Bioxytran and Heme Foundation Form Joint Venture for Universal Oxygen Carrier Development

BOSTON, MASSACHUSETTS, July 18, 2024 -- BIOXYTRAN, INC. (OTCQB: BIXT) has announced a significant Joint Venture with the Heme Foundation aimed at developing a Universal Oxygen Carrier (UOC) to serve as an alternative to traditional blood transfusions. The venture is crucial amidst the ongoing global blood supply shortage.

Bioxytran, a clinical stage biotechnology company, is focused on creating both oral and intravenous drugs for treating viral diseases, including COVID-19, and stroke. Under the new partnership, Bioxytran will maintain intellectual property rights, while the Heme Foundation will receive usage rights for blood transfusion applications. The Foundation has committed up to $10 million to support the project, which has already seen an investment of over $2 million in prototype development and compound formulation.

The UOC, developed by Bioxytran, is based on a complex carbohydrate compound and has already shown promise in small-scale animal trials involving mice and rabbits. The company has established a pilot manufacturing line and is gearing up for a large-scale toxicology study involving two animal species. The Heme Foundation's financial backing is critical for advancing this research, enabling the manufacturing of the UOC molecule, and conducting the necessary preclinical and clinical trials.

The Heme Foundation is dedicated to addressing the global blood shortage. Their team is committed to ensuring universal access to lifesaving transfusions. They believe Bioxytran’s UOC technology holds significant potential to mitigate the current blood supply crisis. The UOC is designed to be compatible with all blood types, eliminating the need for pathogen screening and boasting an extended shelf life at room temperature. These attributes make it particularly valuable for remote areas where maintaining a stable blood supply is challenging due to logistical and infrastructural constraints.

Blood transfusions are vital for numerous medical procedures, yet managing the entire process from donation to transfusion is both complex and costly. Red blood cells have a shelf life of just 21 days, complicating efforts to maintain a fresh supply, especially in the face of power outages, natural disasters, pandemics, and conflicts.

Bioxytran’s UOC represents a potentially revolutionary shift in transfusion medicine. Its development is rooted in an in-depth understanding of oxygen delivery mechanisms within the body. The carbohydrate science behind the UOC ensures it evades immune rejection—an issue that has plagued other blood substitutes. The UOC is a hemoglobin-based oxygen carrier (HBOC), mimicking the oxygen transport function of red blood cells. Unlike prior HBOCs, which have been linked to side effects like high blood pressure and organ damage, Bioxytran’s UOC has not shown such adverse effects in studies.

The UOC leverages a heme-carbohydrate complex, separating the heme from the globin chains in hemoglobin molecules. Suitable for patients of all blood types, the UOC has an expected half-life of 18 hours and offers a shelf life exceeding five years without the need for refrigeration.

Leslie Ajayi, Chief Medical Officer of Bioxytran, Inc., highlighted the broader potential of this technology beyond blood substitutes. The UOC can emulate the benefits of hyperbaric oxygen therapy (HBOT) in a simple intravenous shot, delivering 18 hours of HBOT benefits without the typical side effects. This could be transformative for conditions like wound healing, ischemia, anemia, dementia, and Alzheimer’s disease. The foundational technology behind UOC was initially employed in developing BXT-25, targeting stroke, Alzheimer’s disease, and pulmonary fibrosis. Ajayi emphasized the potential for revolutionizing blood transfusions, particularly in remote, underserved areas lacking robust supply chains and infrastructure.

The Heme Foundation, a nonprofit organization founded in 2021 in Bethlehem, Pennsylvania, aims to provide an alternative to traditional blood transfusions. Bioxytran, Inc. is a pioneering biotech company leveraging artificial intelligence to create novel carbohydrate structures for treating viral diseases and other medical conditions.

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