Olaregen Therapeutix Inc., a subsidiary of Generex Biotechnology Corporation (OTCMKTS:GNBT), will unveil Excellagen Wound Conforming Gel Matrix in three dosages. The cellular and tissue-derived product got the nod of US FDA for wound healing.
0.8cc and 0.5cc syringes for administering Gel
The company will use 0.8cc and 0.5 cc syringes for the administration of the innovative gel in patients suffering from wounds including pressure ulcers, venous stasis ulcers, and diabetic foot ulcers. It will use the 3cc syringes to treat more significant wounds observed in surgical suites, operating rooms, and emergency departments. The reimbursement code for the gel matrix is 4149.
Launch team introduces gel in surgical centers
The launch team of the company will introduce the gel matrix in the department of VA and Defense system, wound care centers, operating rooms, surgical centers, and via pediatric practices. Olaregen is negotiating contracts with surgical wound care centers across the nation to use Excellagen to treat various types of wounds. It can cure undermined/ tunneled wounds, full thickness and partial wounds, trauma wounds, surgical wounds, and draining wounds. Besides, Generex subsidiary – NuGenerex Distribution Centers would introduce Excellagen in five states through MSO network of podiatrists and surgeons.
CEO of Olaregen, Anthony J. Dolisi said the existing products require multiple applications for the same procedure. It is inefficient and time-consuming. The company analyzed the market, listened to the needs of customers by holding discussions with physicians and decided to launch Excellagen to address this issue efficiently and effectively. It is offered in multiple doses to offer flexibility and improve clinical outcome. It is economical and offers faster results.
Assistant clinical professor (cardiology and anesthesia) at Yale School of Medicine, Dr. Peter Blume said Olaregen offers Excellagen in convenient dosage options such as 0.8cc and 0.5cc to cure small wounds including pressure ulcers, VSU, and DFU. It is cost effective and saves the time of physicians. The market for wound care in the US is 77 million surgical wounds. FDA has approved Excellagen to treat a percentage of such wounds effectively.
The shareholders of
Generex will receive shares in NuGenerex. The record date for the dividend is
January 17, 2019. As per the structure of the dividend, the shareholders of
Generex will get one share of NeGenerex for every four shares they hold in