Thursday, August 21, 2008

Generex oral glucose spray heads to Brazil

By Mass High Tech Staff

Under a new deal with ABP-Comercio, Importacao E Exportacao Ltda, Generex Biotechnology Corp. will begin distributing and selling its glucose buccal spray, an oral glucose supplement, in Brazil.

The proprietary drug-delivery product, Glucose RapidSpray, may be registered, imported, marketed, distributed and sold in Brazil, under terms of the deal. The fat-free glucose, sprayed into the mouth, can be used in treating diabetes.

Generex Biotechnology (Nasdaq: GNBT) chief operating officer Rose Perri noted the deal as the first introduction of the glucose spray to the South American market.

The Toronto-based firm, which specializes in drug delivery through the inner lining of the mouth, has a 12-person lab in Worcester. In 2007, it reported a net loss of $23.5 million on total revenue of $18,000.