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Generex Biotechnology Corporation (OTCMKTS:GNBT) To Merge With Kiromic Inc. Into Nugenerex Immuno-Oncology

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Generex Biotechnology Corporation (OTCMKTS:GNBT) has announced the signing of a letter of intent to merge with Kiromic Inc. to form a new Generex entity that shall be called NuGenerex Immuno-Oncology in an all-stock transaction.

Merger to form NuGenerex

With the merger, the new entity will house Kirimoric and Antigen Express Inc. the company’s subsidiary that is currently developing AE37 in combination with checkpoint inhibitors for triple negative breast cancer treatment. The merger presents a broad technology portfolio and vast pipeline opportunities for NuGenerex Immuno-Oncology as a leader in cancer immunotherapy.

Kiromic is working with MD Anderson Cancer Centre with multiple patented branded immuno-oncology platform that includes CAR NK, CAR-T, DIAMOND AI, an oral vaccine delivery system, proteomic analysis, AI system with a predictive algorithm that employs genomic sequencing as well as data for identifying tumor mutations.

Kiromic has so far applied DIAMOND AI technology in identification and validation on numerous cancer bio0makers that include SP17 that has been given orphan indication for treatment of ovarian cancer. It is currently in early-stage clinical trials and has filed for IND from the FDA for its oral formulation.

Besides the company advancing the ovarian cancer program they intend to advance the proprietary CAR-NK and CAR-T technologies into proof of concept studies. Equally, in cooperation with academic partners, the company looks forward to implementing the DIAMOND AI technology in various cancer research institutions in the country to identify new cancer antigens and develop a multidimensional database with genomic proteomic and clinical data to help customized treatment regimens.

NuGenerex to leverage expertise of Chiriva-Internati in advancing oncology innovations

Joe Muscato the CEO of Generex stated that the company was fortunate to have Dr. Maurizio Chiriva-Internati as the leader of NuGenerex Immuno-Oncology’s research and development efforts as the company looks to develop a world-class immunotherapy entity with three platforms. Maurizio is the founder of Kiromic and he is a senior research scientist currently at MD Anderson Cancer Centre in the gastroenterology department.

The CEO added that Chriva-Internati is renowned in the oncology sector through his work. His work includes DIAMOND AI algorithms, CAR NK and CAR-T, and oral vaccines.

BUSINESS

Innovative Industrial Properties Inc (NYSE:IIPR) Reports A Growth Of 183% YoY In Q2 2020 Revenues

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Innovative Industrial Properties Inc (NYSE:IIPR) posted an increase of 183% YoY to $24.3 million in Q2 2020. The shareholders received a 77% YoY increase in dividend at $1.06 for each share on July 15, 2020.

Raises $114.9 million

Innovative Industrial raised funds of $114.9 million through a public offering of 1.550 million common shares. The underwriters can also acquire additional 202259 shares. After Q2 2020, the company mobilized an additional $258.7 million by issuing 3.085 million common shares. It also provided an option for underwriters to buy additional 402,504 shares.

Acquires 8 properties

Beginning April 1, 2020, Innovative Industrial purchased 8 properties spanning 775,000 Sq. Ft. (rentable) based in Pennsylvania, New Jersey, Massachusetts, California, and Michigan for $191.5 million.

Tenant relationships

Innovative Industrial expanded prevailing tenant relationships with Holistic Industries Inc., Cresco Labs Inc., Ascend Wellness Holdings Inc., and Kings Garden Inc following the purchase of new properties. The company also formed new tenant relationships with Curaleaf Holdings Inc. and Columbia Care Inc. Innovative Industrial, the real estate company, invested $1.1 billion for tenant improvements as of August 5, 2020.

Purchases property in New Jersey

Innovative Industrial purchased a Blue Anchor, New Jersey-based property, which comprises 111,000 Sq. Ft. industrial space, for $5.5 million. The company signed a triple-net, long term lease agreement with Curaleaf’s subsidiary for the property. Curaleaf will use this space for medical cannabis processing and cultivation.

Curaleaf will make improvements to the property. Innovative Industrial will reimburse up to $29.5 million to Curaleaf for tenant improvements. Therefore, the total investment of Innovative Industrial for this property is $35 million.

Collections from rent

Innovative Industrial deferred rental collection for three tenants for May and June 2020 during coronavirus crises. It received rent in full in July 2020 from these three tenants. It netted 100% of the contractual rent for April, May, and June 2020, excluding from tenants based in LA, California property.

Innovative Industrial holds 61 properties as of August 5, 2020, in several locations that comprise Minnesota, New York, New Jersey, Michigan, Maryland, California, Arizona, Ohio, North Dakota, and Florida. The total rentable area from these properties is 4.5 million Sq. Ft.

