Oxygen Biotherapeutics, Inc., (“OBI”) 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/investors.html
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