GENEREX BIOTECHNOLOGY RAISES $2.0 MILLION

Generex Biotechnology, a leader in the area of buccal drug delivery, announced today that that it has signed a definitive agreement with the holders of its 6% Secured Convertible Debentures for the issuance of additional Debentures and warrants for an aggregate purchase price of $2,000,000. Generex expects to utilize the proceeds from the transaction to fund the initial launch of commercial sales of its flagship product, Oral-lyn (a proprietary oral insulin buccal spray product), accelerate further clinical development activities and for working capital and other general corporate purposes.

PharmaLive (http://www.pharmalive.com/News/index.cfm?articleid=249357&categoryid=36%2C61)