WORCESTER, Mass., Aug. 4, 2009 (GLOBE NEWSWIRE) -- Generex Biotechnology Corporation (Nasdaq:GNBT) (www.generex.com), the leader in drug delivery for metabolic diseases through the inner lining of the mouth, announced today that Dr. Joseph Rubinfeld, one of the original founders of Amgen, Inc., has agreed to act as the Company's Chief Scientific Advisor. Dr. Rubinfeld will assist the Company in developing and implementing product commercialization roadmaps for its proprietary drug delivery platform and its synthetic vaccine platform technology programs.
In addition to his efforts in founding Amgen, Dr. Rubinfeld has a fifty year history in pharmaceutical and consumer product development. His accomplishments include the development of the multi-billion dollar antibiotic Amoxicillin as well as the invention and development of the first synthetic biodegradable detergent. In 1984 Dr. Rubinfeld won the prestigious Common Wealth Award for Science and Invention. This award was a testament to his proclivity for achieving major inventions, represented by the numerous patents obtained during his distinguished career.
Dr. Rubinfeld began his career as a research scientist with several pharmaceutical and consumer product companies including Schering Plough, Colgate Palmolive and Upjohn. He served for twelve years at Bristol Myers, where in addition to developing Amoxicillin and Cefadroxil, he was instrumental in licensing their original anti-cancer line of products, including Mitomycin, Etoposide, and Bleomycin. After co-founding Amgen in 1980 and serving as its Chief of Operations, Dr. Rubinfeld also co-founded the IBA (Industrial Biotechnology Association) in 1981, which was the precursor to today's BIO (Biotechnology Industry Organization). He has also served as an advisor or board member to a number of biotech companies including AVI BioPharma, Quark Pharmaceuticals, and Cytrx Corporation. In 1991 he founded Supergen, a drug development company based in Dublin, California, where he served as Chairman, CEO and President until 2003 and as a member of the board of directors until 2005. During that time he oversaw the company's initial public offering and its rise to a multi-billion dollar market capitalization, fueled by the commercialization of four anti-cancer drugs, including Pentostatin and Decitabine, and the issuance of over 20 drug patents in his name.
Generex management believes his wealth of experience in early stage biotechnology development and his exceptional track record in large pharmaceutical companies will be instrumental for Generex as it transitions to commercialization and rapid growth.
Commenting on his decision to join Generex, Dr Rubinfeld stated, "Generex is at a very pivotal position in its history, as the Company transitions from a pure research and development organization to the commercialization of its drug delivery platform and significant sales growth. After a substantial review of the Company's intellectual property, I am convinced that what is unique to Generex is that its delivery method can be applied to a host of drugs already on the market. Its Generex Oral-lyn(tm) diabetes product just scratches the surface of the potential benefits for patients, by providing a simple pain-free alternative to injectable drugs or other difficult drug delivery systems. Partnership opportunities for improved delivery of such drugs could significantly benefit patients and also extend the longevity of intellectual property protection, which is critical for pharmaceutical company revenues." Dr. Rubinfeld went on to state, "I am equally intrigued with the synthetic vaccine technologies in development at the Antigen Express subsidiary. The cancer vaccines are showing promising results in initial human testing. Also, with the global concerns of the current flu pandemic, I believe there will also be partnering opportunities. The technology, which can reduce the time to get new vaccines available to the public, is a very attractive proposition. I am excited to assist in all of these areas. I feel rejuvenated to apply my knowledge to a company with such a vast potential."
Anna Gluskin, the Company's President & Chief Executive Officer, stated, "We are very pleased to add Dr. Rubinfeld to the Generex team. His belief in our technologies and wealth of experience makes us more confident than ever that Generex will achieve its goals of becoming a profitable, multifaceted drug company of the future."
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(tm) device. The Company's flagship product, oral insulin (Generex Oral-lyn(tm)), which is available for sale in India, Lebanon, Algeria, and Ecuador for the treatment of subjects with Type-1 and Type-2 diabetes, is in Phase III clinical trials at several sites around the world. For more information, visit the Generex website at http://www.generex.com.
Safe Harbor Statement
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," "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 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 cannot be regarded as actual predictions of when Generex will obtain regulatory approval for any "phase" of clinical trials. Generex claims the protection of the safe harbor for forward-looking statements that is contained in the Private Securities Litigation Reform Act.