COSTA MESA, Calif. & PLANT CITY, Fla.--(BUSINESS WIRE)--Jan. 10, 2006-- Synthetic Blood International, Inc. (OTCBB:SYBD), a development stage company dedicated to commercializing innovative pharmaceuticals and medical devices in the field of oxygen therapeutics and continuous substrate monitoring, and UTEK Corporation (AMEX:UTK) (LSE-AIM:UTKA), an innovative technology transfer company, announced today the signing of a strategic alliance agreement. Under the terms of this agreement, UTEK will seek to identify and facilitate the licensing of technologies and intellectual property to Synthetic Blood in the areas of therapeutic oxygen delivery and biosensors. "We believe this strategic alliance will assist us in identifying relevant technologies being developed at academic institutions and research facilities that will expand our technology base," said Robert Nicora, President and Chief Executive Officer of Synthetic Blood. "It will also enable us to establish valuable research alliances with top-ranked universities." "UTEK looks forward to working with Synthetic Blood by identifying and assisting with the transfer of proprietary technologies that will be synergistic with its core business," said William Porter, Chief Technology Transfer Officer of UTEK. Through its strategic alliance agreements, UTEK assists companies in enhancing their new product pipeline with the acquisition of proprietary intellectual capital from universities and laboratory research centers. Strategic alliance agreements are generally cancelable by either party with thirty days advance written notice.
About Synthetic Blood International, Inc.
Synthetic Blood is dedicated to commercializing innovative pharmaceuticals and medical devices in the field of oxygen therapeutics and continuous substrate monitoring. Synthetic Blood has under development a blood substitute and therapeutic oxygen carrier, Oxycyte(TM), a liquid ventilation product, and an implantable glucose sensor. These products are based upon core technologies that include biomedical applications for perfluorocarbons and medical and industrial applications for biosensors. Each of the product candidates is designed with advantages over currently marketed products in major markets including acute respiratory distress syndrome, stroke, myocardial infarction, surgery, trauma, malignant tumors and diabetes. Synthetic Blood plans to complete two Phase II pilot studies with Oxycyte(TM) later this year. For further information about Synthetic Blood, please visit its website at http://www.sybd.com.
About UTEK Corporation
UTEK(R) is a leading, market-driven technology transfer company that enables companies to rapidly acquire innovative technologies from universities and research laboratories worldwide. UTEK facilitates the identification and then finances the acquisition of external technologies for clients in exchange for their equity securities. This unique process is called U2B(R). In addition to its U2B(R) service, UTEK offers both large and small capitalization companies the tools to search, analyze and manage university intellectual properties. UTEK has operations in the United States, United Kingdom and Israel. For more information about UTEK, please visit its website at http://www.utekcorp.com.
Forward-Looking Statements
Certain matters discussed in this press release are "forward-looking statements." These forward-looking statements can generally be identified as such because the context of the statement will include words, such as UTEK or Synthetic Blood "expects," "should," "believes," "anticipates" or words of similar import. Similarly, statements that describe UTEK's or Synthetic Blood's future plans, objectives or goals are also forward-looking statements. Such forward-looking statements are subject to certain risks and uncertainties, including the financial performance of UTEK or Synthetic Blood, as appropriate, and the valuation of UTEK's investment portfolio, which could cause actual results to differ materially from those currently anticipated. Although UTEK and Synthetic Blood believe the expectations reflected in any forward-looking statements are based on reasonable assumptions, they cannot give any assurance that their expectations will be attained. Shareholders, potential investors and other readers are urged to consider these factors carefully in evaluating any forward-looking statements. Certain factors could cause results and conditions to differ materially from those projected in these forward-looking statements, and some of these factors are discussed below. These factors are not exhaustive. New factors, risks and uncertainties may emerge from time to time that may affect the forward-looking statements made herein. These forward-looking statements are only made as of the date of this press release and both UTEK and Synthetic Blood do not undertake any obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances. UTEK's operating results could fluctuate significantly due to a number of factors. These factors include the small number of transactions that are completed each quarter, the value of individual transactions, the timing of the recognition and the magnitude of unrealized gains and losses, UTEK's dependence on the performance of companies in its portfolio, the possibility that advances in technology could render the technologies it has transferred obsolete, the loss of technology licenses by companies in its portfolio, the degree to which it encounters competition in its markets, the volatility of the stock market and the volatility of the valuations of the companies it has invested in as it relates to its realized and unrealized gains and losses, the concentration of investments in a small number of companies, as well as other general economic conditions. As a result of these and other factors, current results may not be indicative of UTEK's future performance. For more information on UTEK and for a more complete discussion of the risks pertaining to an investment in UTEK, please refer to UTEK's filing with the Securities and Exchange Commission.
KEYWORD: NORTH AMERICA CALIFORNIA FLORIDA UNITED STATES INDUSTRY KEYWORD: TECHNOLOGY HARDWARE SOFTWARE HEALTH BIOTECHNOLOGY CLINICAL TRIALS MEDICAL DEVICES PHARMACEUTICAL RESEARCH & SCIENCE CONTRACT/AGREEMENT SOURCE: UTEK Corporation
CONTACT INFORMATION: Synthetic Blood International, Inc., Costa Mesa Robert Nicora, 800-809-6054 or Investor Contact: Lippert/Heilshorn & Associates Jody Cain or Brandi Floberg, 310-691-7100 or UTEK Corporation (USA) Tania Bernier, 813-754-4330 x223 or Bankside Consultants (UK) Steve Liebmann or Susan Scott, +44 (0)20-7367-8888
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