Venture Market News for November 29, 2018
- Generex Biotechnology Expands Medical Device & Wound Care Portfolio with Acquisition of Regentys Corporation
Generex Biotechnology Corporation (OTCMKTS:GNBT) is pleased to announce that the company has signed a Binding Letter of Intent to acquire 51% of Regentys Corporation, a regenerative medicine company focused on developing treatments for patients with gastrointestinal (GI) disorders. The company’s first product, Regentys Extra-Cellular Matrix Hydrogel, is a first-in-class, non-pharmacologic, non-surgical treatment option for patients suffering from Ulcerative Colitis. Regentys has received guidance from FDA that the treatment can be approved through the FDA Office of Device Evaluation as a 510K de novo application, and the company will initiate the clinical studies necessary to obtain that approval by Q4 2019. Generex made an initial payment of $400,000 on November 28, 2018, to secure the agreement and the company is in the process of completing the legal documents with a plan to close the transaction in the coming weeks.
- CytoDyn’s Prostate Cancer Prognostic Test Demonstrates Substantial Added Value to Gleason Score in Predicting Patient Outcomes
VANCOUVER, Washington, Nov. 29, 2018 (GLOBE NEWSWIRE) — CytoDyn Inc. (OTC.QB: CYDY) announces that results from a recent clinical study showed that CytoDyn’s PCaTest provides substantial additive discriminative value for predicting outcomes of patients diagnosed with prostate cancer compared to the Gleason score, the current standard for prostate cancer diagnosis. The positive clinical data from two groups totaling 218 patients and followed for 10 years adds to three prior clinical studies conducted in more than 350 patients that demonstrated a high predictive value for CytoDyn’s PCaTest in determining outcome of men diagnosed with prostate cancer. The new findings support the Company’s strategy for seeking U.S. Food and Drug Administration (FDA) approval for the PCaTest.
- WeedMD Reports Third Quarter 2018 Financial Results
Increased Revenue by 461% Year-Over-Year Prior to Opening of Canada’s Adult-Use Market
Experienced Leadership Team in Place to Navigate Rapid Expansion Phase and Accretive Business Development Initiatives
Secured Sales Licence for State-of-the-Art Hybrid Greenhouse in Strathroy, Ontario, with Fully-Funded Path to 500,000 Square Feet of High-Quality, Cost-Effective Cannabis Cultivation
TORONTO, Nov. 29, 2018 (GLOBE NEWSWIRE) — WeedMD Inc. (TSX-V:WMD) (OTCQX:WDDMF) (FSE:4WE) (“WeedMD” or the “Company”), a federally-licensed producer and distributor of medical-grade cannabis, is pleased to report its financial results for the three and nine months ended September 30, 2018.
- ISBG Issues Corporate Update Following Major Developments
LAS VEGAS, NV, Nov. 29, 2018 (GLOBE NEWSWIRE) — via NEWMEDIAWIRE — International Spirits and Beverage Group Inc. (OTCQB:ISBG) (“ISBG” or the “Company”), a top-tier brand incubator in the Global Wine & Spirits and CBD-Infused Products markets, presents the following corporate update in the wake of several major developments that may be relevant to current and prospective ISBG investors seeking to understand the operational and strategic context for the Company.
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