrosis, and no rejection in
any of the patients treated. Also, as part of our due diligence
process, we pinpointed specific, comparable deals that validate the
huge value of the ALTuCELL acquisition, as evidenced by the
recently announced purchase of Semma Therapeutics by Vertex
Pharmaceuticals for close to a billion dollars. The industry at
large is advancing cellular therapy, immune modulation, and gene
therapy at a rapid pace, and with ALTuCell and our other
regenerative medicine platforms,
ExcellagenÒ
and Regentys
ECMHÔ,
Generex is positioned to be an integral part of this revolution in
cellular and molecular medicine. It is not often that you get a
chance to acquire an industry leader in a hot and emerging field
like stem cell therapy, and based on our research, we are way ahead
of any and all competition with the 5-year human data. As we move
forward with a third-party evaluation of ALTuCELL by a leading
pharmaceutical appraisal consulting firm, we are building a roadmap
for the future to realize the massive market opportunity for the
ALTuCELL IP portfolio, and we sincerely hope that the market will
recognize the huge value that we are building in the NuGenerex
Family of companies.”
For additional information
please visit the ALTuCELL web site
(https://altucell.com/home).
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.
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
800-391-6755 Extension
222
investor@generex.com
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