NOW I SEE! NEWS!!!
Synthetic Blood International Announces Product Development, Marketing Agreement
Business Wire - August 06, 1998 14:14
KETTERING, Ohio--(BW HealthWire)--Aug. 6, 1998--Synthetic Blood International Inc. (OTCBB:SYBD) announced today that it will sign a letter of intent to enter into an agreement with Chi Sheng Chemical Corp., a leading pharmaceutical company in Taiwan.
The agreement will cover product development and marketing for Oxycyte(TM), the company's perfluorocarbon-based blood substitute.
Chi Sheng markets a full range of pharmaceuticals and is the largest manufacturer of large volume parenteral solutions in Taiwan. The company recently opened a manufacturing facility for parenteral nutritional emulsions and, therefore, has the capability to manufacture Oxycyte once the manufacturing process has been adapted to their equipment.
"This is an exciting development which represents the first step toward implementing our Far East marketing strategy," said Dr. Robert Tao, SYBD's agent for Far East partner recruitment, who will negotiate the agreement with Chi Sheng. "Because of their experience and capabilities, we believe that Chi Sheng is uniquely qualified and is the right partner for Oxycyte in Taiwan."
Tao, a native of Taiwan, is an expert in emulsion formulation and production with more than 25 years experience in pharmaceutical development and manufacturing in the U.S., Switzerland and the Far East. During the last four years with Lipoid Co., Ltd, of Kowloon, Hong Kong, he developed business relations with many pharmaceutical companies in the region.
"We believe this development will culminate in an Oxycyte licensing agreement for Taiwan between our Company and Chi Sheng." said Robert Nicora, president.
In addition to developing Oxycyte, the company is developing Fluorovent(TM), a perfluorocarbon liquid ventilation product; and an implanted biosensor for continuously monitoring blood glucose levels in diabetics.
SYBD is located in Kettering, Ohio and has a West Coast office in Irvine, Calif. The company's stock is traded on the OTC Electronic Bulletin Board, symbol SYBD.
CONTACT: Synthetic Blood International, Inc.
Joan Mahan, 800/809-6054 |
