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Sangart, Inc. Announces Key Executive Appointments and Company Restructuring
Date:1/7/2009

SAN DIEGO, Jan. 7 /PRNewswire/ -- Sangart, Inc., a privately held biopharmaceutical company focused on the research, development and commercialization of oxygen-therapeutic agents, today announced a company restructuring that includes the addition of four key leadership positions and a significant reduction in work force, primarily in the product manufacturing area. This restructuring reduces the company's burn rate and refocuses Sangart's business units on pursuing further clinical trials for its lead product, Hemospan(R).

"Sangart remains committed to developing a safe and effective oxygen-therapeutic agent," said Brian O'Callaghan, President and Chief Executive Officer of Sangart. "Our recent successful Phase III clinical studies of Hemospan demonstrated very encouraging efficacy results for the prevention and treatment of hypotension in hip replacement procedures. These trials provide a platform from which to conduct the pivotal clinical studies that will be necessary to establish the clinical benefit of treating patients with Hemospan. The appointment of key executives and the decision to reduce our workforce, which was difficult but necessary, will enable us to focus our resources on these upcoming clinical trials."

As part of the restructuring, Sangart announced appointments for four new leadership positions:

    -- Howard Levy MD, PhD, Chief Scientific Officer -- Dr. Levy will assume
       overall responsibility for preclinical, clinical research, and research
       and development for Hemospan.  A critical care and pulmonary physician,
       Dr. Levy brings more than 20 years of experience both serving as a
       principal investigator at research institutions as well as leading
       clinical study development teams for pharmaceutical companies. Prior to
       Sangart, he was responsible for clinical research of the hemostasis
       platform at Novo Nordisk, Inc.

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SOURCE  Sangart, Inc.
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