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OXYGEN BIOTHERAPEUTICS ISSUES LETTER TO SHAREHOLDERS
Oxygen Biotherapeutics, Inc., (“OBI”) (NASDAQ: OXBT) a developer of oxygen-carrying therapeutics, today announced the Company has issued a Letter to Shareholders.
Highlights of the letter include:
Progress in our international Phase IIb clinical trials of Oxycyte® for the treatment of traumatic brain injury, a global market projected to reach $2 billion by 2017 according to GlobalData
Preliminary results from our preclinical trials of Oxycyte® in the U.S., designed to address the FDA’s clinical hold
Implementation of our business strategy to focus on the development of Oxycyte® for critical indications while out-licensing non-core indications
Improved cash position resulting from a $5.4 million funding closed in July which provides liquidly to fund projected operating requirements and clinical trials through the remainder of fiscal 2014
The U.S. Army and U.S. Navy’s Cooperative Research & Development Agreements to explore Oxycyte®
Out-licensed Dermacyte® cosmetics line to Valor, which has generated licensing revenues and reduced our operating expenses
Our research partnership with Aurum Biosciences for the development of Oxycyte® for the diagnosis and treatment of stroke, a market projected to grow to $3.6 billion by 2015 according to GlobalData
To read the letter in full please visit:
http://www.oxybiomed.com/news_events_full_article_59.htmlAbout Oxygen Biotherapeutics, Inc.
Oxygen Biotherapeutics, Inc. is developing medical products that efficiently deliver oxygen to tissues in the body. The company has developed a proprietary perfluorocarbon (PFC) therapeutic oxygen carrier called Oxycyte
® that is currently in clinical and preclinical studies for intravenous delivery for indications such as traumatic brain injury, decompression sickness and stroke. The company is also developing PFC-based creams and gels for topical delivery to the skin for dermatologic conditions and potentially wound care. In addition, the Company has commercialized its Dermacyte
® line of skin care cosmetics for the anti-aging market. Dermacyte is now out-licensed to Valor Cosmetics of Switzerland.
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. The forward-looking statements are subject to a number of risks and uncertainties, 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 our annual report on Form 10-K filed on June 26, 2013, as well as other filings with the SEC. 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.