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GNBT
Company enters into Marketing Agreement with PharmaBrand to soon launch GlucoSpray
Wednesday, November 03, 2004 09:19 ET
TORONTO, Nov 3, 2004 /PRNewswire-FirstCall via COMTEX/ -- Generex Biotechnology Corporation (Nasdaq: GNBT), a leader in the area of buccal drug delivery, announced today that it is actively engaged in the research and development of GlucoSpray(TM), a proprietary oral glucose spray formulation, to be delivered by way of the Company's proprietary RapidMist(TM) device.

Regulation of blood glucose levels is necessary for good health. For patients with diabetes, regulating blood glucose levels to achieve targets is problematic, particularly for patients with Type 1 diabetes undergoing aggressive insulin therapy. The consequences of a drop in glucose levels (hypoglycemia) range from an annoying sensation to a life-threatening event. Patients ingest food to counteract the effects of the drop in glucose. However, patients often become incapacitated. If glucose drops low enough, the brain cannot function properly; there is slurred speech, confusion and irrational activity. If glucose drops very low, the result is a coma. Many patients conditioned to frequent hypoglycemia receive insufficient advance warning from their bodies.

Glucose can be replaced with food, juice, candy or glucose tablets or solutions if time is not an issue and the patient is cooperative and can swallow. In a comatose patient, Glucagon can be delivered by injection to stimulate glucose production and release in the liver.

Generex's preliminary research and development efforts have demonstrated that glucose in the Company's proprietary formulation (GlucoSpray(TM)), can be delivered into the body very rapidly through the buccal mucosa in the mouth using the Company's proprietary RapidMist(TM) device, with glucose appearing in the blood within five minutes. As a result, precious minutes of relief should be provided to the brain thereby preventing some comas and ameliorating symptoms earlier. GlucoSpray(TM) could be conceivably administered to a comatose patient.

Generex also announced today that it has entered into an agreement with PharmaBrand S.A., a leading distributor of pharmaceutical products in Central & Latin America, for the marketing and distribution of GlucoSpray(TM) in Ecuador following receipt of speedy governmental approvals. Following test marketing in Ecuador, the arrangement may be expanded to other Central & Latin American countries.

Ecuador-based PharmaBrand (http://www.pharmabrand.com.ec), a distributor of pharmaceutical products, was established in June, 2000 with the acquisition of an Ecuadorian pharmaceuticals plant. Its management team, led by Dr. Roberto Cid, has extensive experience in the pharmaceutical industry. Dr. Cid holds a Doctoral Degree in Pharmacy and Chemistry from the University of Chile and a Master of Business Administration degree from Columbia University in New York. He has also undertaken graduate studies in strategic management at Harvard Business School. Dr. Cid has more than 30 years' experience in the multinational pharmaceuticals industry, having held executive positions with Schering Plough, Pfizer and Merck. He served as General Manager & Regional Director of Latin America for Pfizer.

About Generex

Generex is engaged in the research and development of drug delivery systems and technology. To date, it has focused on developing a platform technology for the buccal delivery -- delivery to the oral cavity for absorption through the inner mouth mucosa -- of drugs that historically have been administered only by injection. Generex's buccal delivery technology has application to a large number of drugs.

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

SOURCE Generex Biotechnology Corporation

CONTACT: Shayne Gilliatt of Generex Biotechnology Corporation,
1-800-391-6755 or [phone]; or Ken Sgro of CEOcast, Inc.,
[phone], [e-mail], for Generex Biotechnology Corporation



URL: http://www.generex.com
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