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Biopure Announces 2007 Fourth Quarter and Year-End Financial Results
Date:1/28/2008

Unit in South Africa, a company-sponsored, 50-patient Phase 2 safety trial of Hemopure in the hospital emergency room setting remains ongoing. The patients in this trial are unstable trauma patients who have significant blood loss and low blood pressure. In December 2006, an independent data safety and monitoring board reviewed the data from the first 21 patients in this trial, and recommended that the trial continue without modification. The trial has enrolled 32 of 50 planned patients.

U.S. Navy Sponsored Research. During the fourth quarter, the U.S. Navy agreed to buy Hemopure and seven different modifications of Hemopure for preclinical testing. Biopure formulated and manufactured the modified versions of Hemopure to test hypotheses concerning changes in formulation in relation to physiological effects. That testing is now ongoing in eight institutions under grants from the Navy aggregating $1.7 million and at Navy facilities with Navy preclinical investigators. Based on information to date, all of which is interim, we do not anticipate that these modifications will supplant Hemopure. Proceeds to the Company from the product sales are expected to be $1.6 million.

Compassionate Use Cases

Hemopure has been administered to 21 patients since January 2007 in the U.S. on a "compassionate use" basis for the treatment of life-threatening anemia when blood transfusion was not an option. The FDA granted a single patient IND in each of these emergency situations and also approved treatment for an additional 15 patients where the product was not administered. Prior to these cases, there had been no compassionate use of the product since 2000.

Abstracts Accepted

Four abstracts by Biopure and collaborating scientists were accepted for presentation at the American Society for Clinical Pharmacology and Therapeutics annual meeting to be held April 2-5, 2008. These abstracts address the basis for adverse event outcomes and other key findings in
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