COSTA MESA, Calif.--(BUSINESS WIRE)--Synthetic Blood International, Inc. (OTCBB:SYBD - News) and the Virginia Commonwealth University (VCU) Tech Transfer today announced that they have signed a license agreement allowing the company exclusive use of certain VCU discoveries. The discoveries relate to non-pulmonary oxygenation, enhanced oxygen transport to tissue, and gas-based wound and tissue therapeutics.
“These licenses will allow our company to develop novel products with Oxycyte® in combination with hydrogen peroxide. We believe these can be developed to be used in cardiopulmonary indications and for revolutionary wound treatment indications and devices,” said company chairman and CEO Chris J. Stern, DBA. “This license agreement is a substantial expansion of our intellectual property. The potential products from this new IP could add immense value to the company and its future.” Oxycyte is the Company's perfluorocarbon (PFC) therapeutic oxygen carrier and blood substitute.
“We are pleased to have a signed license with Synthetic Blood International,” said Ivelina Metcheva, Ph.D., MBA, Director of VCU Tech Transfer and President of the VCU Intellectual Property Foundation. “The company already has a strong relationship with VCU researchers and this agreement should help their work result in life-saving products.”
About Synthetic Blood International
Synthetic Blood International 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 Virginia Commonwealth University Tech Transfer
The VCU Tech Transfer was founded in 1994 to promote commercialization of VCU-developed intellectual property by evaluating, protecting and licensing it to industry. VCU Tech Transfer reviews and evaluates nearly 80 new inventions per year and it has generated more $10 million in licensing revenue since its formation. For more: http://www.research.vcu.edu/ott
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 references to novel products that could be developed as a result of the license agreement, forecasts or expectations of the value of such products, their treatment potential, and the potential value of the acquired intellectual property. Actual events or results may differ from Synthetic Blood International, Inc.'s expectations. There can be no assurance that any new products will be developed from the acquired intellectual property or that any potential products that might be developed will be approved for use by the FDA for any purpose or that, if approved, they will be successful in the market or contribute financial value to the company. 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.
Abe Wischnia & Associates
Abe Wischnia, 619-795-2345
Source: Synthetic Blood International, Inc.