Generex Biotechnology Corp.OTCPK - Current
Oct. 13, 2015, 11:50 AM
- Generex (OTCQB:GNBT -2%) enters into a non-binding Letter of Intent with privately held MediTemp Ltd. to acquire a 51% equity interest in the Haifa, Israel-based firm for $5M and royalties on commercial sales.
- MediTemp, founded in 2007, has developed a proprietary cooling technology designed to improve sperm quality in men rendered infertile due to varicoceles, a condition characterized by enlarged veins (varicose) within the scrotum. The condition causes low sperm production and decreased sperm quality. The company's solution is called Varicure, a wearable, compact, portable and comfortable device that facilitates localized cooling of the testicles with the aim of enhancing male fertility by improving sperm quality.
- The intent of the proposed acquisition, along with previously announced deals with Hema Diagnostic Systems and Alfa Rhythm, is to broaden Generex's product opportunities.
Oct. 6, 2015, 11:48 AM
- Generex Biotechnology (OTCQB:GNBT) enters into a non-binding Letter of Intent (LOI) with privately-held Alfa Rhythm Ltd. to establish a 51% equity stake in the Israeli firm for $5M plus an 8% royalty on product sales. The discussions are at an early stage as the valuation and other due diligence efforts are not yet completed.
- Alfa has developed a proprietary transcranial electro-biometric stimulator for the treatment of symptoms of attention deficit hyperactivity disorder (ADHD), depression, anxiety and sleep disorders. It is designed to emit frequency-specific low voltage electric pulses for cerebral stimulation for a period of 10 - 30 minutes. Its goal is to modulate brainwaves to enhance attentiveness and concentration.
Sep. 30, 2015, 10:30 AM
- Generex Biotechnology (OTCQB:GNBT +4.4%) enters into a non-binding Letter of Intent (LOI) with Miramar, FL-based Hema Diagnostic Systems, LLC to acquire a 51% equity interest in Hema for $15M. Generex will also receive certain royalties of up to $50M.
- Hema has developed a portfolio of rapid point-of-care diagnostic tests for infectious diseases, including HIV, tuberculosis, HCV, HBV and malaria. The tests are for export only since they have not been cleared by the FDA.