Newly Developed Molecule Potentially Allows Oxygen Flow to the Brain
BOSTON, MASSACHUSETTS, Dec. 17, 2018 (GLOBE NEWSWIRE) -- Bioxytran Inc. (BIXT). Dr. David Platt, CEO of newly formed company Bioxytran Inc, a developmental stage biotechnology company, recently addressed his shareholders in a letter discussing the significant progress the organization has made as of late. In said letter, Platt touched on a variety of matters, including a significant company milestone; Bioxytran, Inc’s transition from a privately held, to fully reporting public company under the new stock symbol BIXT.
“I’ve never been more excited about our future as a company or have felt that we are in a better position than we are in today,” said Platt, “Overall, Bioxytran has made significant strides in business development.”
One of the company’s key initiatives focuses on treating victims of strokes, which is now ranked as the fifth leading cause of death in the United States (previously ranked fourth). Higher survival rates can be largely attributed to medical treatment advances, like Bioxtran’s emergency stroke treatment.
In his letter, Platt also discussed how there are currently no viable treatments to sufficiently treat a patient prior to hospitalization due to a stroke. Bioxytran, Inc., however, is working towards a first-in-class oxygen treatment for victims of brain stroke trauma. This future treatment can be injected through an IV immediately after someone has experienced a stroke, and prior to any existing treatment that can only be administered in the hospital. This molecule is then able to travel through the blood system to the lungs, pick up an oxygen molecule, cross the clot by diffusion and molecular size, which is 1/5000 compared to the size of a red blood cell, and release the oxygen molecule into the oxygen starving brain.
“Many people miss this key brain-saving treatment because they don't arrive at the hospital in time for alteplase treatment,” said Platt, “which is why it's so important to identify a stroke and seek treatment immediately for the best possible chance at a full recovery.”
As a medicinal and PhD chemist for over 40 years, Platt considers this new medicinal chemistry as his most significant discovery to date. This new type of treatment will be one of the most important medical treatment for biological tissue oxygenation.
Platt hopes to continue the positive momentum the company has experienced into 2019 with a strong focus on value creating clinical investigations, the evaluation of business development collaborations, and on the preparation and initiation of a new Investigational New Drug registration with the FDA. A key component of this strategy will be a near-term effort to demonstrate Bioxytran’s potential with a molecule to help treat stroke victims, a pursuit with potentially significant upsides for Bioxytran’ stakeholders and the potential to achieve value-creating milestones over the next 12 to 18 months.
About Bioxytran, Inc.
Based in Newton, MA, Bioxytran Inc. is a developmental stage biopharmaceutical company developing anti-necrosis drugs that treat hypoxia by delivering oxygen. Hypoxia, a condition resulting in an insufficient supply of oxygen to bodily tissues, causes a variety of severe, harmful medical conditions including cancer growth.
The company is focusing on the development and commercialization of first-in-class treatments to prevent brain damage resulting from hypoxic conditions following brain stroke and trauma. The Company’s lead product candidate, BXT-25, is an anti-necrosis drug that carries oxygen to tissues when the flow of blood is blocked. It will be tested as a potent resuscitative agent to treat ischemic brain strokes, caused by severely reduced blood flow to the brain. In addition, the company plan to test another drug candidate, BXT-252, as a resuscitative agent in a variety of wound-healing applications, as well as in organ transplantation and cancer contexts.
Forward Looking Statements:
The information in this press release includes certain “forward-looking” statements within the meaning of the Safe Harbor provisions of Federal Securities Laws. Investors are cautioned that such statements are based upon assumptions that in the future may prove not to have been accurate and are subject to significant risks and uncertainties, including the future financial performance of the Company. Although the Company believes that the expectations reflected in its forward-looking statements are reasonable, it can give no assurance that such expectations or any of its forward-looking statements will prove to be correct. Readers are cautioned not to place undue reliance on these forward-looking statements that speak only as of the date of this release, and the Company undertakes no obligation to update publicly any forward-looking statements to reflect new information, events, or circumstances after the date of this release except as required by law. established relationships with external sources to achieve cost effective and efficient development. We are pursuing a clear development pathway to clinical enhancement and commercialization for our lead compounds in the brain in case of ischemia and other brain disease like cancer and other brain damage medical conditions. Additional information is available at www.bioxytraninc.com.
###
| Contact: David Platt, CEO of Bioxytran, Inc. |
| Phone: (617) 494-1199 |
| Email: info@bioxytraninc.com |