Sanguine Selects Stuart J. Beebe to the Company's Management Advisory Team
Monday October 22, 6:00 am ET
PASADENA, Calif.--(BUSINESS WIRE)--Sanguine Corporation (OTC Bulletin Board: SGNC), 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, selected Stuart J. Beebe to the Company’s management advisory team.
Mr. Beebe recently served as CEO/President of CNL Retirement Properties, Inc., one of the largest health care REITs in the country. Stuart was directly responsible for all strategic business initiatives, including development, acquisitions, and financing projects for the Company. Under his leadership, CNL Retirement Properties opportunistically acquired and developed, during a 32 month period, 280 properties located in 34 states, valued in excess of 3.5 billion. In October of 2006, he championed the sale of the company to Health Care Properties, the nation's largest healthcare REIT for $5.2 billion. Prior to heading CNL, he served as CFO of CNL Real Estate Group in Orlando for four years, after serving for 15 years as Senior VP for the Florida division of Lincoln Property Company.
Dr. Thomas C. Drees, Ph.D. – President and CEO, commented, “We are excited to have Stuart join our team. His experience in the areas of finance, business development, and acquisition negotiations enhances our ability to execute our previously discussed objectives. Our plan is to grow our company organically by completing the FDA approval of PHER-O2; while in parallel, acquiring a private company(s) whose expertise, management and earnings will enable us to move vigorously toward becoming a world class pharmaceutical company.”
Drees added, “During our development of PHER-02 as a blood alternative, we realized its incredible oxygen carrying capabilities. The total market potential for a FDA approved PHER-O2 is estimated at more than $7 billion in the U.S. alone. This would include both intravenous and ex-vivo applications. Currently we are working toward an ex-vivo 510(K) device FDA approval, with intravenous applications slated for the future. We believe that our product is far superior to any other product currently in the industry and represents a major breakthrough. Utilizing our team of experts, both domestically and within Europe, we look forward to add numerous products that work synergistically with our oxygen carrier.”
For information related to the Sanguine Corporation, contact Investor Relations: Michael Dancy, 801-746-3570, email: medancy@allwest.net, or visit: www.sanguine-corp.com.
Forward-looking statements in this release are made pursuant to the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including without limitation, continued acceptance of the Company’s products, increased levels of competition for the Company, new products and technological changes, the Company’s dependence on third-party suppliers, and other risks detailed from time to time in the Company’s periodic reports filed with the Securities and Exchange Commission.
Contact:
For Sanguine Corporation
Michael Dancy, 801-746-3570 (Investor Relations)
medancy@allwest.net
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Source: Sanguine Corporation
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