MIRAMAR, Fla.--(BUSINESS WIRE)--Generex Biotechnology Corporation (www.generex.com) (OTCQB:GNBT) (http://www.otcmarkets.com/stock/GNBT/quote) today announced an agreement with Puration, Inc. (USOTC: PURA) to develop and produce NuGenerex CBD HydroHealth High Alkaline Water. The CBD used in the NuGenerex CBD HydroHealth product line will be exclusively derived from industrial hemp using a patented extraction process that yields ultra-purified and characterized CBD formulations. Generex plans to build on Puration’s track record in developing and marketing a successful line of CBD infused drinks in the sports nutrition market. Under the terms of the agreement, Puration will refine its patented extraction process to develop proprietary CBD formulations for NuGenerex CBD HydroHealth Water, which will be sold as therapeutic supplements for health maintenance in conditions in which CBD therapy has shown promise including, arthritis, epilepsy, chronic pain, generalized anxiety, diabetes, and cancer. The FDA has already approved a formulation of CBD called Epidiolex® for childhood epilepsy. Generex CBD HydroHealth Water is the first of a planned product line of NuGenerex CBD therapies, from alkaline water formulations to salves and creams for pain management that will be marketed through our wholly-owned subsidiary NuGenerex Distribution Solutions. The agreement with Puration is an initial step in the development of a larger and more comprehensive strategy where Generex is exploring the possible acquisition of US Cannabis Health, a joint venture company that includes Puration’s participation with other innovators in the pursuit of developing new cannabinoid therapies.
“Subject to testing and corresponding regulatory approvals, we’re targeting a million-bottle launch of Generex CBD HydroHealth Water in 2019,” said Joseph Moscato, Generex President & Chief Executive Officer. “Given the network of pharmacies Generex owns itself, we are confident we can achieve if not exceed our million-bottle launch target. Puration’s experience and the caliber of Puration’s underlying extraction technology combined with the recently updated production facilities of Puration’s co-packer, are instrumental in Generex’s plan to rapidly launch NuGenerex CBD HydroHealth Water.”
“We are especially excited about Puration’s patented extraction technology that enables us to explicitly define and characterize the CBD and cannabinoid content of hemp extracts to develop proprietary, patented formulations for NuGenerex,” said Jason Terrell, MD, Chief Medical and Scientific Officer of Generex. “Through NuGenerex Distribution Solutions, we have the consumer connections, technology, and HIPAA compliant systems that will enable us to compile real world evidence on the safety and effectiveness of our NuGenerex CBD products for health maintenance in a variety of chronic conditions.”
“In anticipation of the agreement announced today with Generex, we have already been working on new CBD extracts to support Generex’s therapeutic objectives,” said Brian Shibley, CEO of Puration, Inc. “With our US Cannabis Health partners, we are confident in the potential of the new extracts to meet and exceed Generex’s expectations. We are honored to be engaged by a company the caliber of Generex on this exciting project.”
About Generex Biotechnology Corporation
Generex is a strategic, diversified healthcare holdings company with offerings in a variety of services, diagnostics, Health devices, and pharmaceutical development.
The Company’s direct-to-patient services support its strategy of all-inclusive access to doctors, diagnostics, therapeutics, and additional health-related services to greatly improve the patient experience in receiving care.
On the provider side, Generex’s management services remove administrative burdens in multiple provider settings, including private practice and hospital, allowing doctors to devote more time to patient care.
Revenue from the Company’s subsidiaries will support clinical advancement of its wholly owned therapeutic products with a focus in immunotherapeutics based on stimulating critical members of the immune response, known as T helper cells, and its proprietary buccal administration of insulin.
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.