Navigation Links
Generex Secures Commitments for $3.6M Capital Raise

WORCESTER, Mass. and TORONTO, Jan. 25, 2012 /PRNewswire/ -- Generex Biotechnology Corporation (OTCBB: GNBT) announced today that it has secured two commitments for an aggregate capital raise of CA$3,600,000.  This funding is structured as term loans of one year from private lenders secured by the Company's real estate.  Interest on the loans is payable monthly at the rate of 10% per annum.

"This capital infusion will permit the Company to advance its redevelopment plans, and to do so in a manner that is not dilutive to our stockholders," commented Mark Fletcher, Generex's President & Chief Executive Officer.

The first loan, for an aggregate of CA$2,500,000, closed on January 19, 2012.  A portion of the Company's real estate is subject to a prior ranking mortgage in the approximate amount of CA$1,100,000.  A portion of the first loan equal to that amount has been placed in escrow pending discharge of the prior ranking mortgage.

The second loan, for an aggregate of CA$1,100,000, is designed to discharge the prior ranking mortgage.  The second loan is scheduled to close on or before January 30, 2012, whereupon the escrowed portion of the first loan will be released to the Company.

About Generex Biotechnology Corporation

Generex is engaged in the research, development, and commercialization 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™ device.  Antigen Express, Inc. is a wholly owned subsidiary of Generex.  The core platform technologies of Antigen Express comprise immunotherapeutic vaccines for the treatment of malignant, infectious, allergic, and autoimmune diseases.  Antigen Express has pioneered the use of specific CD4+ T-helper stimulation in immunotherapy.  One of its platform technologies relies on inhibition of expression of the Ii protein.  Antigen Express scientists, and others, have shown clearly that suppression of expression of the Ii protein in cancer cells allows for potent stimulation of T-helper cells and prevents the further growth of cancer cells.  For more information, visit the Generex website at or the Antigen Express website at

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 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 or ultimate regulatory approval cannot be regarded as actual predictions of when Generex will obtain regulatory approval for any "phase" of clinical trials or when it will obtain ultimate regulatory approval by a particular regulatory agency. 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
Copyright©2010 PR Newswire.
All rights reserved

Related biology technology :

1. Generex Subsidiary Antigen Express Provides Update on AE37 Cancer Vaccines Clinical & Regulatory Strategy
2. Breast Cancer Vaccine Being Developed by Generex Subsidiary Antigen Express to be Featured on Bloomberg Television Today
3. Leading Investigator to Present Clinical Data on Generex Oral-lyn™ at International Diabetes Federation Meetings in Dubai
4. Generex Provides Update on Generex Oral-lyn™ Clinical & Regulatory Program
5. Generex Makes Podium Presentation of Clinical Data on Generex Oral-lyn™ at European Association for the Study of Diabetes Annual Meeting
6. Generex Provides Update on Spinout of Antigen Express
7. Generex Augments Cash Position With Sales of Non-Essential Assets
8. Amarantus BioSciences and Generex Biotechnology Collaborate on Cell Therapy for Late Stage Diabetes
9. Generex Announces Publication of Studies with the Mayo Clinic Confirming and Extending the Antigen Express Ii-Key Platform Technology
10. Generex Announces U.S. Congressman Curt Weldon, Co-Founder of the Congressional Diabetes Caucus, to Champion Generex Initiatives in Asia and North America
11. Generex Provides Clarification of Facts
Post Your Comments:
(Date:11/24/2015)... 2015  Asia-Pacific (APAC) holds the third-largest share ... The trend of outsourcing to low-cost locations is ... volume share for the region in the short ... in the CRO industry will improve. ... ), finds that the market earned revenues ...
(Date:11/24/2015)... VANCOUVER , Nov. 24, 2015 /CNW/ - iCo ... ICOTF), today reported financial results for the quarter ... are expressed in Canadian dollars and presented under ... the United States ," said Andrew ... "These advancements regarding iCo-008 are not only value ...
(Date:11/24/2015)... Global, Inc., a worldwide provider of clinical research services headquartered in ... company has set a new quarterly earnings record in Q3 of ... for Q3 of 2014 to Q3 of 2015.   ... with the establishment of an Asia-Pacific office ... Kingdom and Mexico , with the ...
(Date:11/24/2015)... , November 24, 2015 SHPG ) ... participate in the Piper Jaffray 27 th Annual Healthcare Conference ... December 1, 2015, at 8:30 a.m. EST (1:30 p.m. GMT). ... Chief Financial Officer, will participate in the Piper Jaffray 27 th ... , NY on Tuesday, December 1, 2015, at 8:30 a.m. EST ...
Breaking Biology Technology:
(Date:10/27/2015)... 2015 In the present market scenario, security ... various industry verticals such as banking, healthcare, defense, electronic ... demand for secure & simplified access control and growing ... hacking of bank accounts, misuse of users, , and ... PC,s, laptops, and smartphones are expected to provide potential ...
(Date:10/26/2015)... ALTO, Calif. and LAS VEGAS ... Nok Nok Labs , an innovator in modern ... Alliance , today announced the launch of its latest ... first unified platform enabling organizations to use standards-based authentication ... The Nok Nok S3 Authentication Suite is ideal for ...
(Date:10/22/2015)... Inc. (NASDAQ: AWRE ), a leading supplier of biometrics software ... September 30, 2015.  --> --> ... a decrease of 33% compared to $6.0 million in the same ... was $2.2 million, or $0.10 per diluted share, which compared to ... a year ago.  --> --> ...
Breaking Biology News(10 mins):