Sanguine Corporation is engaged in the development of a synthetic red blood cell product called PHER-O2. The Company claims that his product has an oxygen-carrying capacity but smaller than red blood cells. With this ability, the Company believes that it can be useful in the treatment of heart attacks, strokes and cancer.
PHER-O2 is composed of perfluoro-decalin molecules, or synthetic red blood cells, purified water and a wetting agent, to hold the emulsion together. The Company also believes that use of perfluoro-decalin would be effective as an imaging agent in X-ray imaging, nuclear magnetic resonance imaging and CAT scans, without side effects. The Company estimates that PHER-O2 has several other advantages over human blood: that it can be sterilized to be free of disease; that it has the quality of a universal match for all blood types; that it can be mass-produced; and that it can be stored much longer than human blood.
Shares authorized 100 mil, shares outstanding: 79 mil (OS didn't increase between the last two 10Qs).
May 31, 2005--Sanguine Corp. (OTCBB: SGNC - News), a bio-pharmaceutical company focused on the development of an oxygen-carrying synthetic substitute for human red blood cells and numerous other areas requiring oxygen profusion, has selected, in conjunction with a detailed product analysis by Beckloff Associates LLC, a division of Cardinal Health, the transportation of Islet Cells using PHER-O2 as its primary indication. The oxygen-carrying attribute of PHER-O2, in conjunction with the work completed by previously announced universities, were major contributors to the company's decision. When the FDA approved the first-generation product, FLUOSOL D.A., it was approved for angioplasty. Although the product was approved for angioplasty, there were many thousands of cases where physicians decided to use the product as an oxygen carrier for patients who cannot or will not take blood products.
According to Novo Nordisk (NYSE:NN - News), "Scientists from 12 medical centers performed islet transplants in 86 patients with type 1 diabetes during a 5-year period. They published their findings in September 2004. After 6 months, 61% of patients were no longer taking insulin. At 1 year, 58% were still not taking insulin."
Dr. Thomas C. Drees, Ph.D., president and CEO, remarked, "Our company is extremely excited to pursue an FDA indication using PHER-O2 in conjunction with the transportation of islet cells. I am personally a diabetic. I truly understand that any effort to relieve the world of this rapidly growing condition is extremely important. On March 14, 2005, the LA Times published an interview of Dr. James Shapiro of the University of Alberta, where it was written that there are a small number of donor pancreases available each year. Also, the fragile islet cells culled from cadaver organs can be severely damaged from cold storage or by the drugs given to recipients to prevent rejection; the pancreas itself can be damaged. As a consequence, most islet transplants require two to four donor pancreases to produce enough cells for the recipient to become insulin independent. Our goal, with pursuing this indication, would be to significantly increase the viability of transplant cells, thus increasing the number of islet cells available for successful transplantation. "