Synthetic Blood, UTEK form strategic alliance

By Lisa Kerner

Erie, Pa., Jan. 10 - Synthetic Blood International, Inc. and UTEK Corp. signed a strategic alliance agreement. Under the terms of the agreement, UTEK will identify and facilitate the licensing of technologies and intellectual property to Synthetic Blood in the areas of therapeutic oxygen delivery and biosensors.

"We believe this strategic alliance will assist us in identifying relevant technologies being developed at academic institutions and research facilities that will expand our technology base," said Synthetic Blood president and chief executive officer Robert Nicora in a company news release.

Synthetic Blood, based in Costa Mesa, Calif., commercializes pharmaceuticals and medical devices in the field of oxygen therapeutics and continuous substrate monitoring.

Plant City, Fla.,-based UTEK is a technology transfer company that facilitates the identification and then finances the acquisition of external technologies for clients in exchange for their equity securities.

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