MIRAMAR, Fla., July 31, 2019 (GLOBE NEWSWIRE) — Generex Biotechnology Corporation (www.generex.com) (OTCQB:GNBT) is proud to introduce Pantheon Medical (https://pantheonortho.com) as the newest member of the NuGenerex family of subsidiary companies. Pantheon is a manufacturer of orthopedic foot & ankle surgery kits that offer physician friendly “all-in-one,” integrated surgical kits that include plates, screws, and tools required for orthopedic surgeons and podiatrists conducting foot and ankle surgeries.
The orthopedic implants market was estimated at nearly $46 billion in 2017 is expected to reach $66 billion by 2025, according to a recent report by Allied Market Research (www.alliedmarketresearch.com/orthopedic-implants-market). The number of orthopedic surgeries, including hip & knee replacements, ankle & foot repairs and corrections, and fracture repairs continue to climb due to the aging population and the increased prevalence of obesity, which can lead to joint problems, particularly in the lower extremities.
Pantheon products are developed by combining decades of engineering and business experience with the talent and knowledge of leading orthopedic surgeons. The team continually collaborates with an international panel of foot and ankle surgeon experts to create efficiency, excellence and breakthrough solutions. Pantheon’s mission is to deliver premium implants, instructive surgeon medical education programs and to help facilities reduce costs and time required for case set up and inventory management.
“We are thrilled to welcome Travis H. Bird to the NuGenerex team,” said Joe Moscato Generex President & Chief Executive Officer. “Pantheon’s portfolio and distribution platforms are uniquely positioned to address the needs of orthopedic surgeons and podiatrists who are part of the NuGenerex Distribution Solutions MSO network, demonstrating our corporate commitment to foster cross-company synergies that generate sales through our proprietary distribution channels. We look forward to working with Travis and his team.”
Travis H. Bird, President & CEO of Pantheon Medical commented on joining Generex, “We are excited for the possibilities as we merge Pantheon into the NuGenerex family of companies. The orthopedic surgery market is growing rapidly and in need of new solutions that combine the state-of-the-art orthopedic implants, on demand ordering and distribution, and exceptional service to deliver the best possible outcomes for physicians and patients. Pantheon is also developing proprietary surgical systems to expand our product line. Over the next couple of years Pantheon will be developing a number of new product lines for submission to the FDA for 510K clearance, including cannulated screws and surgical staples, a proprietary hammertoe system, and new biologic products. The physician networks that we are building through NuGenerex not only provide proprietary market channels to facilitate product distribution, but also physician researchers who can advance the aims of our exciting development programs. We look forward to working with Joe and his team at Generex.”
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. Recent acquisitions include a management services organization, a network of pharmacies, clinical laboratory, and medical device companies with new and approved products.
Our newly formed, wholly-owned subsidiary, NuGenerex Distribution Solutions (NDS), integrates our MSO network with a pharmacy network, clinical diagnostic lab, durable medical equipment company (DME-IQ) and dedicated call center.
About Pantheon Medical
Pantheon Medical is a manufacturer of a physician friendly, “all-in-one”, integrated tray that includes plates, screws, and instruments required for orthopedic surgeons and podiatrists conducting foot and ankle surgeries. Generex is developing and submitting several new product lines to the FDA which will include cannulated screws, and small metatarsal bone fixation plates, and hammertoe correction kits.
About MediSource Partners
MediSource Partners is a 10-year-old private company, currently contracted with over 25 vendors (including Pantheon Medical) for nationwide distribution of implants and devices for spine, hips, knees, foot, ankle, hand, and wrist surgeries. Additional product lines include biologics (blood, bone, tissue, stem cells), durable medical equipment, and soft goods. MediSource also supplies kits to process bone marrow aspirates and platelet rich plasma biologics at the time of surgery.
About Olaregen Therapeutics
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. Generex 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. Additionally, Excellagen can serve as an Enabling Delivery Platform for pluripotent stem cells, antimicrobial agents, small molecule drugs, DNA-Based Biologics, conditioned cell media and peptides. Olaregen’s initial focus will be in advanced wound care including diabetic foot ulcers (DFU), venous leg ulcers and pressure ulcers. Future products focusing on innovative therapies in bone and joint regeneration comprise the current pipeline. Generex’s mission is to become a significant force in regenerative medicine and advance the science of healing.
About our Service-Disabled Veteran-Owned Small Business (SDVOSB)
This a Service-Disabled Veteran-Owned Small Business (SDVOSB) that specializes in the sale, marketing, and distribution of innovative medical products through a nationwide network of veteran owned distribution services.
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 Biotechnology Corporation
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