Tuesday August 22, 11:15 am Eastern Time
Press Release
SOURCE: Generex Biotechnology Corporation; AptarGroup, Inc.; Valois S.A.
Generex Biotechnology Corp. Announces Exclusive
Supply Agreement
TORONTO, Aug. 22 /CNW/ -- Generex Biotechnology Corporation (Nasdaq: GNBT - news) and Valois S.A., a Subsidiary
of the AptarGroup (NYSE: ATR - news), today announced they have entered into a commercial supply agreement for Valois'
DF10 metering valve. Under the terms of the agreement, Valois, a leading global supplier of precision dispensing products, will
supply its DF10 valve exclusively to Generex for use in the buccal delivery of insulin and a number of other pharmaceutical
agents. Other terms of the agreement were not disclosed.
The DF10 metering valve is a critical component of Generex's RapidMist(TM) device, a lightweight, hand-held aerosol
applicator that is extremely accurate, easy to use and relatively inexpensive. The device was developed to administer Generex's
proprietary oral insulin formulation as a spray to the buccal (oral) cavity, where it is absorbed primarily through the inner cheek
walls. Generex presently is using the RapidMist device in clinical trials of its oral insulin product.
As part of the RapidMist device, the DF10 valve functions as a seal for the pressurized contents of the device and in metering
the precise amount of formulation delivered with each spray. In performing this latter function, the valve utilizes a novel siphon
system developed by Valois that allows the retention of the metered dose in the chamber of the valve between actuations.
Anna Gluskin, CEO of Generex, stated: "The supply agreement with Valois represents a significant strategic step for Generex.
We are very pleased that Valois has demonstrated confidence in our program by granting us exclusivity on the DF10 valve for
insulin and other product areas we plan to focus on in the near future."
Valois S.A. designs, develops and manufactures dispensing systems for the fragrance, cosmetics and pharmaceutical industries.
Valois Pharmaceutical division has production sites located in France, Switzerland and the United States and is among the
world's top companies for the design and manufacture of complex, high value added dispensing systems (aerosol valves,
metered pumps, airless systems) for the pharmaceutical markets. Each site has Class 10,000 clean room technology as well as
a specialized pharmaceutical applications laboratory.
AptarGroup, Inc. is a leading international designer, manufacturer and marketer of pumps, dispensing closures and aerosol
valves for personal care, fragrance/cosmetics, pharmaceutical, household/industrial and food products. AptarGroup is
headquartered in Crystal Lake, Illinois, with manufacturing facilities in the United States, Europe, Asia and South America.
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 (absorption through the inner cheek walls) of large molecule drugs
that, historically, have been administered only by injection. The first application for this technology is an insulin formulation that
is administered as a fine spray into the oral cavity using the RapidMist(TM) device, a lightweight hand held aerosol applicator.
Clinical trials of Generex's oral insulin product presently are underway in the United States, Canada, England and Italy.
Notice: This release and oral statements made from time to time by Company representatives concerning the same subject
matter may contain so-called "forward-looking statements." These statements can be identified by introductory words such as
"expects," "plans," "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 regulatory submissions and
approvals, development programs, etc. 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 other of which
are not. No forward-looking statement is a guarantee of future results or events, and one should avoid placing undue reliance
on such statements.
For further information
Paul Gambin of Time Release Corporation, 800-391-6755, Fax - 416-364-8782, info@generex.com, for
Generex Biotechnology Corporation
Jeffrey Volk of Wolfe Axelrod Weinberger Assoc. LLC, 212-370-4500, Fax - 212-370-4505,
jeff@wolfeaxelrod.com, for Generex Biotechnology Corporation |
