Point being? Bzzzzzztt. Next question Alex........
Thursday June 18, 9:30 am Eastern Time
Company Press Release
Sanguine Contract With Battelle Completed and Funding in Place for the Development of Blood Substitute
PASADENA, Calif.--(BUSINESS WIRE)--June 18, 1998--Sanguine Corp. (OTC BB:SGNC) and Battelle Memorial Research Institute Thursday announced that a completed contract has been signed and that the funding is now in place for animal testing of emulsions for use as oxygen-carrying blood substitutes.
Battelle, the world's oldest and largest independent contract research group of scientists, engineers, and other specialists, has provided research since 1994 in support of Sanguine's efforts to develop, manufacture and market a proprietary synthetic red blood cell substitute.
According to Dr. Thomas C. Drees, president and chief executive officer of Sanguine Corp., ''Sanguine estimates the annual worldwide market potential for this product at $20 billion. In the United States alone nearly everyone who reaches the age of 75 will need blood, plasma, or one of their components at least once in his lifetime.''
Drees, who has been in the forefront of the artificial blood products field for more than 20 years, was the president and CEO of the only company to have obtained FDA approval for a synthetic blood product to date.
--------------------------------------------------------------------------------
Contact:
mklpr, Salt Lake City
Mary Kay Lazarus, 801/328-8899 |
