DALLAS, Nov. 11 /PRNewswire-FirstCall/ -- HemoBioTech announced that quotations for its common stock commenced on the OTCBB on November 10, 2005. The closing price of the common stock on such date as reported by the OTCBB was $1.22.
“We are delighted about this milestone for the company and excited about continuing development of our novel substitute for human blood, HemoTech(TM), which also induces red blood cell formation,” stated Dr. Arthur P. Bollon, Chairman and Chief Executive Officer of HemoBioTech.
Dr. Bollon further stated, “Our goal is to address an increasing need for a safe and cost effective human blood substitute in the United States and around the world.”
About HemoBioTech, Inc.
HemoBioTech is engaged in the development of HemoTech(TM), a novel human blood substitute technology exclusively licensed from Texas Tech University Health Science Center. HemoTech(TM) is a chemically modified hemoglobin which not only carries oxygen in the blood, but can also induce red blood cell production. The Company believes that HemoTech(TM) may possess properties that diminish the intrinsic toxicities which have plagued other attempts at developing blood substitutes, based upon pre-clinical and initial human clinical trials undertaken outside the U.S. by prior holders of this technology. HemoTech(TM) is being developed to help reduce or eliminate the danger resulting from acute blood loss in trauma, as well as for other conditions. Corporate headquarters are located at J. P. Morgan International Plaza, 14221 Dallas Parkway, Suite 1500, Dallas, Texas 75254. For further information contact Dr. Arthur Bollon at 214-540-8411 or arthurb@flash.net . The Company website is http://www.hemobiotech.com .
Except for historical information, the matters discussed in this news release may be considered “forward-looking” statements. Such statements include declarations regarding the intent, belief or current expectations of HemoBioTech and its management. The words “believes”, “expects”, “anticipates”, “estimates”, and similar words or expressions are generally intended to identify forward-looking statements. You are cautioned that any such forward-looking statements are not guarantees of future performance and involve a number of risks and uncertainties that could materially affect actual results. Such risks and uncertainties are identified in HemoBioTech’s reports and registration statements filed with the Securities and Exchange Commission.
HemoBioTech, Inc.
CONTACT: Dr. Arthur Bollon, +1-214-540-8411, or arthurb@flash.net , forHemoBioTech, Inc.
Web site: http://www.hemobiotech.com/
