Generex Biotechnology Subsidiary Olaregen Therapeutix Announces the Introduction of Excellagen Aesthetics™
MIRAMAR, Fla., Jan. 17, 2020 (GLOBE NEWSWIRE) -- Generex Biotechnology Corporation (www.generex.com) (GNBT) (http://www.otcmarkets.com/stock/GNBT/quote) is pleased to announce that their subsidiary, Olaregen Therapeutix, Inc., is introducing an exciting new product, Excellagen Aesthetics™ for the cosmetic surgery and aesthetic dermatology market. FDA 510(k) cleared with an indication for the management of wounds, Excellagen Aesthetics™ is intended for use following facial rejuvenation procedures, including post-laser surgery, post-chemical peels, and post- skin ablation. Excellagen is a ready to use 3-dimensional wound conforming matrix that supports a favorable wound healing environment. It is designed to activate collagen, accelerate granulation, and promote new tissue growth by providing a structural scaffold for cellular migration and proliferation. Excellagen Aesthetics™ has been shown in vitro to trigger the localized release of endogenous growth factors including Platelet-Derived Growth Factor (PDGF), a key biological mediator of wound healing.
Olaregen is rolling out Excellagen Aesthetics™ with a dedicated contract sales force uniquely positioned in major metropolitan areas across the United States where the majority of aesthetic dermatology procedures are clustered. Americans spent an estimated $8 billion on surgical and non-surgical aesthetic dermatology procedures in 2018 when there were over 340,000 facial rejuvenation performed.
Scott Emmens, Senior Vice President of Sales and Business Development at Olaregen commented, “We have been working closely with the aesthetic dermatology community, and Excellagen Aesthetics™ is being tested with some leading dermatologists who are conducting case studies to evaluate the efficacy of our cellular tissue product in wound management as measured by patient reported down-time as well as patient satisfaction with post-treatment care. We are enthusiastic about the early response from patients and doctors who have tried the product after facial rejuvenation procedures including micro-needling and laser skin resurfacing, two procedures that result in post-treatment pain and significant healing times that limit daily activities. We look forward to engaging with the dermatology community to introduce Excellagen Aesthetics™ and show how our FDA-cleared product can be used to the benefit of their patients and their practice.”
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.
In addition to advancing a legacy portfolio of immune-oncology assets, medical devices, and diagnostics, the Company is focused on an acquisition strategy of strategic businesses that complement existing assets and provide immediate sources of revenue and working capital.
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 a 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.
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