DURHAM, N.C., May 19, 2010 (GLOBE NEWSWIRE) -- Oxygen Biotherapeutics, Inc. (Nasdaq:OXBT) announced today that the Company has formalized working relationships with an international cosmetic company and a site monitoring company.
The cosmetic company has agreed to evaluate the patented technology underlying the Company's non-prescription topical beauty care products for potential use in a product line targeted for retail-based channels of trade, including mass market retailers.
The site monitoring company has agreed to assist the Company as it expands into India to initiate new sites for its Phase II-b clinical trial, "A Randomized, Placebo-Controlled, Double-Blind, Single-Dose Escalation Study to Evaluate the Safety and Tolerability of Oxycyte™ in Patients with Severe, Non-Penetrating Traumatic Brain Injury."
Terms of the agreements and identities of the companies involved were not disclosed.
About the Company
Oxygen Biotherapeutics, Inc. is developing medical and cosmetic products that efficiently deliver oxygen to tissues in the body. The company has developed a proprietary perfluorocarbon (PFC) therapeutic oxygen carrier and liquid ventilation product called Oxycyte™ that is being formulated for both intravenous and topical delivery. In April, the company launched its first cosmetic product, Dermacyte™ Oxygen Concentrate. In addition, the company is focused on perfluorocarbon-based oxygen carriers for use in traumatic brain injury, decompression sickness, personal care, and topical wound healing. More information is available at www.oxybiomed.com or www.buydermacyte.com.
The Oxygen Biotherapeutics, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=7277
Caution Regarding Forward-Looking Statements
This news release contains certain forward-looking statements by the company that involve risks and uncertainties and reflect the company's judgment as of the date of this release. These statements include those referring to the plans for the expansion of the Dermacyte product line and the timing of the introduction of those new products. The forward looking statements are subject to a number of risks and uncertainties including matters beyond the company's control that could lead to delays in the new product introductions and customer acceptance of these new products and other risks and uncertainties as described in our filings with the Securities and Exchange Commission, including in the current report on Form 8-K on May 4, 2010. Furthermore, there can be no assurance that such plans will lead to meaningful sales of Dermacyte or generate any revenue for the company. The company disclaims any intent or obligation to update these forward-looking statements beyond the date of this release. This caution is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.