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GW Pharmaceuticals PLC (NASDAQ:GWPH) Reports A Growth Of 68.4% In Q2 2020 Revenues: Epidiolex Oral Solution Receives The Nod Of FDA To Treat Seizures

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GW Pharmaceuticals PLC (NASDAQ:GWPH) posted a growth of 68.4% YoY to $121.3 million in revenues in Q2 2020. CEO of GW Pharmaceuticals, Justin Gover, said the company posted impressive sales of Epidiolex in the US despite ongoing COVID-19 pandemic. The recent approval for Epidiolex to treat seizures related to TSC provided an excellent opportunity for GW Pharmaceuticals to expedite growth in H2 2020 and beyond.

Excellent prospects for product line

Nabiximols of GW Pharmaceuticals has excellent growth prospects to treat spasticity in patients suffering from MS and other health problems. The company will commence Phase 3 clinical study of nabiximols and trials of its other candidates in H2 2020.

Highlights

Epidiolex generated total net sales of $117.7 million in Q2 2020. Its net sales in the US are $111.1 million. The FDA (Food and Drug Administration) approved Epidiolex for TSC indication. GW Pharmaceuticals expects to commercialize the product in August 2020.

Reimbursement and pricing for Epidiolex in Germany, Italy, and France are underway. GW Pharmaceuticals will initiate a Phase 3 clinical trial of this innovative product for Rett Syndrome in H2 2020.

GW Pharmaceuticals completed Phase 3 clinical trials for Nabiximols for patients with MS spasticity in nations outside the US. It will commence new Phase 3 clinical trials for this innovative formulation in patients suffering from MS Spasticity in the second half of 2020 and the first half of 2021 to get eligibility for NDA submission.

GW Pharmaceuticals will conduct Phase 3 clinical trials of nabiximols for SCI (Spinal cord injury) spasticity this year and next year. It will begin the clinical observation trial in Q4 2020.

Oral solution – Epidiolex receives FDA nod for seizures cure

The cannabis-based Epidiolex, an oral solution, received the nod of the US FDA to cure seizures related to TSC (Tuberous Sclerosis Complex). It is recommended for persons aged one year and above.

Cannabis-derived medicine can be used for patients aged one year and more to treat seizures associated with Dravet Syndrome or LGS (Lennox-Gastaut syndrome).

The rare disease TSC can lead to the growth of benign tumors in important organs of humans and could cause genetic epilepsy.

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Sunniva Inc (OTCMKTS:SNNVF) Clinches A Deal To Net CAD 3.2 Million From The Sale of Okanagan Falls Property

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1167025 B.C. Ltd, a subsidiary of Sunniva Inc (OTCMKTS:SNNVF), entered a pact to sell its Okanagan Falls Property for CAD 6.8 million. The net proceeds of the deal for Sunniva will be CAD 3.2 million after discharging the mortgage and other related closing costs to the buyer. Sunniva expects to close the deal on or before August 10, 2020.

After the sale of the Okanagan Falls property, Sunniva will retain the ownership of 1167025 B.C. Ltd, and the assets currently exist on the site.

Sales of branded cannabis products

Sunniva engages in the sale of branded cannabis products through its subsidiaries in California and Canada. The company targets to become a vertically integrated cannabis manufacturer by developing cGMP designed greenhouses. It also scouts for expanding its retail locations and provide cannabis products, which are free from pesticides.

Valens gets CAD 40 million from the credit facility

Valens Company Inc. (OTCMKTS: VLNCF) entered a pact to mobilize funds of CAD 40 million (CAD 20 million as short term loan and another CAD 20 million as a revolving loan) from a syndicated credit facility. Canadian IBC (Imperial Bank of Commerce) and ATB Financial will act as the co-lead arrangers for the credit facility.

CEO of Valens, Tyler Robson, said the company has sufficient funds, but additional funding will help it strengthen its financial flexibility and reduce the average cost of the capital. The company will expand its product line and develop a customized production platform. It scouts for exploring opportunities in the Canadian market and provide higher returns on investment for the shareholders.

The company’s annual capacity of hemp biomass and dried cannabis is 425,000 Kg at its Kelowna, British Colombia based purpose-built facility. It initiated steps to become a GMP compliant manufacturing company.

The product line of Valens

The product portfolio of Valens includes soft gels, tinctures, vape pens, oral sprays, two-piece caps, beverages, and natural health products.

Health benefits of CBD beverages

CBD, aka cannabidiol, is derived from cannabis for medicinal use. It doesn’t comprise any psychoactive properties. Cannabis-infused drinks are gaining popularity day by day. CBD beverages are free from calories and sugar and provide health benefits like sound sleep, relief from inflammation, pain relief, and stress relief. Cannabidiol helps to manage heart diseases, cancer, and chronic pain.

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