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Oxygen Biotherapeutics And Hackensack University Medical Center Sign Research Contract Funded By The U.S. Department Of Defense To Study Wound Healing Properties Of Wundecyte(TM) Gel

DURHAM, N.C., Jan. 28, 2011 (GLOBE NEWSWIRE) -- Oxygen Biotherapeutics, Inc. (Nasdaq:OXBT) (SWX:OXBT) today announced it has signed a research contract with Hackensack University Medical Center (HUMC) to research wound healing properties of the Oxygen Biotherapeutics' Wundecyte™ perfluorocarbon (PFC) and its novel oxygen-producing bandage for treatment of full-thickness excisional wounds and partial thickness burns. The preclinical study will also evaluate Wundecyte's ability to prevent scar formation and improve infection control. This project will be funded by the U.S. Department of Defense.

Dr. Antoine Carlisle, a research scientist at HUMC, will be the Principal Investigator. Oxygen Biotherapeutics researchers will work closely with HUMC by participating in the study design and investigator meetings.

According to Oxygen Biotherapeutics Chief Medical Officer Gerald L. Klein, MD, "Wounds and burns are the most common injuries faced by our soldiers daily. We believe that providing additional oxygen may help heal wounds, fight infections and decrease scarring. Wundecyte, our PFC gel, used alone and in combination with a bandage that releases oxygen to the damaged tissue site, may be particularly useful in military applications. Naturally, if study results are favorable, it may also have applications for civilian injuries as well. We look forward to working closely with HUMC on this important study."

About Oxygen Biotherapeutics, Inc.

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 and liquid ventilation product called Oxycyte that is being formulated for both intravenous and topical delivery. This year, the company launched 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://www.globenewswire.com/newsroom/prs/?pkgid=7277

About Hackensack University Medical Center

Hackensack University Medical Center, a 775-bed teaching and research hospital affiliated with the University of Medicine and Dentistry of New Jersey – New Jersey Medical School, is the largest provider of inpatient and outpatient services in the state of New Jersey. Founded in 1888 with 12 beds and as Bergen County's first hospital, Hackensack University Medical Center has demonstrated more than a century of growth and progress. Today, this not-for-profit, tertiary-care, teaching and research hospital serves as the hub of healthcare for northern New Jersey and the New York metropolitan area. Hackensack University Medical Center continues to grow in response to the needs of its patient population.

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