HyperBaric Systems Raises Funds To Complete Testing
siliconinvestor.com
PALO ALTO, CA, Jul 31, 2001 (INTERNET WIRE via COMTEX) -- HyperBaric Systems (OTC/BB: HYRB chart, msgs) announced that it has recently raised more then $690,000 from private investors to complete validation testing now underway for its refrigerated blood platelet preservation technology.
"The independent validation is important to HyperBaric Systems because it will provide the necessary data to support our application for FDA approval," said Harry Masuda, company CEO.
"This is also a crucial step in securing a strategic partner who has the ability to manufacture and market our product to blood centers and hospitals worldwide," added Bob Strom, V.P. Sales and Marketing, for the company.
Platelets, the congealing component of blood, are currently stored at room temperature for up to five days and are vulnerable to bacterial growth and loss of functionality over time. In Japan the legally allowed storage period is only three days.
HyperBaric System's technology to refrigerate platelets for ten days will give blood centers more time to test, ship platelets to needed regions, reduce outdating, and minimize bacterial growth, a serious problem for hospitals and blood banks.
The Center For Blood Research in Sacramento is independently conducting the tests to validate and substantiate the recovery of viable platelets from cold storage, utilizing HyperBaric's proprietary technology.
Certain statements contained herein are ``forward-looking'' statements (as such term is defined in the Private Securities Litigation Reform Act of 1995). Because such statements include risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause results to differ materially from those expressed or implied by such forward-looking statements include, but are not limited to, those discussed in filings made by the Company with the Securities and Exchange Commission. |
