ATLANTA, GA--(Marketwire - December 05, 2012) - Sanguine Corporation (OTCBB: SGUI), an innovator in perfluorocarbon ("PFC") based therapies, is pleased to announce that it has entered into a Letter of Intent (LOI) to purchase New Alliance Pharmaceuticals, Inc. ("New Alliance"). New Alliance holds an exclusive license for Oxygent™, the most clinically advanced perfluorocarbon (PFC) product in the world, with 20 clinical studies and ~250 preclinical studies already completed.
Mr. Frank Marra, the president of SGUI, said, "We are delighted to report to our shareholders that, after a careful due diligence, we have entered into an LOI to acquire New Alliance Pharmaceuticals, licensee of Oxygent. The acquisition of Oxygent is a potential game-changer for us. The extensive clinical history of Oxygent will put us at the forefront of oxygen therapy research and development. We are very much looking forward to closing this transaction and moving to the next phase of our plan." Mr. Marra added that he expects the acquisition to close by the first quarter of 2013.
About Sanguine Corp:
Sanguine Corporation is focused on pioneering the development and commercialization of innovative PFC based therapies and medical devices. Sanguine's philosophy is to develop products that have a sound scientific basis, a demonstrated proof of concept and adhere to the highest industry standards of product development. The Company achieves its designated objectives through two primary means: (1) the employment organic methodologies, and (2) strategic alliances through carefully managed partnerships with well positioned companies, universities, research institutions and government agencies.
Cautionary Note Regarding Forward-Looking Statements:
Forward-looking statements in this release are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including without limitation, continued acceptance of the Company's products, increased levels of competition for the Company, new products and technological changes, the Company's dependence on third-party suppliers, and other risks detailed from time to time in the Company's periodic reports filed with the Securities and Exchange Commission.