SANGART INITIATES PHASE IB/II CLINICAL TRIAL FOR HEMOSPAN(TM)

05/08/2003

- Sangart Publishes Study of Hemospan (MP4) in Transfusion -

SAN DIEGO, CA - May 8, 2003 - Sangart, Inc., a biopharmaceutical company developing oxygen transport agents, announced today the initiation of its Phase Ib/II clinical trial for Hemospan (MP4) at the Karolinska Hospital in Stockholm, Sweden. This clinical trial will include thirty patients undergoing elective orthopedic surgeries. The trial is expected to last through August and the Company anticipates results by the end of 2003.

Additionally, Sangart announced the publication of a new study evidencing the successful use of Hemospan in animal models. The manuscript entitled "MP4, a new nonvasoactive PEG-Hb conjugate" is published in the April 2003 issue of The Journal of the American Association of Blood Banks - Transfusion 43 (4) 509-516, 2003 - (Vandegriff, Malavalli, Wooldridge, Lohman, and Winslow). The article explains that Sangart's Hemospan is a promising candidate for hemoglobin-based red blood cell substitutes because of its high efficiency of production and because it is not hypertensive when infused into animals. The results of the study found no significant elevation in mean arterial pressure, a major limitation to the development of a safe and effective blood substitute.

Robert M. Winslow, M.D., Chairman and Chief Executive Officer of Sangart, commented, "We are delighted that we are on track with the clinical development program for our Hemospan product for use as an alternative to traditional blood transfusions in orthopedic surgeries. We are equally delighted about the publication in Transfusion. As everyone knows, vasoconstriction has been a common obstacle to clinical development of oxygen transport agents. Through our research, Hemospan appears to be free of a pressor effect. We feel that this article in Transfusion highlights the clear clinical advantages of our product as a radical departure from other oxygen transport blood substitutes in terms of safety and efficacy."

About Transfusion -
Transfusion is the foremost publication in the world for new information regarding transfusion medicine. Transfusion reports on the latest technical advances, discusses opposing viewpoints regarding controversial issues, and presents key conference proceedings. In addition to blood banking and transfusion medicine topics, Transfusion also presents submissions concerning tissue transplantation and hematopoietic, cellular, and gene therapies. Transfusion is the official journal of the American Association of Blood Banks.

About Hemospan -
Hemospan is a product that is designed to serve as an alternative for red blood cell transfusions. Hemospan represents a revolutionary approach in oxygen transport technology and is distinct from blood substitute products that have languished in decades-old clinical research. Sangart's products are chemically modified hemoglobin solutions prepared from outdated human blood, designed specifically to maximize oxygen transport to tissues that need it most.

About Sangart -
Sangart is a private biopharmaceutical company focused on the research, development and commercialization of medical products designed for use as alternatives to blood transfusions. The products are chemically modified hemoglobin solutions prepared from outdated human blood, designed specifically to transport oxygen in a cell-free solution.

Dr. Robert Winslow, a world-renowned authority in the field of oxygen transport, founded Sangart in 1998. In the two decades prior to founding Sangart, Dr. Winslow and his colleagues studied and defined mechanisms of oxygen transport by cell-free hemoglobin solutions, funded by competitive grants from the National Institutes of Health and the Department of Defense. The counterintuitive discoveries by Dr. Winslow's group on the effective action of oxygen transport agents have been patented and published in numerous scientific articles. From this experience, Sangart designed its lead product, Hemospan, using unique polyethylene glycol conjugation to create a hemoglobin-based product that is intended to serve as an alternative to donated blood.

The key breakthroughs in the development of Hemospan were the understanding of the mechanisms of vasoconstriction and the development of simplified production methods that make the final product commercially viable. These breakthroughs laid the groundwork for Sangart's business concept of developing cost-effective oxygen carriers that can be used in lieu of transfused red blood cells during episodes of temporary blood loss, such as surgery or trauma.

Sangart's corporate headquarters are in San Diego, California. To learn more about Sangart, please visit the Company's website at www.sangart.com.


CONTACTS: Richard
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Sangart, Inc.
858.455.0966
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Jill Meleski
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Greg
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The Ruth Group
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