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Generex merging NuGenerex with public company to complete planned spinout

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Generex merging NuGenerex with public company to complete planned spinout

Generex Biotechnology Corp. is merging its subsidiary NuGenerex Immuno-Oncology with a public company to complete a planned spinout.

Miramar, Fla.-based Generex expects to list the spinout on a public exchange by the end of November. The public company was not named in an Oct. 15 press release.

The merger is part of Generex's go-public strategy to gain value from the Ii-Key technology and AE37 immunotherapeutic vaccine program. Generex announced plans to spin out the NuGenerex subsidiary into a separate publicly traded company in January.

Generex in June signed a letter of intent to merge NuGenerex Immuno-Oncology with Lubbock, Texas-based private company Kiromic LLC in an all-stock transaction.

NuGenerex Immuno-Oncology, which is focused on developing immunotherapies to treat cancer, infectious diseases and autoimmune disorders, is currently conducting a phase 2 study to determine the recommended dose for AE37 Peptide Vaccine in combination with Merck & Co. Inc.'s Keytruda for the treatment of patients with advanced triple-negative breast cancer.