Generex Biotechnology Corporation Subsidiary, Olaregen Therapeutix Announces its Malaysian Distribution Partner, Nexgen Medical, has gained approval for the use of Excellagen® Wound Conforming Matrix from The Malaysian Ministry of Health, its country’s equivalent to the U.S. FDA
Generex Biotechnology Corporation's subsidiary, Olaregen Therapeutix, has secured approval from the Malaysian Ministry of Health for its Excellagen wound care products. This follows a Distribution Agreement with Nexgen Medical, which commits to purchasing 1,000 units in the first year. The deal opens distribution channels in Malaysia and potentially other Southeast Asian countries, addressing a growing market driven by increasing diabetes rates and better healthcare access. This marks a significant step in Olaregen's international expansion efforts following the restart of its manufacturing operations.
- Secured approval from the Malaysian Ministry of Health for Excellagen wound care products.
- Nexgen Medical committed to purchasing 1,000 units in the first year, indicating strong initial demand.
- Opens distribution channels in Malaysia and potentially Southeast Asia, tapping into a growing market for wound care products.
- None.
MIRAMAR, Fla., July 26, 2021 (GLOBE NEWSWIRE) -- Generex Biotechnology Corporation (www.generex.com) (OTCQB:GNBT) subsidiary Olaregen Therapeutix announced in May that the company has executed a Distribution Agreement with Nexgen Medical Sdn Bhd, Inc. (“Nexgen”) to be Generex’s exclusive distributor to import, market and sell the Excellagen line of wound care products in Malaysia pending their Ministry of Health’s approval. We are pleased to announce that Nexgen did, in fact, receive The Malaysian Ministry of Health approval. Nexgen has committed to purchasing 1,000 units of Excellagen in year one, with an initial purchase of 500 units 0.8cc syringes of Excellagen. We plan to support our Partners roll out plan as we embark on our previously announced restart with our manufacturing which was completed, and we now await our fill finish & packaging to support our VA rollout as well as Nexgen.
Anthony J. Dolisi, President and Chief Executive Officer of Olaregen said, “This is an exciting day for Excellagen, as we now have opened door for international distribution channels to do business in Asia. This Distribution Agreement will also open the door to conduct business in Singapore, Thailand, Indonesia, Vietnam, Philippines, and other countries in Southeast Asia where the market for wound care products is expanding with rising income levels, increasing incidence of diabetes, and improved patient access.”
Cliff Keeling, Vice President and Chief Operating Officer of Olaregen said, “Nexgen Medical has well established connections throughout the orthopedic and podiatry communities in Malaysia, and we are very excited to work with them on our expansion into Asia. The Life Science industry in Malaysia is one of the new growth areas targeted for promotion and development by the government, so we look forward to great success.”
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.
About Olaregen Therapeutix
Olaregen Therapeutix, Inc. is a regenerative medicine company focused on the development, manufacturing and commercialization of products that fill unmet needs in the current wound care market. The company aims to provide advanced healing solutions that substantially improve medical outcomes while lowering the overall cost of care. Olaregen's first product introduction, Excellagen® (flowable dermal matrix) is a topically applied product for dermal wounds and other indications. Excellagen is an FDA 510K cleared device for a broad array of dermal wounds, including partial and full thickness wounds, pressure ulcers, venous ulcers, diabetic ulcers, chronic vascular ulcers, tunneled/undermined wounds, surgical wounds (donor sites/ grafts, post-Mohs surgery, post-laser surgery, podiatric, wound dehiscence), trauma wounds (abrasions, lacerations, second-degree burns, and skin tears) and draining wounds, enabling Olaregen to market Excellagen in multiple vertical markets. in bone and joint regeneration comprise the current pipeline. The company's mission is to become a significant force in regenerative medicine and advance the science of healing.
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:
Generex Biotechnology Corporation
Joseph Moscato
646-599-6222
Todd Falls
1-800-391-6755 Extension 222
investor@generex.com
