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Sangart to Present at 27th Congress of The International Society of Blood Transfusion

SAN DIEGO, CA (August 22, 2002) – Sangart, Inc., a biopharmaceutical company developing oxygen transport agents, announced today that it is scheduled to present its Phase I data for the Company's lead product, Hemospan, a product designed to serve as an alternative for red blood cell transfusions. The presentation will be given by Robert M. Winslow, M.D., Chairman and Chief Executive Officer of Sangart, at the 27th Congress of The International Society of Blood Transfusion on Wednesday, August 28, 2002 at 8:30 a.m. PT. The conference will be held at the Vancouver Convention and Exhibition Centre in Vancouver, Canada on August 24-29, 2002.

Dr. Winslow commented, "I look forward to discussing our Hemospan product, which is a radical departure from traditional approaches in oxygen transport technology. We recently completed Phase I clinical trials in May 2002 with the data reflecting no adverse events attributable to the product."

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 Sangart's products are chemically modified hemoglobin solutions prepared from outdated human blood, designed specifically to maximize oxygen transport to tissues that need it most.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 The products are chemically modified hemoglobin solutions prepared from outdated human blood, designed specifically to transport oxygen in a cell-free solution.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.

To learn more about Sangart or Hemospan®, please visit www.sangart.com