World News: 13:30 GMT Thursday 6th December 2018. [Generex Biotechnology Corporation via Globe Newswire via SPi World News]
PHOENIX, Dec. 06, 2018 (GLOBE NEWSWIRE) -- a biopharmaceutical company focused on developing or acquiring technologies that help pharmaceutical companies discover and develop medicines, on their Stock Day Podcast. CEO and President, Joseph Moscato, talked with host Everett Jolly about recent acquisitions.
Jolly started the interview by asking Moscato about two M and A’s the company is working on right now, Regentys Corporation and Olaregen Therapeutix Inc.
“We are moving to close Olaregen as well as Regentys,” explains Moscato. “We are looking to close both within the next 10 days. The docs are being done now by our legal teams and we are real excited about both of those opportunities.”
Olaregen Therapeutix Inc. has the FDA Approved Excellagen, a proprietary, patented wound care product focused on the treatment of complicated wounds including Diabetic ulcers and 16 other FDA approved indications.
“Our first product will be ready to hit the market by February and it’s a game changing product. It’s pretty fantastic.” He added, “Olaregen has now started sales and our first big batch of product will be delivered in the coming weeks so we can start filling those orders.”
Regentys is a regenerative medicine company focused on developing treatments for patients with gastrointestinal (GI) disorders. The company’s first product, Regentys Extra-Cellular Matrix Hydrogel, is a first-in-class, nonpharmacologic, non-surgical treatment option for patients suffering from Ulcerative Colitis.
“Regentys has its approval and pathway for 510K de novo, and our hope is to get into the clinics very, very quickly to get that approval,” said Moscato.
Jolly then mentioned that the company recently spoke with investors about another company they are looking to acquire, he asked for an update.
“The company over the years has done hundreds of millions of dollars in revenues. That fluctuates year by year based on formulary, based on reimbursement protocols nationwide. It’s a great business, we’ve been auditing it since January. We acquired two of their pharmacies back last January and those we could acquire because they didn’t need to be audited.” He also said, “The audits are almost complete, the numbers don’t lie, once we get those final numbers, we will move to close that acquisition.”
Jolly then asked about the acquisition of Veneto Holdings, L.L.C and noted that the company was in 3 states, he wanted to know why they chose Veneto.
“It’s a company that has another 24 states that its model is perfect in. We just launched 4 additional states for a total of 7. We will be launching 3 or 4 within the next month and altogether there will be 27 states this model will be highly effective in,” explained Moscato. “The growth trajectory, the future is what we paid for this business.”
In closing Moscato said that Generex is executing on all levels and has many other acquisitions they are looking at that will add significant value to the company.
To hear the entire interview with the Generex CEO, listen to the Stock Day podcast here:
Generex Biotechnology Corp. (OTCQB: GNBT) is a biopharmaceutical company focused on developing or acquiring technologies that help pharmaceutical companies discover and develop medicines. Our company creates value for stockholders by providing a diversified portfolio of biotech and pharmaceutical product revenue streams that are supported by an efficient and low corporate cost structure.
The company goal is to offer investors an opportunity to participate in the promise of the biotech industry in a profitable, diversified and lower-risk business than a typical biotech company. Our business model is based on doing what we do best: drug discovery, early-stage drug development, product reformulation and partnering. We partner with other pharmaceutical companies to leverage what they do best (late-stage development, regulatory management and commercialization) to ultimately generate our revenue.
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.
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Globe Newswire: 13:30 GMT Thursday 6th December 2018
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