SOURCE: HemoBiotech

HemoBiotech

August 17, 2009 08:38 ET

HemoBioTech Gains Congressional Recognition of Its Blood Substitute Technology

Helps Forge Coalition of Small Biotechnology Firms to Gain Congressional Support

DALLAS, TX--(Marketwire - August 17, 2009) - HemoBioTech, Inc. (OTCBB: HMBT) has been working with a coalition of small biotechnology firms to implement legislation that will strengthen the Federal government's stewardship role in the protection and preservation of pre-revenue biotechnology companies.

In addition, the HemoBioTech's blood substitute technology recently gained support from the office of Rep. Edolphus Towns of New York, whose office circulated a letter to House Members addressing the urgent need for a blood substitute to prevent HIV AIDS from HIV contaminated blood, especially in the world's poorest nations. Cited in the letter is the use of hemoglobin modified with adenosine as a viable blood substitute. Adenosine modified hemoglobin is a fundamental feature of HemoTech which is being developed by HemoBioTech as the first viable blood substitute and is patented in 21 countries. Congressman Towns also supports an investment of $35 million and a proposal to work with the FDA to fast tract the development of the technology. The full letter follows this release.

"Congressional recognition is critical as HemoBioTech advances through the development of HemoTech, its adenosine modified hemoglobin blood substitute," said HemoBioTech's Chairman and CEO, Arthur P. Bollon, Ph.D. "We look forward to working with Congressman Towns and other members of Congress in implementing these proposals."

About HemoBioTech, Inc.

HemoBioTech is engaged in the commercial development of HemoTech, a novel human blood substitute technology developed by Texas Tech University Health Sciences Center scientists, Drs. Mario Feola and Jan Simoni. HemoTech is exclusively licensed by HemoBioTech from Texas Tech University System. HemoTech is composed of bovine hemoglobin that is chemically modified with ATP, Adenosine and GSH.

Researchers believe that HemoTech carries oxygen in the blood, and induces erythropoiesis (red blood cell production). The Company believes that HemoTech, due to its novel chemical structure, may possess properties that diminish the intrinsic toxicities that have plagued other attempts at developing blood substitutes, based upon pre-clinical and initial human clinical trials undertaken outside the U.S.

HemoTech is being subjected to further studies and testing to confirm and possibly expand on these initial results. HemoTech is being developed to help reduce or eliminate the danger resulting from acute blood loss in trauma, anemia, as well as for other conditions. HemoTech is an investigational biological drug that has not been approved by the U.S. Food and Drug Administration and cannot currently be marketed. Corporate headquarters are located at 5001 Spring Valley Road, Suite 1040-West, Dallas, Texas 75244.

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-K for the year ending December 31, 2007, as amended, and HemoBioTech's other reports filed with the Securities and Exchange Commission.

Contact Information

  • Contact:

    HemoBioTech, Inc.
    Arthur P. Bollon, PhD
    972-455-8955
    Chairman & CEO
    Email Contact


    David Sheon
    WHITECOAT Strategies
    202 547-2880
    Email Contact