MORRISVILLE, N.C., July 25, 2011 (GLOBE NEWSWIRE) — Oxygen Biotherapeutics, Inc. (Nasdaq:OXBT) (SIX Swiss Exchange:OXBT) and privately held Aurum Biosciences, Ltd. of Glasgow, Scotland, today announced they signed a Letter of Intent (LOI) to conduct preclinical research for imaging and therapeutic intervention of acute ischemic stroke.�The research will be conducted by Aurum using Oxygen’s proprietary Oxycyte® PFC (perfluorocarbon) emulsion in combination with Aurum’s proprietary Glasgow Oxygen Level Dependent (GOLD) Magnetic Resonance Imaging techniques. �
The intent of this research is to better delineate which tissue has been damaged from a stroke, and to determine the effectiveness of the treatment being provided to the model.�Per the LOI, Aurum will seek funding for this research.
“Stroke is the third leading cause of death in the world and better treatments and diagnostics will go a long way toward improving that statistic,” said Chris Stern, Chairman and Chief Executive Officer of Oxygen.�”We are pleased to collaborate with Aurum on this important research initiative, which clearly is in line with our strategic vision.”
“Aurum is looking forward to working with Oxygen Biotherapeutics on the development of a novel stroke product,” said Gerry McGettigan, Chief Executive Officer of Aurum. “Our combined technology and stroke management product may for the first time allow us to accurately diagnose acute stroke and treat a majority of the patients effectively.”
U.S. and U.K. Stroke Statistics
An ischemic stroke occurs when a blood vessel that carries oxygen and nutrients to the brain is blocked by a clot. When that happens, part of the brain cannot get the blood and, therefore, the oxygen it needs, so it starts to die.�According to the American Stroke Association, approximately 795,000 Americans each year suffer a new or recurrent stroke. That means, on average, a stroke occurs every 40 seconds. Stroke kills more than 137,000 people a year in the United States alone and is the third leading cause of death�behind diseases of the heart and cancer. On average,�every 4�minutes someone dies of stroke. About 40 percent of stroke deaths occur in males, and 60 percent in females. According to The Stroke Association, an estimated 150,000 people have a stroke in the U.K. each year, accounting for around 53,000 deaths annually.�Stroke is the third most common cause of death in England and Wales, after heart disease and cancer.�Stroke accounts for 9 per cent of all deaths in men and 13 per cent of deaths in women in the U.K.
About Aurum Biosciences, Ltd.
Aurum Biosciences is dedicated to protecting lives through the use of its proprietary imaging technology and novel approach to therapy in areas such as stroke, cardiovascular disease, oncology and epilepsy. The technology behind Aurum’s products has come from researchers at the Southern General Hospital in Glasgow and The University of Glasgow, both leaders in the fields of neurological, cardiovascular and oncological disease research. Aurum is currently engaging with investors for the funding of research and development studies to complement the extremely promising data generated to date.
About Oxygen Biotherapeutics, Inc.
Headquartered in Morrisville, NC, Oxygen Biotherapeutics, Inc. is developing medical and cosmetic products that efficiently deliver oxygen to tissues in the body. The company has developed a proprietary perfluorocarbon (PFC) therapeutic oxygen carrier product called Oxycyte that is being formulated for both intravenous and topical delivery. The company has commercialized its DERMACYTE® line of oxygen-rich skin care products. In addition, the company is focused on perfluorocarbon-based oxygen carriers for use in traumatic brain injury, decompression sickness, personal care, and topical wound healing. More information is available at www.oxybiomed.com or www.buydermacyte.com.
The Oxygen Biotherapeutics, Inc. logo is available at http://ping.fm/GZMJC
Caution Regarding Forward-Looking Statements
This news release contains certain forward-looking statements by the company that involve risks and uncertainties and reflect the company’s judgment as of the date of this release. These statements include the Company’s ability to finalize an agreement with Aurum Biosciences Ltd. The forward-looking statements are subject to a number of risks and uncertainties including matters beyond the company’s control that could lead to delays in new product introductions and customer acceptance of these new products, and other risks and uncertainties as described in our filings with the Securities and Exchange Commission, including in the current report on Form 10-K filed on July 15, 2011. The company 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.
CONTACT: Oxygen Biotherapeutics
Ellen Corliss
Vice President,
Corporate Communications
& Investor Relations
(919) 855-2112
http://bit.ly/pDSumv
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