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Oxygen signs LOI with Aurum Biosciences

Oxygen Biotherapeutics has signed a Letter of Intent (LOI) with Aurum Biosciences to conduct preclinical research for imaging and therapeutic intervention of acute ischemic stroke.

The preclinical research will be performed by Aurum using Oxygen’s proprietary OxycyteÆ PFC (perfluorocarbon) emulsion with its proprietary Glasgow Oxygen Level Dependent (GOLD) Magnetic Resonance Imaging techniques.

The research focuses to determine the damaged tissue effected from stroke, and to find out the effectiveness of the treatment being provided to the model.

Aurum CEO Gerry McGettigan said the company will work with Oxygen on the development of a novel stroke product.

"Our combined technology and stroke management product may allow us to accurately diagnose acute stroke and treat a majority of the patients effectively," McGettigan said.