Generex Bio to acquire majority interest in ALTuCELL; shares up 11%
Sep. 9, 2019 10:40 AM ET|About: Generex Biotechnology ... (GNBT)|By: Douglas W. House, SA News Editor
Generex Biotechnology (OTCQB:GNBT +10.6%) inks a binding letter of intent to acquire 51% of privately held ALTuCELL for an undisclosed sum of cash and stock.
The New York-based biotech is developing cell, molecular and regenerative therapies for diabetes and other autoimmune and neurodegenerative disorders based on its patented microencapsulation technology that, it says, enables a transplantable cell-based therapy that avoids detection and rejection by the immune system.
Lead candidate appears to be Altsulin for the potential treatment of a rare type of dwarfism called Laron syndrome, caused by insensitivity to growth hormone.
