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Oxygen Biotherapeutics Relocating R&D Function to North Carolina from California

Oxygen Biotherapeutics (NASDAQ: OXBT) announced today that it is searching for laboratory space in the Research Triangle Park region of North Carolina. Beginning in September, the company will be consolidating its operations and relocating its research and development function to North Carolina from Costa Mesa, CA. In making the announcement, the company reported that it successfully subleased its Costa Mesa facility at terms that made the transition cost effective.

“North Carolina has the business climate, facilities and creative talent we need to help push our programs forward. Relocating R&D to North Carolina has been under consideration for quite some time however, the recession strongly impacted the real estate market in southern California thereby preventing us from subletting the facility and making the transition sooner. We are excited about bringing this important function closer to our headquarters,” said Michael Jebsen, President and Chief Financial Officer.

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