Navigation Links
Generex Augments Cash Position With Sales of Non-Essential Assets

WORCESTER, Mass. and TORONTO, Sept. 6, 2011 /PRNewswire/ -- Generex Biotechnology Corporation ( (OTCBB: GNBT) announced today that, as part of the Company's reorganization plan and following a comprehensive internal review of Company operations and a concomitant needs assessment, the Company has completed the sales of two non-essential commercial real estate properties for aggregate net cash proceeds of just over $1,000,000.  The tenanted properties were not occupied by the Company nor otherwise utilized in Company operations.

"The new Generex management team has been working to optimize and focus the Company's operations and the disposition of these assets is part of those efforts," said Mark Fletcher, the Company's President & Chief Executive Officer.  "The fair market value monetization of this real estate has augmented the Generex cash position and will permit management to concentrate on our core drug development business."

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.  Antigen Express, Inc. is a wholly owned subsidiary of Generex.  The core platform technologies of Antigen Express comprise immunotherapeutic vaccines for the treatment of malignant, infectious, allergic, and autoimmune diseases.  Antigen Express has pioneered the use of specific CD4+ T helper stimulation in immunotherapy.  One of its platform technologies relies on inhibition of expression of the Ii protein.  Antigen Express scientists, and others, have shown clearly that suppression of expression of the Ii protein in cancer cells allows for potent stimulation of T helper cells and prevents the further growth of cancer cells.  For more information, visit the Generex website at or the Antigen Express website at

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 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 or ultimate regulatory approval cannot be regarded as actual predictions of when Generex will obtain regulatory approval for any "phase" of clinical trials or when it will obtain ultimate regulatory approval by a particular regulatory agency.  Generex claims the protection of the safe harbor for forward-looking statements that is contained in the Private Securities Litigation Reform Act.

SOURCE Generex Biotechnology Corporation
Copyright©2010 PR Newswire.
All rights reserved

Related biology technology :

1. Crystal Research Associates, LLC Issues Executive Informational Overview(R) (EIO(R)) on Generex Biotechnology Corporation
2. Generex Announces That Adjournment will be Sole Matter Considered at Special Meeting of Stockholders on September 17, 2010
3. Generex Biotechnology Appoints Mark Fletcher as Interim President and CEO, and John P. Barratt as Chairman of the Board
4. Generex Plans Rights Offering to Stockholders Following Reverse Stock Split
5. Generex Scientific Advisor Weighs in on Reverse Stock Split Proposal
6. Generex Provides Additional Reverse Stock Split Information for the Consideration of Stockholders
7. Generex Common Stock to be Quoted on the OTCQB Under the Symbol GNBT Beginning Thursday, October 21, 2010
8. Generex Provides Additional Details for October 21st Live Video Webcast
9. Generex Announces $3.0 Million Capital Investment
10. Generex Announces Publication of Comparative Peptide Vaccine Studies in Peer Review Journal Demonstrating Superiority of AE37 and Presentation at the American Association for Cancer Research
11. Generex Oral-lyn™ Data to be Presented at Two International Scientific Symposia
Post Your Comments:
(Date:11/27/2015)... 2015 /PRNewswire/--  Mallinckrodt plc (NYSE: MNK ), ... has closed the sale of its global contrast media ... Euronext) in a transaction valued at approximately $270 million. ... a total of approximately 1,000 employees spread across the ... Louis area. This entire workforce and the ...
(Date:11/26/2015)... England , November 26, 2015 ... an innovative medical device company specializing in imaging technologies, announced ... the European Commission as part of the Horizon 2020 European ... to carry out a large-scale clinical trial in breast cancer. ...      (Logo: , --> ...
(Date:11/25/2015)... -- Studies reveal the differences in species ... the way for more effective treatment for one of the ... --> --> Gum disease ... cats, yet relatively little was understood about the bacteria associated ... conducted by researchers from the WALTHAM Centre for Pet Nutrition ...
(Date:11/25/2015)... , ... November 25, 2015 , ... ... the Organization of Black Aerospace Professionals (OPBAP) has been formalized with the signing ... AMA team leaders met with OPBAP leaders Capt. Karl Minter and Capt. Albert ...
Breaking Biology Technology:
(Date:10/29/2015)... 29, 2015  Connected health pioneer, Joseph C. ... of technology-enabled health and wellness, and the business opportunities ... The Internet of Healthy Things . Long ... even existed, Dr. Kvedar, vice president, Connected Health, Partners ... delivery, moving care from the hospital or doctor,s office ...
(Date:10/27/2015)... 27, 2015 In the present market scenario, ... for various industry verticals such as banking, healthcare, defense, ... growing demand for secure & simplified access control and ... as hacking of bank accounts, misuse of users, , ... as PC,s, laptops, and smartphones are expected to provide ...
(Date:10/26/2015)... , October 26, 2015 /PRNewswire/ ... --> adds Biometrics ... to 2021 as well as Emerging ... research reports to its collection of ... . --> ...
Breaking Biology News(10 mins):