SOURCE: Generex Biotechnology

December 06, 2006 11:09 ET

Generex Biotechnology Receives 2006 North American Frost & Sullivan Award for Technology Innovation

Award Recognizes Generex Oral-lyn™

TORONTO -- (MARKET WIRE) -- December 6, 2006 -- Generex Biotechnology Corporation (NASDAQ: GNBT), the leader in drug delivery for metabolic diseases through the inner lining of the mouth, announced today that it has been awarded the 2006 North American Frost & Sullivan Award for Technology Innovation for its proprietary oral insulin spray product, Generex Oral-lyn.

Frost & Sullivan's Technology Innovation Award is bestowed upon a company (or individual) that has carried out new research, which has resulted in innovation(s) that have or are expected to bring significant contributions to the industry in terms of adoption, change, and competitive posture. This award recognizes the quality and depth of a company's research and development program as well as the vision and risk-taking that enabled it to undertake such an endeavor.

In bestowing the award on Generex Oral-lyn, Frost & Sullivan stated that the product "is strongly positioned to be the most acceptable form of alternative, needle-free insulin delivery to patients and doctors alike as there is a huge global demand for prandial glucose control, which is emerging as a key factor in reducing cardiovascular risk. By totally eliminating pain and increasing patient convenience and treatment compliance, Generex Oral-lyn is expected to improve the quality of life of diabetic patients with a relative decrease in diabetic complications and a significant reduction in the enormous costs associated with insulin therapies."

Frost & Sullivan further stated that "by applying its innovative buccal drug delivery technology Generex is highly focused toward the commercialization of a novel and painless oral insulin therapy, which is sure to revolutionize the insulin market. The company, with its committed research and development of the highly unique insulin product that is safe, simple to deliver, fast in action and that offers high flexibility to the patient and the physician, has already got market attention, which takes the company on a further commercial stand."

Frost & Sullivan, a global growth consulting company, has been partnering with clients to support the development of innovative strategies for more than 40 years. The company's industry expertise integrates growth consulting, growth partnership services, and corporate management training to identify and develop opportunities. Frost & Sullivan serves an extensive clientele that includes Global 1000 companies, emerging companies, and the investment community by providing comprehensive industry coverage that reflects a unique global perspective and combines ongoing analysis of markets, technologies, econometrics, and demographics. For more information, visit www.frost.com.

About Generex

Generex is engaged in the research and development 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™ device. The Company's flagship product, oral insulin (Generex Oral-lyn™), which is available for sale in Ecuador for the treatment of patients with Type-1 and Type-2 diabetes, is in various stages of clinical trials around the world. For more information, visit the Generex website at www.generex.com.

Safe Harbor Statement: This release and oral statements made from time to time by Generex representatives concerning 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 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.

Contact Information

  • Contacts:

    Shayne Gilliatt
    Generex Biotechnology Corporation
    Phone: (800) 391-6755
    or (416) 364-2551

    Andrew Hellman
    CEOcast, Inc.
    Phone: (212) 732-4300

    Dolores Naney
    Rubenstein Public Relations
    Phone: (212) 843-8018