Generex acquiring stake in Hema Diagnostic

Generex Biotechnology Corp is acquiring a 51% interest in Hema Diagnostic Systems LLC, Miramar FL, to gain access to its suite of rapid diagnostic tests for infectious diseases such as HIV, tuberculosis and malaria. Toronto-based Generex will pay US$15 million for a majority share in HDS through its wholly owned subsidiary Antigen Express Inc — paid according to the firm's business plan timelines and milestones. It will receive a royalty on gross sales capped at $50 million. Generex has developed a platform technology that delivers drugs into the human body orally. HDS is building on its diagnostics suite by developing new tests for Ebola, Zika Virus, anthrax and chikungunya....