COSTA MESA, Calif., April 14 /PRNewswire-FirstCall/ -- Oxygen Biotherapeutics, Inc. (OTC Bulletin Board: OXBO) today announced it has reached a development and commercial supply agreement with Hospira Inc.'s One 2 One(R) Global Pharmaceutical Services business unit to manufacture clinical-grade Oxycyte(R). Oxycyte is the company's perfluorocarbon (PFC) therapeutic oxygen carrier. Oxycyte will be manufactured at Hospira's Clayton, North Carolina, facility which specializes in emulsion technology.
Hospira will formulate, fill, finish and label Oxycyte to meet clinical good manufacturing practice (GMP) standards required for use of drugs in human patients. The amount of Oxycyte supplied by Hospira will be sufficient to meet any expected demand for the foreseeable future.
"This agreement connects us to a first-tier contract manufacturer and superbly reliable supplier who will provide us with all the Oxycyte we need to grow the company. As I've previously stated, our strategy is to license marketing rights for individual indications, yet always control the supply of our compound and be able to profit from sales of Oxycyte to licensees," said Chris J. Stern, company chairman and CEO.
The companies are not disclosing the financial terms of the supply agreement.
About Oxygen Biotherapeutics, Inc.
Oxygen Biotherapeutics, Inc. is dedicated to commercializing innovative pharmaceuticals and medical devices in the field of oxygen therapeutics and continuous substrate monitoring. The company has under development a perfluorocarbon therapeutic oxygen carrier and liquid ventilation product (Oxycyte(R)) 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 traumatic brain injury, sickle cell crisis pain, trauma, wound care, acute respiratory distress syndrome, stroke, myocardial infarction, surgery, and diabetes. More information is available at www.oxybiomed.com.
Caution Regarding Forward-Looking Statements
This news release contains certain forward-looking statements by Oxygen Biotherapeutics, Inc. that involve risks and uncertainties and reflect the company's judgment as of the date of this release. These statements include those referring to licensing and partnering of Oxycyte indications and plans to profit from the sale of Oxycyte to such licensees and partners. Actual events or results may differ from Oxygen Biotherapeutics, Inc.'s expectations. There can be no assurance that the company will be able to license or partner Oxycyte for any indications or that sale of Oxycyte to licensees and partners will generate profits for the company. Nor can there be any assurance that any Oxycyte-based products will reach the market. Additional information concerning these and other risk factors affecting Oxygen Biotherapeutics, Inc.'s business can be found in the company's public periodic filings with the Securities and Exchange Commission, which are available via www.oxybiomed.com. Oxygen Biotherapeutics, 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.
|SOURCE Oxygen Biotherapeutics, Inc.|
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