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Sanguine Corporation: Sanguine Corp Announces Letter of Commitment to License PHER-O2 to Rockland Technimed

^{Published on 2009-03-12 07:02:24, Last Modified on 2009-03-12 07:03:24 - Market Wire}
 

PASADENA, CA--(Marketwire - March 12, 2009) - Sanguine Corporation (OTCBB: [ SGUI ]) is pleased to announce that the Company has signed a Letter of Commitment to license its PHER-O2 technology to Rockland Technimed Ltd. (Technimed), for a collaborative effort to significantly enhance stroke and tumor diagnosis and treatment. Technimed's revolutionary MRI Imaging technology and product Oxy-17® effectively renders an unaltered MRI scanner into a PET, PET/CT like metabolic imager using innovative, ultra pure Oxygen, isotopically enriched and naturally occurring in atmospheric air, delivered to target tissue of interest. The ability to follow cellular respiration in real-time using an unaltered MRI in these patients is a paradigm shift in the management of these patients.

Rockland Technimed's focus in MRI imaging is providing applications in tumor detection, tracking tumor angiogenesis, assess tissue viability in cases of Neurological and Cardiovascular catastrophes such as Heart or Stroke attack, or other tissue injury, and noninvasive real-time tissue stress monitoring to evaluate normal and abnormal oxygen consumption rates.

As part of the agreement, Sanguine agrees to license the technology and know how for PHER-02 to Rockland for use and further development by Rockland Technimed Ltd. in conjunction with its imaging technology.

Dr. Thomas Drees, Sanguine's CEO, stated, "We announced late last year that we were in discussions to merge Rockland Technimed with Sanguine. However, due to overall market and economic conditions, we felt that the merger should be put on hold for now. However, during the last several months, both Technimed and Sanguine management conducted due diligence on each other's company and products. And, as a result of this due diligence, it appears that PHER-02 and Oxy-17® could prove to be an excellent combination for both the diagnosis and treatment of many different critical diseases and conditions, including stroke and tumor identification and, eventually, therapy. We concluded that the best way to move both technologies and products ahead was to enter into a licensing arrangement that will accomplish that. Our team feels that a relationship with Rockland Technimed provides us with a unique opportunity to move the Company's focus of PHER-O2 into intravenous use."

Pradeep Gupte, CEO of Rockland Technimed, added, "We have been looking for a product such as PHER-02 for some time to enhance our Oxy-17® in assessing tissue viability. We strongly believe that after further testing, incorporating of the products will result in significantly improving Oxy-17® as a ready-to-use injectable imaging media, and thus potentially providing a new standard of care for healthcare delivery and outcomes. While the overall indications for Oxy-17® are vast, we intend to initially focus on stroke (CVD) and oncology as we believe that these areas are the most pressing. It is our goal to be able to indisputably diagnose stroke in real time and, eventually, be able to prolong the three hour treatment window to twelve."

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.