Generex Subsidiary NuGenerex Immuno-Oncology (Formerly Antigen Express) Files Form 10 Registration Statement with the Securities and Exchange Commission
MIRAMAR, Fla., March 12, 2020 (GLOBE NEWSWIRE) -- Generex Biotechnology Corporation (www.generex.com) (OTCQB:GNBT) (http://www.otcmarkets.com/stock/GNBT/quote) today announced that the company’s subsidiary NuGenerex Immuno-Oncology (NGIO) has filed the initial public filing of a Form 10 Registration Statement with the U.S. Securities and Exchange Commission (the “SEC”). The registration of NGIO’s securities with the SEC provides investors detailed information, including an overview of business strategies and audited financial statements.
Once the Form 10 becomes effective 60 days from the filing date, NGIO will be a fully reporting company with the SEC, subject to quarterly, annual and other reporting requirements. NGIO intends to utilize an increased market presence and potential support of institutional investors to aid a growth and acquisition strategy. It is NGIO’s intent to list its common stock on a national securities exchange upon meeting certain financial and regulatory requirements.
Generex President and CEO Joe Moscato said, “We are happy to announce the filing of Form 10 Registration Statement for our subsidiary. We have issued a number of NGIO shares to our shareholders through two dividend payments. Once the SEC approves the filing, and the registration becomes effective, we plan to file a Registration Statement on Form S-1 with the SEC to sell shares and apply to list NuGenerex Immuno-Oncology as a separate, publicly traded Nasdaq company. With this listing, Generex and our shareholders should be able to realize the true value of our immune system activation technology that we are developing for cancer immunotherapy. In addition to expanding our oncology clinical development program of AE37 in combination with Merck’s Keytruda® for the treatment of triple negative breast cancer, we plan to initiate clinical trials of AE37 in bladder cancer and begin clinical trials in addtional cancer indications with our other Ii-Key peptide vaccines.”
Mr. Moscato continued, “Further, as the COVID-19 pandemic has become a true public health threat, the value of our Ii-Key technology for the treatment and prevention of infectious diseases is being recognized by government agencies around the world. In response to this global health crisis, our team at NGIO has been able to restart the pandemic virus rapid vaccine development program from a decade ago, and we are currently working with our partner EpiVax on epitope mapping and computational vaccinology, as well as with our Chinese partners at the China Technology Exchange to have a vaccine ready for human testing in the next few months. We are also initiating discussions with U.S. and Canadian health authorities to advance our Ii-Key peptide vaccine technology to the clinic here in North America. We will keep our shareholders updated as we progress in our coronavirus vaccine development program using Ii-Key peptides to activate the immune system for protection from COVID-19.”
About Generex Biotechnology Corp.
NuGenerex Immuno-Oncology (formerly Antigen Express), a subsidiary of Generex Biotechnology, is a clinical stage oncology company developing immunotherapeutic peptide vaccines based on the CD4 T-Cell activation platform, Ii-Key. NuGenerex Immuno-Oncology (NGIO) is being spun out of Generex as a separate, independent public company to advance the platform Ii-Key technology, particularly in combination with the immune checkpoint inhibitors. NGIO is currently engaged in a Phase II clinical trial of its lead cancer immunotherapeutic vaccine AE37 in combination with pembrolizumab (Merck’s Keytruda®) for the treatment of triple negative breast cancer.
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