Generex Biotechnology Awarded European and Mexican Patents
WORCESTER, Mass., Aug 20, 2007 -- Generex Biotechnology Corporation, the leader in drug delivery for metabolic diseases through the inner lining of the mouth, announced today that is has been awarded new patents in Europe and Mexico.
The European Patent Office granted the Company its fourth European patent titled, "Proteinic Drug Delivery System Using Membrane Mimetics." The patent has been validated in nine European countries including the U.K., France and Italy. The patent contains formulation and process claims for a mixed liposome pharmaceutical formulation.
The Mexican Institute of Intellectual Property granted the Company its ninth Mexican patent titled, "Mixed Micellar Delivery System and Method of Preparation." The patent contains formulation and process claims for a pharmaceutical composition suitable for delivery through mucosal membranes.
"We are pleased to expand our patent portfolio internationally especially in several key European countries," said Rose C. Perri, the Company's Chief Operating Officer, as the company proceeds towards the commencement of its Phase III trials in multiple jurisdictions.
Generex currently holds an aggregate of 113 patents worldwide (20 of which are United States Patents) and has an aggregate of 94 patent applications pending in various jurisdictions.
Generex is engaged in the research and development 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(tm) device. The Company's flagship product, oral insulin (Generex Oral-lyn(tm)), which is available for sale in Ecuador for the treatment of patients with Type-1 and Type-2 diabetes and before the end of 2007 the Company expects to begin Phase 3 trials of the product in the United States, Canada and Europe. For more information, visit the Generex website at http://www.generex.com.
Safe Harbor Statement: This release and oral statements made from time to time by Generex representatives concerning 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," "plans," "intends," "believes," "will," "estimates," "forecasts," "projects" 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 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 cannot be regarded as actual predictions of when Generex will obtain regulatory approval for any "phase" of clinical trials. Generex claims the protection of the safe harbor for forward-looking statements that is contained in the Private Securities Litigation Reform Act.