WORCESTER, Mass., Jan. 11, 2010 (GLOBE NEWSWIRE) -- Generex Biotechnology Corporation (Nasdaq:GNBT) (www.generex.com), the leader in drug delivery for metabolic diseases through the inner lining of the mouth, today announced that it has reached an agreement with a major nationwide pharmacy chain to market the Company's proprietary Crave-NX(TM) 7-Day Diet Aid Spray (www.Crave-NX.com) throughout the pharmacy's nationwide network of over 7,000 stores beginning in January 2010.
Crave-NX(TM) 7-Day Diet Aid Spray is a great tasting orange-flavored formulation sprayed into the mouth, scientifically formulated to quickly curb cravings throughout the day, saving valuable calories. According to Marketdata Enterprises, Inc. (www.marketdataenterprises.com), a leading market research publisher of service industry studies, the total U.S. weight loss market generated sales of $59 billion in 2007. It is estimated that 72 million people are dieters with approximately 70% of those dieters attempting lose weight without professional help.
The Crave-NX(TM) 7-Day Diet Aid Spray to be carried on the shelves of this leading nationwide pharmacy chain has been clinically-tested, has 20 servings per bottle, with only two calories per serving and zero fat. Crave-NX(TM) is a brand new diet aid that can help "Spray the Crave Away(TM)" while saving calories by controlling the user's sweet tooth and junk food cravings throughout the day, which can save up to 1,000 calories per day. Over a one-year period, saving just 250 calories per day adds up to over 90,000 calories -- or 26 pounds. Both companies intend to position Crave-NX as a product to complement other diet products and/or programs that help provide incremental sales for the pharmacy retailer and a new diet add-on solution for the consumer.
Commenting on the event Bill Abajian, Sr. Executive Advisor of Global Licensing and Business Development for Generex, stated "The launching of CraveNx(TM) 7-Day Diet Spray with this major pharmacy chain in North America is a significant step forward for Generex as it enters its commercialization phase and a key part of our global marketing strategy. Not only will this make our product widely available to consumers across the U.S., it also adds significant credibility for us as we roll out this brand. We formulated CraveNx(TM) 7-Day Diet Spray to act as a useful tool to combat those late-morning and late afternoon snack cravings that lead to excessive calorie intake as well as obesity and we are fully prepared to support the pharmacy's sales efforts. We have an aggressive media campaign consisting of TV, radio and print ads to create market awareness on the benefits of this product to coincide with the launch."
Generex has recently begun a new media campaign with radio ads already airing in New York, New Jersey, Houston, and Dallas, and is also expanding into television ads in these same markets. The radio and television ads can be heard and viewed at http://www.barkerdzp.com/cravenx/.
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, Lebanon, Algeria, 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. Antigen Express, Inc. is a wholly owned subsidiary of Generex. The core platform technologies of Antigen Express comprise immunotherapeutics for the treatment of malignant, infectious, allergic, and autoimmune diseases. For more information, visit the Generex website at www.generex.com or the Antigen Express website at www.antigenexpress.com.
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.