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Biotech / Medical : SANGUINE CORP. (SGNC) -- Ignore unavailable to you. Want to Upgrade?

To: Rusty who wrote (5349)	5/24/2000 2:00:00 PM
From: E'Lane	Respond to of 5402

Rusty...as posted earlier on this thread... Message 13484083 & Monday May 1, 9:32 am Eastern Time Company Press Release I had thought that they had received funding. Sanguine Corp. Announces That It has Engaged a New York-Based Investment-Banking Firm for an Excess of $11 Million in Funding. Are they still planning to do animal testing and when Includes Immediate Bridge Funds to Enable Planning of the Animal Trials With Battelle Memorial Institute PASADENA, Calif.--(BUSINESS WIRE)--May 1, 2000-- Sanguine Corp. (OTC BB: SGNC - news) Monday announced an agreement with an undisclosed New York-based firm for an excess of $11 million in funding for FDA testing of its PHER-O2 blood substitute product. The funds include immediate capital to enable Sanguine corporate management and Battelle Memorial Institute to finalize the details associated with the animal trials of its PHER-O2. The structure of the $11 million was not disclosed; however, because PHER-O2 is the only second-generation blood substitute to enter into animal trials, though not yet deemed ``Fast Track,'' Sanguine's executive management felt it was prudent to secure phased funding necessary to parallel a ``Fast Track'' approval process as allowed by the FDA. The funding was phased by the agreement with the New York firm to enable Sanguine Corp.'s continued development with a maximum potential for shareholder value. The initial phase of the $11 million is expected to be completed shortly with additional information available within the next three weeks. The New York firm has a significant international presence with several offices in Western Europe and Southeast Asia. The firm's interests provides Sanguine with substantial opportunity to enter its PHER-O2 into international clinical trials in addition to key potential international markets for the gamut of products which may be developed using the oxygen carrying mechanism principle of the PHER-O2 molecule. Notice: This news release contains, and oral statements made from time to time by company representatives concerning the information contained herein may contain, so-called ``forward-looking statements.'' These statements can be identified with introductory words such as ``expects,'' ``plans,'' ``will,'' ``estimates,'' ``forecasts,'' ``projects'' or words of similar meaning, and by the fact that they do not relate strictly to historical or current facts. Forward-looking statements frequently are used in discussing the company's growth strategy, operating and financial goals, regulatory submissions and approvals and development programs. Many factors may cause actual results to differ from the company's forward-looking statements, including inaccurate assumptions and a broad variety of risks and uncertainties, some of which are known and others of which are not. No forward-looking statement is a guarantee of future results or events, and one should avoid placing undue reliance on such statements. This news release shall not be deemed to be an offering for these securities. -------------------------------------------------------------------------------- Contact: Sanguine Corp., Pasadena Thomas C. Drees, 626/405-0079 Fax: 626/405-1041 ~~~~~~~~~~~~~~~~~~ You would think that such a needed product, that this would be going full speed ahead Agreed. . Makes you start to wonder, what is wrong, with all the delays and waiting without any updates. I guess my "mutt and jeff" post was addressing the issue of the stock not moving in the face of good news. I misunderstood your question. I don't think anyone here knows "what the hold up" is. There is a "contact person" on the bottom of that pr...give them a call. Let us know what you find out. TIA Have a good day... Mutt