Oxygen Biotherapeutics, Inc. and Aurum Biosciences Enter Joint Research Agreement to Develop an Oxycyte(R)-Based Diagnostic Tool and Therapeutic for Acute Ischemic Stroke

MORRISVILLE, N.C., Feb. 1, 2012 (GLOBE NEWSWIRE) -- Oxygen Biotherapeutics, Inc. (Nasdaq:OXBT) and privately held Aurum Biosciences Ltd. of Glasgow, Scotland, today jointly announced they have signed a long-term agreement to develop a better tool for defining the extent of injury in acute ischemic stroke and for treating this emergency in the important early hours after the attack. At the center of both efforts is Oxygen Biotherapeutics' proprietary, perfluorocarbon-based Oxycyte emulsion, which is known for delivering large amounts of oxygen to the brain. The key to the diagnostic work lies in Aurum's proprietary GOLD (Glasgow Oxygen Level-Dependent) Magnetic Resonance Imaging (MRI) technology, which has already shown great promise in mapping potentially salvageable tissue in the brain after stroke in the brain.