Biopharmaceutical company Sanguine Corp. develops products for biomedical and medical device applications. The company today announced a “significant” purchase order from Virginia Commonwealth University (VCU) for PHER-O2, Sanguine’s ultra-oxygen carrying perfluorocarbon-based product. Shares of SGUI soared 30 percent to $.39 on word of the purchase.
VCU is nationally recognized for its research in groundbreaking work using perfluorocarbons (PFCs); applications of perfluorocarbons include eye surgery, imaging, liquid ventilation, artificial blood and treatment of decompression sickness, as well as various other non-medical applications.
VCU contracts are part of several current U.S. Federal Government funded projects, and are backed by millions of dollars in aggregate project funding; additional projects are currently in various phases to obtain grant funding. Sanguine said it will serve as the exclusive supplier to these projects, and that it plans to negotiate partnership in the near future.
Frank Marra, a Sanguine spokesperson, said the partnership with VCU reflects Sanguine’s efforts to strengthen and quicken its growth, and said he anticipates the collaborative research of both entities to open the door for treatment methods.
“As a result of our approach, begun last year, to accelerate our growth through strategic and targeted development alliances, we are extremely excited about our relationship with VCU. Under Dr. Bruce Spiess’ leadership, VCURES’ team is considered to be at the forefront of the world’s experts in research and development of innovative and novel pefluorocarbon-based solutions to a number of critical diseases and injuries. The research to be conducted with the PHER-O2 is expected to significantly advance the market acceptance of PFCs and lead to many important products and treatment methods for critical diseases and injuries,” Marra stated in the press release.
Researchers at the VCU Reanimation Engineering Shock Center (VCURES) are conducting pre-clinical trials, including: Neurological Events (Traumatic Brain Injury (TBI), Traumatic Spinal Cord Injury, Stroke); Organ Preservation (Cardioplegia, Heart Transplant, Liver Preservation, Kidney Transplant, Islet Cell Preservation); and Intravenous Enhanced Oxygen Delivery (Multifunctional Resuscitation Solutions, Sickle Cell Crisis, Carbon Monoxide Poisoning, Cardiopulmonary Resuscitation).
For more information visit www.sanguine-corp.com