Healthcare Industry News: non-healing wounds
News Release - September 12, 2008
Oxygen Biotherapeutics, Inc. Names Robert F. Diegelmann to Lead New Wound Care DivisionCOSTA MESA, Calif.--(HSMN NewsFeed)--Oxygen Biotherapeutics, Inc. (OTCBB:OXBO ) today announced that Dr. Robert F. Diegelmann, PhD will become the head of the new wound care division being established by the company. The new division’s first priority will be to develop over-the-counter wound treatment applications for Oxycyte®. Oxycyte is the company’s perfluorocarbon (PFC) therapeutic oxygen carrier.
Diegelmann is a tenured professor of biochemistry & molecular biology, anatomy and emergency medicine at Virginia Commonwealth University Medical Center who has worked with Oxycyte and understands its potential in wound care.
“I view Bob Diegelmann as VCU’s wound care guru and I’m thrilled that he has contracted with us to be in charge of getting our topical and clinical wound indications to market,” said company chairman and CEO Chris J. Stern, DBA. “Several months ago we signed an agreement to license intellectual property from VCU that will allow our company to develop novel products with Oxycyte in combination with hydrogen peroxide. There is a huge potential market just in topical indications for Oxycyte. For example, according to the National Institute of General Medical Sciences, more than 36 million topical wounds are treated every year. That doesn’t count burns and other clinical wound treatment indications. We believe the IP, especially with Bob Diegelmann’s guidance, can lead to revolutionary wound treatment indications and devices. The wound care product market is projected to reach $12.5 billion by 2012. The potential products could add immense value to the company and its future.”
“Certainly the combination of our novel oxygen-generating system coupled with the Oxycyte technologies can have positive effects on wounds and burns,” said Diegelmann. “I see us as going after the low-hanging fruit of over-the-counter topical indications as medical devices first and then seeking partners for the development for more complex indications such as chronic, non-healing skin ulcers and burns. As the population ages the incidence of complex non-healing wounds is increasing.”
Said Stern, “This latest development is an important stepping stone of our new strategy to have several pillars for our business. Traumatic Brain Injury is still our main focus because of its market need and subsequent multi-billion dollar market potential. Wound and burn care however have a similar potential yet a much faster road to market due to the fact that many potential indications will be medical devices, and not drugs. This diversification will help us to become a sustainable company with a product portfolio broad enough to eventually generate income and finance our own growth.”
About Oxygen Biotherapeutics, Inc.
Oxygen Biotherapeutics, Inc. is dedicated to commercializing innovative pharmaceuticals and medical devices in the field of oxygen therapeutics and continuous substrate monitoring. The Company has under development a perfluorocarbon therapeutic oxygen carrier and liquid ventilation product and an implantable glucose sensor. These products are based upon core technologies that include biomedical applications for PFCs and medical and industrial applications for biosensors. Each of the product candidates is designed with advantages over currently marketed products in major markets including acute respiratory distress syndrome, stroke, myocardial infarction, surgery, trauma, malignant tumors and diabetes. For further information, visit www.oxybiomed.com.
Caution Regarding Forward-Looking Statements
This news release contains certain forward-looking statements by Oxygen Biotherapeutics, Inc. that involve risks and uncertainties and reflect the company's judgment as of the date of this release. These statements include predictions about plans for the company’s new wound care division, potential new products for over-the-counter and topical wound care treatment, potential new products for clinical wound treatment and for burns, estimates of the size of those markets, estimates of the size of the Traumatic Brain Injury market, the potential income and benefits derived from product diversification. Actual events or results may differ from Oxygen Biotherapeutics, Inc.'s expectations. There can be no assurance that any of the mentioned products will be successfully developed for any of the target indications or that Oxycyte or any company product will be approved for market by the FDA for any indications. Nor can there be any assurance that even if they receive required regulatory approval to be marketed that they will be accepted or be successful or that any company product will attain meaningful market share or generate any net income for the company. Additional information concerning these and other risk factors affecting Oxygen Biotherapeutics, Inc.'s business can be found in the company's public periodic filings with the Securities and Exchange Commission, which are available via www.oxybiomed.com. Oxygen Biotherapeutics, Inc. 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.
Source: Oxygen Biotherapeutics
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