BOCA RATON, Fla., Dec. 2, 2014 (GLOBE NEWSWIRE) -- FluorO2 Therapeutics, a newly formed US company, wants to change the world.
FluorO2 Therapeutics owns the licensing rights and intellectual property to Perftoran®, a perfluorocarbon nanoemulsion approved as a blood substitute in four countries. Perftoran has been given to approximately 30,000 people, with good results.
There is an annual shortage of almost 200 million units of blood worldwide. In many countries, friends and family are called on to give blood but it often doesn't arrive in time. This product could change that. In addition, the use of artificial blood virtually eliminates the possibility of viral transmission, which still occurs in parts of the world where screening of blood donors is inadequate, and artificial blood does not need to be matched to blood type, saving precious time and resources.
FluorO2 Therapeutics is a spin-off of the British company Perftoran West Limited. It was established in the US in order to globalize, expand use of the product within countries where it is already approved, and conduct research in other indications to expand the product labeling beyond blood substitute. In order to accomplish these goals, the company will now be manufacturing their raw materials and final product in the United States, at GMP-compliant facilities.
The company is rebranding their product as VIDAPHOR, which means life-bearing. "We believe this new name better conveys what our product is all about," said Anthony Flores, DVM, PhD, the company's head of preclinical research.
The company is seeking to raise a $5MM investment. With this funding, the company will begin manufacturing product in the US that can be sold in Mexico once it is newly registered as VIDAPHOR. The company estimates having product sales 12 to 14 months after receipt of funding. Mexico is short an estimated 2.4 million units of blood every year and desperately needs a blood substitute. The company then plans to expand into Latin America, focusing on countries that have mutual recognition agreements with Mexico. Future plans also include initiating studies needed to obtain marketing approval in the US.
"Perftoran is safe, efficacious, and reduces the need for allogeneic blood and blood derivatives in patients undergoing cardiac surgery," says Adolfo Chávez-Negrete, MD, PhD in the article titled Perftoran emulsion to decrease allogeneic blood transfusion in cardiac surgery: clinical trial [Artificial Cells, Blood Substitutes and Biotechnology 2006;34(4):433-54]
The financial value of the global market for whole blood exceeds $7 billion USD. Interested investors are asked to contact the company.
CONTACT: Deborah Thompson Chief Scientific Officer & President firstname.lastname@example.orgSource: FluorO2 Therapeutics