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Oxygen Biotherapeutics, Inc. Signs Cooperative Research and Development Agreement With Naval Medical Research Center and Walter Reed Army Institute of Research
Date:5/13/2009

COSTA MESA, Calif., May 13 /PRNewswire-FirstCall/ -- Oxygen Biotherapeutics, Inc. (OTC Bulletin Board: OXBO) today announced that the company has signed a Limited Purpose Cooperative Research and Development Agreement (LP-CRADA) with the Naval Medical Research Center (NMRC) and the Walter Reed Army Institute of Research (WRAIR), Federal laboratories of the United States Department of Defense.

Under the agreement the company would provide information that would be used by NMRC and WRAIR for preparation, writing, and submission to the FDA of an Investigational New Drug (IND) application for the use of Oxycyte(R) for the treatment of decompression sickness. Oxycyte is the company's perfluorocarbon (PFC) therapeutic oxygen carrier.

For more color on what this agreement means to the company, please read today's blog by Oxygen Biotherapeutics, Inc. chairman and CEO, Chris Stern, which can be accessed via the Shareholder Forum link on the Investor Relations page of the company website at www.oxybiomed.com. It can also be accessed directly by pasting the following link into a web browser: http://eshareholderforum.com/oxbo/Chris_Stern/.

About the Walter Reed Army Institute of Research

Walter Reed Army Institute of Research is the largest, most diverse, and oldest laboratory in the US Army Medical Research and Material Command. It conducts research on a range of military relevant issues, including naturally occurring infectious diseases, combat casualty care, operational health hazards, and medical defense against biological and chemical weapons. WRAIR is the Department of Defense's lead agency for infectious disease research and a crucial source of research support for medical product development.

About Oxygen Biotherapeutics, Inc.

Oxygen Biotherapeutics, Inc. is dedicated to commercializing innovative pharmaceuticals and medical devices in the field of oxygen therapeutics and Defense Medicine(TM). The company has under development a perfluorocarbon therapeutic oxygen carrier and liquid ventilation product (Oxycyte(R)) and has out-licensed 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, decompression sickness, acute respiratory distress syndrome, stroke, myocardial infarction, surgery, diabetes and cosmetic applications. More information is available at www.oxybiomed.com.


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