Generex Biotechnology Subsidiary Olaregen Therapeutix Launches Excellagen Wound Conforming Matrix 3.0 cc Pre-Filled Syringe
October 01 2019 - 11:37AM
InvestorsHub NewsWire
MIRAMAR, FL -- October 01, 2019 -- InvestorsHub
NewsWire -- Generex Biotechnology Corporation (www.generex.com) (GNBT) (http://www.otcmarkets.com/stock/GNBT/quote), is
pleased to announce that their subsidiary, Olaregen Therapeutix,
Inc. today officially launched the Excellagen 3.0 cc pre-filled
syringe, which is specifically designed for use in the surgical
suite. The addition of the 3cc size to the Excellagen product line
will allow vascular surgeons to treat larger, hard to heal wounds
like venous leg ulcers or venous stasis ulcers (VLUs or VSUs),
which affect 1% of the adult population and 3.6% of people older
than 65 years. (Ulcers.2013;2013:413604).
In the United States, VSUs have been estimated to contribute to
significant direct and indirect healthcare and personal costs
including loss of productivity, which accounts for more than 2
million days of absence from work and decreased quality of life.
VSUs reportedly incur treatment costs of approximately $3 billion
per year (Ulcers. 2013;2013:413604). Failure to treat VSUs
may lead to severe complications including infection and/or
amputation and increased risk of morbidity and mortality
(Surgical Science. 2013;4(2):144-150.). Excellagen is an
FDA- 510(k) cleared Cellular Tissue Product with an indication for
the management of wounds including Diabetic Foot Ulcers, VSUs, and
fifteen other wound management indications. Excellagen 3.0 cc
is a ready to use 3-dimensional wound conforming matrix that
supports a favorable wound healing environment for hard to heal
wounds. It is designed to accelerate granulation and tissue growth
by providing a structural scaffold for cellular migration and
proliferation, activating platelets, and triggering the localized
release of endogenous growth factors including Platelet-Derived
Growth Factor (PDGF), a key biological mediator of wound
healing.
John Sentman, Vice President Business Strategy at Olaregen
Therapeutix stated, “The Excellagen 3.0 cc syringe applicator
provides surgeons with a cellular tissue product that is easy
to use and apply for large, hard to heal wounds, without the
cutting and suturing required for graft-based products.
Additionally, with our variable size options of 0.5, 0.8, and now
3.0 cc’s, surgeons can choose the size that is appropriate to the
patient’s individual wound, reducing waste and cost. We are
excited about the expanded market opportunities that the 3.0 cc
Excellagen offers. In addition to our focus on the vascular surgery
market, we see the 3.0 cc Excellagen providing additional benefits
for the management of 2nd degree burns, pressure ulcers, and post
Moh's surgical wounds.”
About Generex
Biotechnology Corporation
Generex Biotechnology Corporation 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.
Revenue from the Company’s subsidiaries will support clinical
advancement of its wholly owned therapeutic products with a focus
in immunotherapeutics based on stimulating critical members of the
immune response, known as T helper cells, and its proprietary
buccal administration of insulin.
About Olaregen Therapeutix, Inc.
Olaregen Therapeutix, Inc. is a regenerative medicine company
focused on the development, manufacturing and commercialization of
products that fill unmet needs in the current wound care market.
The company aims to provide advanced healing solutions that
substantially improve medical outcomes while lowering the overall
cost of care. Olaregen's first product introduction, Excellagen
(flowable dermal matrix) is a topically applied product for dermal
wounds and other indications. Excellagen is a FDA 510K cleared
device for a broad array of dermal wounds, including partial and
full thickness wounds, pressure ulcers, venous ulcers, diabetic
ulcers, chronic vascular ulcers, tunneled/undermined wounds,
surgical wounds (donor sites/ grafts, post-Mohs surgery, post-laser
surgery, podiatric, wound dehiscence), trauma wounds (abrasions,
lacerations, second-degree burns and skin tears) and draining
wounds, enabling Olaregen to market Excellagen in multiple vertical
markets. in bone and joint regeneration comprise the current
pipeline. The company's mission is to become a significant force in
regenerative medicine and advance the science of healing.
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 Contacts:
Joseph Moscato
646-599-6222
Todd Falls
1-800-391-6755 Extension 222
investor@generex.com
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