Generex Biotechnology Corporation and its majority owned entity NuGenerex Immuno-Oncology, Inc., agreed and signed an extension for the receipt of the USD 5,000,000.00 upfront licensing fee payment from the “Joint Entity” as set forth under the II-Key Innovative Vaccine Development Agreement signed November 13, 2020, with Beijing Youfeng International Consulting Co., Ltd, National Institute for Viral Disease Control and Prevention, Chinese Centre for Disease Control and Prevention (“NIVDC”) and Beijing Guoxin Haixiang Equity Investment Partnership to set up a joint research team and a joint entity in China that shall jointly develop and industrialize the Generex internationally patented Ii-Key innovative technology for a SARS-CoV-2 coronavirus peptide vaccine and other vaccines in the People's Republic of China and for Generex to provide the Joint Entity with an exclusive license to use its intellectual property; technical know-how, pre-clinical and clinical data and background materials, in each case, relating to Ii-Key-SARS-CoV-2 technology in the People's Republic of China, including Hong Kong Special Administrative Region and Macau Special Administrative Region, but excluding the Islands of Taiwan.