Generex Biotech acquires control of Regentys
Canada-headquartered Generex Biotechnology (OTCQB:GNBT) has completed the acquisition of 51% of USA-based Regentys, a regenerative medicine company focused on developing novel treatments for patients with gastrointestinal (GI) disorders.
The terms of the deal include the previously reported upfront payment of $400,000, plus $14.6 million to be paid according to a milestone-based schedule. News of the deal saw Generex’ shares rise 13.04% to$1.56.
The Regentys Extracellular Matrix Hydrogel (ECMH) is a first-in-class, non-pharmacologic, non-surgical treatment option for patients suffering from ulcerative colitis. ECMH is a proprietary, patented UC treatment that protects damaged tissue from waste flow and promotes tissue regeneration and healing rather than suppressing the immune system as other treatments currently do.
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