Synthetic Blood International, Inc. (OTCBB:SYBD) today announced that it has signed an agreement to lease space for a research office in the Virginia BioTechnology Research Park, located in Richmond, VA.
This space will be used to coordinate research between the company and sponsored researchers at Virginia Commonwealth University Reanimation Engineering Shock Center (VCURES). A number of pre-clinical and clinical projects utilizing Oxycyte® are presently underway and others are planned at VCURES. Oxycyte is the Company’s perfluorocarbon (PFC) therapeutic oxygen carrier and blood substitute.
“The offices at the Virginia BioTechnology Research Park will further support and enhance the growth of new technologies from the laboratory bench to the patient bedside,” said company chairman and CEO Chris J. Stern, DBA. “While strengthening our development activities with researchers at VCURES, this amazing opportunity comes at a very favorable cost/benefit ratio. It will actually help us to preserve money because expenses to coordinate that research will decrease.”
Dr. Bruce Spiess, M.D. is Virginia Commonwealth University Professor of Anesthesiology and Emergency Medicine, Director of Research (Anesthesiology) and Director of VCURES. He is also on the company’s Board of Directors. “It is my hope that the relationship between the company and VCU will grow closer and more vital in the future as a result of this new research presence and that it will lead to improved ways to deliver oxygen in critical illness and injury,” said Dr. Spiess. “I’m very excited about this development and what it might mean for the company’s future.” Dr. Spiess is the co-chair of the company’s Scientific Advisory Board and has been conducting clinical trials using Oxycyte in the treatment of Traumatic Brain Injury patients.
“It’s especially exciting to us when a company working with VCU joins the Virginia BioTechnology Research Park because of the role the university has played in the Park’s creation and growth. We welcome Synthetic Blood International as it joins more than 55 other life science organizations located in the Research Park,” said Robert T. Skunda, president and CEO of the Virginia BioTechnology Research Park.
About Synthetic Blood International
Pending approval at a shareholder meeting scheduled for June 17, 2008, the company will change its name to Oxygen Biotherapeutics, Inc. The company is dedicated to commercializing innovative pharmaceuticals and medical devices in the field of oxygen therapeutics and continuous substrate monitoring. The Company has under development an oxygen therapeutic/blood substitute and a liquid ventilation product, and an implantable glucose sensor. These products are based upon core technologies that include biomedical applications for PFCs, and medical and industrial applications for biosensors. Each of the product candidates is designed with advantages over currently marketed products in major markets including acute respiratory distress syndrome, stroke, myocardial infarction, surgery, trauma, malignant tumors and diabetes. For further information, visit www.sybd.com.
About the Virginia BioTechnology Research Park
The Virginia BioTechnology Research Park is located on a 34-acre campus adjacent to Virginia Commonwealth University Medical Center. It is currently home to a unique mix of more than 55 public and private bioscience companies, research institutes affiliated with the VCU Medical Center and major state and national medical laboratories. These companies are housed in nine buildings totaling more than 1.1 million square feet of space, representing an employee base that exceeds 2,000.
Caution Regarding Forward-Looking Statements
This news release contains certain forward-looking statements by Synthetic Blood International, Inc. that involve risks and uncertainties and reflect the company's judgment as of the date of this release. These statements include those related to its acquisition and use of research space at the Virginia BioTechnology Research Park. Actual events or results may differ from Synthetic Blood International, Inc.'s expectations. There can be no assurance, for example, that use of the space will lead to any new technologies, products or successful product development or that any hoped-for benefits, including cost savings, will be realized.
Additional information concerning these and other risk factors affecting Synthetic Blood International, Inc.'s business can be found in the company's public periodic filings with the Securities and Exchange Commission, which are available via www.SYBD.com. Synthetic Blood International, Inc. 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.
Contacts:
Abe Wischnia, 619-795-2345
