Oxygen Biotherapeutics collaborates with U.S. Navy to develop treatment for DCS

Oxygen Biotherapeutics, Inc. (Nasdaq:OXBT) (SIX Swiss Exchange:OXBT) today announced it has entered into a Cooperative Research and Development Agreement (CRADA) with the U.S. Naval Medical Research Center (NMRC) to conduct preclinical trials to assess the safety and efficacy of Oxygen Biotherapeutics' proprietary Oxycyte perfluorocarbon emulsion (PFCE) for the prevention and treatment of decompression sickness and related injuries.

Previously, the Company signed a limited purpose CRADA for equipment and material transfer with the NMRC and Walter Reed Army Institute of Research for an investigational new drug application to use Oxycyte PFCE in treating DCS. Recently published results from U.S. Navy studies demonstrated decreased mortality in porcine animal models that were given an intravenous dose of Oxycyte PFCE after the onset DCS. These results showed a statistically significant decrease in mortality compared with the control group that did not receive Oxycyte PFCE. This data was published in the June issue of Aviation Space and Environmental Medicine.

"We look forward to continuing our collaboration with the U.S. Navy to develop a safe and effective treatment for DCS. We believe this new CRADA validates the potential of Oxycyte for this possible indication," said Dr. Gerald Klein, Chief Medical Officer of Oxygen Biotherapeutics.