Generex to buy Antigen Express

Canada's Generex Biotechnology has reached an agreement in principle to acquire all of the shares of privately-owned Antigen Express, in exchange for a maximum of 2,850,000 shares of the company's common stock. The specific number of Generex shares to be issued depends on satisfaction of certain Antigen Express performance milestones over the next 18 months. This agreement is subject to the completion of due diligence and formal documentation.

Generex previously announced an agreement in principle for a collaboration to develop severe acute respiratory syndrome vaccines with Antigen. These vaccines combine the firm's drug delivery and formulation technology with proprietary Ii protein suppression and Ii-Key peptide vaccine, enhancing the technologies of Antigen.