The task of blood collection and storage for use in transfusion can be an up and down battle. Some months, collection companies like the Red Cross may have so much volume that they turn away donors. Other months, there may be such an increased need that they have to roll out a mobile team. Fortunately for us, we are living in a time of medical advances. If blood is not available, we can look for alternatives and substitutions. Blood substitutes, often called artificial blood, are used to fill fluid volume and/or carry oxygen and other blood gases in the cardiovascular system. As this is a matter of life and death, companies like Synthetic Blood International, Inc. stand to benefit.
In September of 1990, Synthetic Blood International, Inc. began conducting operations in two areas. The first was the development of a synthetic blood emulsion to act as a human blood substitute. The second involved discovering a method which used a perfluorocarbon compound (i.e., a biologically inert compound containing carbon and fluorine) to facilitate oxygen exchange in individuals with respiratory distress syndrome. The Company is also developing an implantable, continuous-reading, glucose biosensor to be used primarily by diabetics.
The company is currently focusing on developing Oxycyte™, a product they consider a safe and effective alternative to transfused blood. Oxycyte can be used in medical situations, like surgery, to replace blood. The Oxycyte™ blood substitute product is a perfluorocarbon emulsified with water and a surfactant, which is given intravenously. Unlike blood, Oxycyte™ requires no cross matching, so it is immediately available and compatible with all blood types. Oxycyte™, as opposed to blood, also has an extended shelf life, and can be manufactured in amounts sufficient to meet demand, which means nothing is wasted. Since Oxycyte™ is not based on any biological component, it is sterile and free of potential contamination from all donors.
In addition to Oxycyte™, the company also manufactures Fluorovent™ (an oxygen exchange fluid for facilitating the treatment of lung conditions), and a biosensor implant that uses an enzyme process for measuring glucose levels in subcutaneous fluid. Fluorovent™ and the Biosensor Implant are still in the testing stage, and the company has not filed any applications for human testing of these products with the FDA.
In line with its product platform, the company employs industry-experienced executives with scientific backgrounds to lead its team. These include Interim Chief Executive Officer Robert Larsen, who is the founder of Synthetic Blood International, and Richard Kiral, PhD, Vice President of Research & Development, who is responsible for developing products from Synthetic Blood’s perfluorocarbon technology platforms. Dr. Kiral has more than 35 years of experience in the pharmaceutical and medical industry.
According to various sources, more than 5 million people a year get blood transfusions in the United States alone. Unfortunately, blood is perishable, so building up huge supplies, or storing them for long periods of time, is impossible. This makes the demand for blood both a constant concern and an urgent need at critical times. Based on these circumstances, the company believes that there may be a substantial and meaningful market for an effective blood substitute like Oxycyte™, and they are convinced their product is a viable candidate for exploiting that market.
Critical shortages of donor blood, combined with increased risk of disease transmission, have created a worldwide need for suitable blood replacement fluids. The global market for blood substitutes is estimated to reach $5 billion. The company is hoping Oxycyte™ will be used in emergency rooms, surgical centers, by emergency medical technicians in ambulances, in medical helicopters, and in other pre-hospital settings. In addition, the military has expressed a high level of interest in oxygen-carrying products for the resuscitation of battlefield casualties.
On the other hand, while Synthetic Blood International may have a great product and great management, the company is focusing most of its resources on Oxycyte™ rather than on its other product, Fluorovent™. As a result, the company can be considered a one-product company, with its future depending on the success of Oxycyte™. This may present a problem if patients, doctors and hospitals decide not to use a blood substitute and opt for whole blood instead. Another possible factor that may pose a problem to the company is on-going testing and the expenses associated with further developing its other product, Fluorovent™, to meet FDA requirements.
However if Synthetic Blood, Inc. can appeal to the blood industry and demonstrate that its product can readily and effectively meet the critical shortage of blood faced by the medical industry, then Synthetic Blood may be a good company to keep one’s eye on in the future.
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