Wednesday March 29 9:30am
Source: BusinessWire
PASADENA, Calif.--(BUSINESS WIRE)--March 29, 2000---Sanguine Corp. (OTC BB: SGNC) Wednesday announced an agreement which signed retired Rear Admiral Merton Dick Van Orden as the chief operating officer and a board of directors member.
Reporting to Chairman and Chief Executive Officer Dr. Tom Drees, Admiral Van Orden will be responsible for operations relating to the animal studies to be conducted by Battelle Memorial Institute followed by human trials leading to approval by the FDA.
Second priority, but on a parallel path, Admiral Van Orden will manage new business development; all business related negotiations (blood products or otherwise); all negotiations related to Battelle Memorial Institute or the Office of Navel Research (ONR).
The Medical Advisory Board will report directly to Admiral Van Orden whereby he will meet the group on a periodic basis to develop a steering committee focused on prioritizing the work needed to "Fast Track" FDA approval of PHER-O2 as a second generation to the only FDA approved blood substitute.
Additionally, the Medical Advisory Board will focus on the development of other FDA approved and non-FDA approved medical applications for the PHER-O2 molecule.
Admiral Van Orden is a graduate of the U.S. Naval Academy, and also holds degrees from M.I.T. (BSEE), and The George Washington University (MBA). He served 34 years in the U.S. Navy with combat service aboard an aircraft carrier in the Pacific. He then became an Engineering Duty Officer leading to positions primarily in research and development activities.
He was commanding officer of a major Navy Electronics Laboratory, and was appointed the Chief of Naval Research, commanding ONR, the Navy's primary research organization, with a total force of some 5,000 scientists and engineers and three research laboratories, including the famous Naval Research Laboratory (NRL).
Following retirement from active Navy service, Admiral Van Orden has been employed as a management and scientific consultant, and serves on boards of directors of a number of technically oriented companies.
He has served as the Research Director for the Paralysis Cure Foundation, later the American Paralysis Association, and as President of the Surgical Research Foundation and has over 20 scientific publications in his name.
Sanguine Corp. will produce an artificial blood, as its core product, that can be administered at room temperature with a shelf life of three years. The use of the Sanguine perfluorocarbon product as a blood substitute eliminates the need for type and cross matching, and the fear of contamination from AIDS or Hepatitis viruses.
In addition, the Sanguine molecule is 1/900th the size of a human red blood corpuscle (rbc) and can despite its size deliver three to four times the amount of oxygen, as well as remove CO2 in a similar fashion to human red blood cells.
Its small size as compared to an rbc permits PHER-O2 to readily bypass vascular obstruction to deliver oxygen to occluded vessels to restore or maintain tissue viability, which is not possible with normal blood substitution. PHER-O2 provides advantages for the treatment of shock, ischaemia (stroke, peripheral vascular or coronary disease).
Its ready availability and long shelf life provide an ideal blood substitute that can be stored for use, where type and cross matching is not possible and where disasters, battle causalities, earthquakes, explosions, automobile accidents, drowning and carbon monoxide poisoning, require immediate oxygenated blood replacement. |
