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Generex Announces Extension of Global Medical Direct Acquisition Closing Date
Date:12/23/2010

WORCESTER, Mass., Dec. 23, 2010 /PRNewswire-FirstCall/ -- Generex Biotechnology Corporation (www.generex.com) (OTC Bulletin Board: GNBT) today announced an agreement to extend the closing date of its previously announced acquisition of a controlling interest in Global Medical Direct, LLC (www.globalmeddirect.com) to June 1, 2011.

The Company also announced its receipt on December 17, 2010 of the decision of the Nasdaq Listing and Hearing Review Council affirming the decision of the Nasdaq Hearings Panel to suspend the listing of the Company's securities on The Nasdaq Capital Market.

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.  The Company's buccal insulin spray product, Generex Oral-lyn™, which has been approved in India, Lebanon, Algeria, and Ecuador for the treatment of subjects with Type-1 and Type-2 diabetes, is in Phase III clinical trials at several sites around the world.  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.  For more information, visit the Generex website at www.generex.com or the Antigen Express website at

SOURCE Generex Biotechnology Corporation
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