Generex Biotechnology Partner Olaregen Therapeutix Inc. Establishes Sales Force and Distribution Team for the Commercial Launch of Excellagen
Generex Biotechnology Corporation (OTCQB:GNBT) is pleased to announce that their partially-owned, but soon to be wholly-owned subsidiary, Olaregen Therapeutix has established a premier sales force in the wound care space and contracted with a Service-Disabled Veteran-Owned Small Business (SDVOSB) for distribution of Excellagen in the VA system through a network of veteran-owned distribution partners.
Olaregen CEO Anthony J. Dolisi commented, “Through a dedicated recruiting effort with our sales channel partners, we are building an expert sales force with extensive experience in medical sales and wound care. Olaregen now has 150+ Sales Consultants who are poised to successfully commercialize Excellagen by delivering outstanding and connected customer service. At Olaregen, we view customer support as an integral part of our mission to heal challenging wounds with cutting-edge regenerative medicine products like Excellagen, which is a novel cellular and tissue based product (CTP). CTPs are of particular benefit to chronic non-healing wounds as they work to stimulate wound healing by utilizing the patient’s own cells to rebuild tissues. We are pleased to have a dedicated sales force poised to launch Excellegen in the multi-billion wound care market in the first quarter of 2019.”
Olaregen provides a comprehensive sales training program for the sales team, including:
- A comprehensive module on wound development and progression, with detailed training on the use of Excellegen for the treatment and management of hard to manage wounds;
- Compliance training and education for all team members to promote organizational adherence to applicable federal and state law, and private payer healthcare requirements;
- Implementation of standard operating procedures (SOPs) to identify and eliminate fraud, waste, and abuse;
- Internal and external controls for sales tracking, verification, and validation.
In addition to these critical sales efforts, Olaregen is developing strategic relationships within the Government Services Administration (GSA) through a SDVOSB that maintains a network of veteran-owned marketing and distribution organizations that have preferred contractor status throughout the 21 Veteran Integrated Services Network (VISN) regions.
About Generex Biotechnology
Generex is a strategic, diversified healthcare holdings company with offerings in a variety of services, diagnostics, medical 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 on regenerative medicine, immunotherapy, and diabetes management.
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. 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. 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. The company'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.
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