COSTA MESA, Calif.--(BUSINESS WIRE)--Oxygen Biotherapeutics, Inc. (OTCBB:OXBO) today announced that a study published in the October 2008 edition of the journal Neurosurgery demonstrates that Oxycyte® can improve cognitive recovery and has a protective effect on hippocampal neurons in an experimental Traumatic Brain Injury (TBI) model in rats. Oxycyte is the Company’s perfluorocarbon (PFC) therapeutic oxygen carrier.