TMCnet News

NuGenerex Immuno-Oncology Closes $50 Million Financing Facility
[July 15, 2020]

NuGenerex Immuno-Oncology Closes $50 Million Financing Facility

  • NuGenerex Immuno-Oncology, a 91% subsidiary of Generex Biotechnology Corporation (GNBT:OTCQB) announces first financing in preparation for public listing
  • NuGenerex Immuno-Oncology is developing immunotherapeutic Ii-Key peptide vaccines for cancer and infectious diseases

MIRAMAR, Fla., July 15, 2020 (GLOBE NEWSWIRE) -- NuGenerex Immuno-Oncology (NuGenerex IO), today announced the closing of a $50 Million equity financing facility to support the company’s strategic and development plans. NuGenerex IO is now a public company, and once the S1 registration for this $50 Million is filed, and a subsequent S1 for an equity raise is filed in collaboration with its investment bank, the company plans to immediately apply for a listing on either the Nasdaq or NY Stock exchanges. The requisite 8k on this closing will be filed accordingly.

About NuGenerex Immuno-Oncology

NuGenerex Immuno-Oncology, a subsidiary of Generex Biotechnology, is a clinical stage oncology company developing immunotherapeutic peptide vaccines for cancer and infectious disease based on the CD4 T-Cell activation platform, Ii-Key. NuGenerex Immuno-Oncology (NGIO) has been spun out of Generex as a separate 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 ancer immunotherapeutic vaccine AE37 in combination with pembrolizumab (Merck’s Keytruda®) for the treatment of triple negative breast cancer. The company has also turned its Ii-Key technology on infectious disease, responding to the coronavirus pandemic with a SARS-CoV-2 vaccine development program.

About Generex Biotechnology Corp.

Generex Biotechnology 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.

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 Contact:

NuGenerex Immuno-Oncology
Generex Biotechnology Corporation

Joseph Moscato

Todd Falls
1-800-391-6755 Extension 222

Primary Logo

[ Back To's Homepage ]