U.S. Markets closed

Generex Biotechnology Subsidiary NuGenerex Diagnostics Announces Sales for its Rapid Point-of-Care Malaria Diagnostic Test Kit

Fulfills order for 40,000 NGDx -Malaria PF/PV Cassette Test Kits

MIRAMAR, Fla., May 02, 2019 (GLOBE NEWSWIRE) -- Generex Biotechnology Corporation (www.generex.com) (GNBT) (http://www.otcmarkets.com/stock/GNBT/quote) is pleased to announce that their wholly-owned subsidiary NuGenerex Diagnostics LLC, (www.nugenerexdiangostics.com) has filled an international order for 40,000 units of its malarial diagnostic product, The NGDx -Malaria PF/PV Cassette Test Kit to Imres, BV, a Netherlands-based medical distribution company.

NuGenerex Diagnostics is fully qualified as a diagnostic test developer and manufacturer under FDA Good Manufacturing Procedures (GMP) and is certified by the International Standards Organization for the manufacture of medical devices under ISO 13485-2016 regulations.

The NGDx -Malaria PF/PV Cassette Test Kit is rapid point-of-care diagnostic assay for the detection of malaria proteins found in the blood of individuals infected with the malarial parasites Plasmodium falciparum (PF) and Plasmodium vivax (PV), the two most common and deadly malarial species which cause millions of cases of malaria yearly in affected countries.

The test is simple to perform with blood taken directly from a fingerstick, inexpensive for use in resource-poor countries, where most malaria cases are prevalent, and provides results in 15-30 minutes which, when coupled with the patients’ signs, symptoms and history allows clinical personnel to evaluate the patients’ condition and provide appropriate follow-up and treatment in real time.

Malaria is a serious mosquito-borne disease which affects resource-poor countries throughout the world, especially in sub-Saharan Africa, where it is a leading cause of illness and death. The World Health Organization World Malaria Report 2017 states, “The costs of malaria – to individuals, families, communities, nations – are enormous.”

Harold G. Haines Ph.D., President of NuGenerex Diagnostics stated, “This contract represents the first product sales for NuGenerex Diagnostics, and we hope to build on this foundation to capitalize on the World Health Organization authorization for the NGDx Test Kits for infectious diseases including HIV, Tuberculosis, Hepatitis B & C, and syphilis. We also look forward to launching the next generation, patent-pending Express II point-of-care assay for syphilis, which is re-emerging as a dangerous epidemic both here in the States and around the world. At NGDx we are happy to be part of the ongoing effort by numerous private, governmental and non-governmental international organizations to reduce the worldwide active burden of malaria and other transmissible infectious diseases by the use of our diagnostic tests. One of the goals of the World Health Organization is to eliminate malaria by 90% in affected countries by the year 2030. We are proud to be a supporter of, and a participant, in achieving that goal.”

About Generex Biotechnology Corp.
Generex Biotechnology is an integrated healthcare holding company with end-to-end solutions for patient centric care from rapid diagnosis through delivery of personalized therapies. Generex is building a new kind of healthcare company that extends beyond traditional models providing support to physicians in an MSO network, and ongoing relationships with patients to improve the patient experience and access to optimal care.

In addition to advancing a legacy portfolio of immuno-oncology assets, medical devices, and diagnostics, the Company is focused on an acquisition strategy of strategic businesses that complement existing assets and provide immediate sources of revenue and working capital. Recent acquisitions include a management services organization, a network of pharmacies, clinical laboratory, and medical device companies with new and approved products. 

Our newly formed, wholly-owned subsidiary, NuGenerex Distribution Solutions (NDS), integrates our MSO network with a pharmacy network, clinical diagnostic lab, durable medical equipment company (DME-IQ) and dedicated call center.

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 claims the protection of the safe harbor for forward-looking statements that is contained in the Private Securities Litigation Reform Act.

Generex Contact:

Generex Biotechnology Corporation

Joseph Moscato
646-599-6222

Todd Falls
1-800-391-6755 Extension 222

investor@generex.com