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Generex Provides Corporate Update
Date:8/2/2011

otherapy demonstrated positive early research data.  The Company recently entered into a binding letter agreement to license its RapidMist™ buccal drug delivery technologies to Amarantus BioSciences, Inc. (OTCBB: AMBS) for use with its proprietary MANF proteins in exchange for a non-refundable license fee of $10 million.  In addition, the companies will jointly pursue the development of a MANF-based biomarker test to diagnose patients in the very early stage of development of diabetes likely to respond to Generex Oral-lyn™ treatment.  The binding letter of agreement with Amarantus also calls for the license fee to be paid in Amarantus common stock.  The Company's intention is to dividend a portion of Amarantus shares to Generex stockholders after the completion of the reverse stock split and an effective registration of Amarantus shares to be owned by Generex.  Generex will also enhance a collaboration with Antigen Express in developing early identification of markers of immune system activation associated with the immunologic destruction of the beta cells, which may lead to immune system therapy that could prevent the development of diabetes.
  • Expanding Leadership.  The Company is actively broadening its leadership with the appointment of Mark Fletcher as President & Chief Executive Officer, Dr. David Brusegard, Ph.D. as Chief Operating Officer, Stephen Fellow as Acting Chief Financial Officer, Dr. James H. Anderson as Senior Scientific Advisor and Director (formerly with Eli Lilly and Company as a Senior Medical Director for Diabetes and Cardio-metabolic Medicine), and U.S. Congressman Curt Weldon (a Co-Founder of the Congressional Diabetes Caucus) as a corporate advisor.  In addition, Dr. Anderson and Dr. Eric von Hofe, current President of Antigen Express, were both elected to the Company's board of directors.

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SOURCE Generex Biotechnology Corporation
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