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Exhibit 21
SUBSIDIARIES OF GENEREX BIOTECHNOLOGY CORPORATION
| Name | Place of Incorporation | |
| Generex Pharmaceuticals, Inc. | Ontario, Canada | |
| 1097346 Ontario Inc. | Ontario, Canada | |
| Generex (Bermuda), Inc. | Bermuda | |
| Antigen Express, Inc. | Delaware, USA | |
| Generex Pharmaceuticals (USA) LLC. | North Carolina, USA | |
| Generex Marketing & Distribution Inc. | Ontario, Canada | |
| Generex Biotechnology BALTIC | Republic of Latvia | |
All subsidiaries are 100% owned.
To the extent that any of the above-named subsidiaries have commenced business operations, such subsidiaries conduct business only under their respective corporate names except for Antigen Express, Inc., which also does business under the name Generex Oncology and Generex Infectious Diseases.
1097346 Ontario Inc. a Canadian corporation incorporated in Ontario, Canada is a 100% owned subsidiary of Generex Pharmaceuticals, Inc.