MORRISVILLE, N.C., July 20, 2011 (GLOBE NEWSWIRE) -- University and educational institution researchers from the United Kingdom, Switzerland and the United States all have one thing in common: an interest in exploring the properties of a novel perfluorocarbon that was developed by an emerging development-stage biomedical company named Oxygen Biotherapeutics, Inc. (Nasdaq:OXBT) (SIX Swiss Exchange:OXBT).
Located in the heart of North Carolina's Research Triangle region, Oxygen Biotherapeutics said that it now has several ongoing Material Transfer Agreements with universities and research institutions around the world. Although not approved as a therapeutic treatment in the United States, preclinical research with Oxycyte PFC is being conducted by scientists who believe it has potential application relating to organ preservation, wound healing, digit amputations, spinal cord injury and subarachnoid hemorrhage. Per the agreements, Oxygen Biotherapeutics supplies the specialized formulations of the PFC to the institutions for their preclinical research.
One formulation, the intravenously-delivered Oxycyte PFC, is a third-generation emulsion containing an inert, proprietary PFC. The emulsion is stable and carries 43 mL of oxygen per 100 mL. It is capable of uploading and offloading oxygen more efficiently than blood because the median size of each emulsion droplet is 40 to 50 times smaller than an erythrocyte. Therefore, Oxycyte is able to carry more oxygen per mL of blood and effectively oxygenate tissues, even where blood cell flow is obstructed. It is these properties that make Oxycyte PFC a promising product candidate in the treatment of a variety of medical conditions.
The Company's topical product, Wundecyte™ is a novel perfluorocarbon gel designed to be used as a wound healing gel. It can be used alone or in combination with an oxygenating bandage. Other potential applications include dermatological conditions such as atopic dermatitis, pruritus and acne. The company's cosmetic, DERMACYTE®, is already being sold commercially in the United States, Europe and Mexico.
"We are committed to working with university and corporate researchers worldwide to improve our understanding of our specialized formulations, how they work, their benefits and ultimately their therapeutic value, which we believe is multi-faceted. As a small company we are interested in collaborating with strategic partners and exploring out-licensing opportunities where these relationships can expedite our products through preclinical and clinical studies to full commercialization," said Chris Stern, Chairman and Chief Executive Officer.
Currently, Oxygen Biotherapeutics has MTAs in place with the following educational institutions, among others:
- Bern University Hospital, Switzerland
- Eastern Illinois University
- Hackensack University Medical Center
- Penn State Hershey Medical Center
- University of Leicester, United Kingdom
Other MTAs are in place with the U.S. Army and Navy for preclinical research in traumatic brain injury and decompression sickness, respectively.
About Oxygen Biotherapeutics, Inc.
Headquartered in Morrisville, NC, Oxygen Biotherapeutics, Inc. is developing medical, topical and cosmetic products that efficiently deliver oxygen to tissues in the body. The company has developed a proprietary perfluorocarbon (PFC) therapeutic oxygen carrier product being formulated for both intravenous and topical delivery. This year, the company launched its DERMACYTE® line of oxygen-rich skin care products. 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.dermacyteus.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 the expansion of research and development of the Oxycyte product line, including 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 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 10-K filed on July 15, 2011. 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. Further, the foregoing statements are made by Oxygen Biotherapeutics, Inc. and not the educational institutions regarding the results of their respective research.