WORCESTER, Mass. and BEIRUT, Lebanon, May 14, 2009 (GLOBE NEWSWIRE) -- At a press conference earlier today in Beirut, with Lebanese Minister of Health H.E. Muhammad Jawad Khalifah, Generex Biotechnology Corporation (Nasdaq:GNBT) (www.generex.com), the leader in drug delivery for metabolic diseases through the inner lining of the mouth, together with Benta s.a.l. (www.bpi.com.lb), the Company's importation, marketing, distribution and sales sub-licensee in Lebanon, announced the launch of commercial retail sales of Generex Oral-lyn(tm) in Lebanon. The product has been approved for importation and commercial marketing and sale in Lebanon by the Ministry of Public Health, and will be marketed and sold for the treatment of patients with Type-1 and Type-2 diabetes in Lebanon.
Generex Oral-lyn(tm), Generex's proprietary oral insulin spray product, is the first non-injectable insulin approved in Lebanon. Generex Oral-lyn(tm) is delivered via the Company's proprietary RapidMist(tm) device into the mouth. Unlike inhaled insulin products, buccally absorbed Generex Oral-lyn(tm) does not reach the lungs.
The launch of Generex Oral-lyn(tm) took place at Le Royal Hotel, Dbayeh. In addition to more than 150 endocrinologists and other healthcare providers in attendance, notable participants included:
H.E. Dr. Mohamad Jawad Khalifah, Minister of Health, Lebanon
Mr. Bernard Tannoury, Chairman and CEO of Benta s.a.l.
Mr. Bill Abajian, Sr. Executive Advisor, Global Licensing and
Business Development, Generex Biotechnology Corporation
Professor Paolo Pozzilli, Head of the Department of Diabetes
and Endocrinology, University Campus Bio-Medico, Rome, Italy
Professor Sami Azar, M.D., FACP, The Department of Internal
Medicine (Endocrinology), Faculty of Medicine, American
University of Beirut -- Medical Center, Beirut, Lebanon
"It is with great enthusiasm that we launch Generex Oral-lyn(tm) in Lebanon alongside Benta s.a.l., known for their leading edge innovation," said Anna Gluskin, Generex's Chairman & Chief Executive Officer. "We anticipate that our truly innovative product will be well received and expand further into the Middle East over the coming year as we pursue our regulatory program."
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 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.
The Generex Biotechnology Corp. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=3831
About Benta s.a.l.
Benta is a state-of-the-art manufacturing facility dedicated to the development of new and enhanced formulations of pharmaceutical products and production of a wide range of medical devices that fulfill most physician's needs. Benta cooperates closely with its sister company, Benta Trading, for distribution and marketing of its products. Benta Trading, founded in 1968, is a well known distribution company entrusted by many multinational companies for its high degree of flexibility, creativity and expertise in this field. For more information, visit the Benta website at http://www.bpi.com.lb
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.