DALLAS (PRWEB) August 13, 2007
HemoBioTech is developing what could be the world's first viable substitute for human blood--HemoTech--exclusively licensed from Texas Tech University Health Sciences Center. Previous efforts by other companies to develop a human blood substitute during the past 35 years have failed because of toxicity issues. On the other hand, the HemoBioTech strategy has been to identify and nullify the source of toxicity, resulting in HemoTech, which is expected to be compatible with all blood types and has a shelf life of 180+ days compared to 42 days for donated human blood. HemoTech's apparent lack of toxicity is believed to be due to HemoBioTech's proprietary chemical modification of hemoglobin. HemoBioTech believes the use of bovine blood provides an additional advantage over products developed from outdated human red blood cells or from perfluorochemicals (PFCs), as bovine blood is more readily available and could be more cost-effective to use. Also, in the limited clinical testing HemoTech did not show the vasoconstriction and inflammatory toxicities that have hampered competitors.
The luncheon keynote address will be given by Laura Linehan, Director of Creative Research for Mario Gabelli's GAMCO Westwood Mighty Mites Fund, which owns more than 200 "up and coming" emerging growth stocks with market caps under $300 million in micro- and small-cap investments.
About HemoBioTech, Inc.
HemoBioTech is engaged in the development of HemoTech, a novel human blood substitute technology exclusively licensed from Texas Tech University Health Sciences Center. HemoTech is composed of bovine hemoglobin that is chemically modified with ATP, adenosine and GSH. HemoTech not only can carry oxygen in the blood, but can also induce erythropoiesis (red blood cell production). The Company believes that HemoTech, due to its novel structure, may possess properties that diminish the intrinsic toxicities which have plagued other attempts at developing blood substitutes, based upon pre-clinical and initial human clinical trials undertaken outside the U.S. by prior holders of this technology. HemoTech is being subjected to further studies and testing to confirm and possibly expand on these results. HemoTech is being developed to help reduce or eliminate the danger resulting from acute blood loss in trauma, as well as for other conditions. Corporate headquarters are located at 5001 Spring Valley Road, Suite 1040-West, Dallas, Texas 75244. For further information contact Dr. Arthur Bollon at 972-455-8950 or firstname.lastname@example.org. Company website is http://www.hemobiotech.com.
Safe Harbor Statement
Except for historical information, the matters discussed in this news release may be considered "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such statements include declarations regarding the intent, belief or current expectations of HemoBioTech and its management and are valid only as of today, and we disclaim any obligation to update this information. These statements are subject to known and unknown risks and uncertainties that may cause actual future experience and results to differ materially from the statements made. Factors that might cause such a difference include, among others the successful pre-clinical development, the successful completion of clinical trials, the FDA review process and other governmental regulation, pharmaceutical collaborator interest and ability to successfully develop and commercialize drug candidates, competition from other pharmaceutical companies, product pricing and third party reimbursement, and other factors which are included in HemoBioTech's Annual Report on Form 10-KSB for the year ended December 31, 2006, as amended, and HemoBioTech's other reports filed with the Securities and Exchange Commission.