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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20509
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act
November 3, 1998
Date of Report
(Date of Earliest Event Reported)
SANGUINE CORPORATION
(Exact Name of Registrant as Specified in its Charter)
Nevada 0-24480 95-4347608
(State or other juris- (Commission File No.) (IRS Employer
diction of incorporation) I.D. No.)
101 East Green Street, #11
Pasadena, California 91105
(Address of Principal Executive Offices)
(626) 405-0079
Registrant's Telephone Number
Item 1. Changes in Control of Registrant.
None, not applicable.
Item 2. Acquisition or Disposition of Assets.
None, not applicable.
Item 3. Bankruptcy or Receivership.
None; not applicable.
Item 4. Changes in Registrant's Certifying Accountant.
None; not applicable.
Item 5. Other Events.
For information regarding specific Risk Factors regarding the
Registrant's Business Operations and products, see the Registration
Statement on Form 10-SB-A1, filed August 19, 1994, which is incorporated
herein by reference. See Item 7, Exhibits.
Item 6. Resignations of Registrant's Directors.
None; not applicable.
Item 7. Financial Statements, Pro Forma Financial Information and
Exhibits.
Registration Statement on Form 10-SB-A1, filed August 19, 1994**
** This document and related exhibits has been previously filed with the
Securities and Exchange Commission and is incorporated herein by reference.
Exhibit
Number Description
- ------- -----------
99 Press Release regarding synthetic blood substitute
dated November 3, 1998
Item 8. Change in Fiscal Year.
None; not applicable.
SIGNATURES
Pursuant to the requirements of the Securities and Exchange Act of
1934, the Registrant has duly caused this Report to be signed on its behalf by
the undersigned hereunto duly authorized.
SANGUINE CORPORATION
Date: 11/9/98 By:/s/Thomas C. Drees
--------------------------------------
Thomas C. Drees
CEO, President and Chairman of the Board of
Directors
Date: 11/9/98 By:/s/Anthony G. Hargreaves
--------------------------------------
Anthony G. Hargreaves
Vice President, Secretary/Treasurer and Director
Date: 11/9/98 By:/s/David E. Nelson
--------------------------------------
David E. Nelson
CFO and Director
mkl pr [letterhead]
IMMEDIATE RELEASE
SANGUINE CORP. SCORES MAJOR SCIENTIFIC
BREAKTHROUGH IN DEVELOPMENT OF
SYNTHETIC BLOOD SUBST17FUTE
Pasadena, CA. November 3, 1998. Sanguine Corporation (NASDAQ BB:SGNC) today
released findings of a major scientific breakthrough in the development of its
synthetic blood substitute, PHER-02. Research scientists in the current
program for Sanguine at Battelle Memorial Institute (BMI) have developed five
"novel" drug compounds to date that have "camouflage characteristics" which
extend the effective fife of the compounds in the body and prevent the body
from rejecting a synthetic substance.
"The great significance of this breakthrough can not be overstated," commented
Sanguine President and CEO Thomas C. Drees, Ph.D. "'Prior to this initial
finding by Battelle, we already knew about 150 possible end use applications
for PHER-02. This recent research suggests that the number of applications
could be greatly expanded. Finally, this breakthrough improves the overall
patentability of the product"
Battelle's findings address problems found in earlier products as well as
those of current competitor products, according to Drees. The limitation of
short lifetime within the body would significantly restrict the type of
procedures for which a blood substitute could be used. BMI chemists have
conceived "novel" compounds that are expected to increase lifetimes in the
bloodstream and allow the benefit of prolonged oxygen delivery to the
patient.
In its report to Sanguine, BMI also states its objective to establish the
dates of Battelle's inventions and provide patent protection for the compounds
and methodologies prepared and developed for Sanguine. Battelle is the world's
largest independent contract research group of scientists, engineers, and
other specialists. Its scientists have provided research since 1994 in support
of Sanguine's efforts to develop, manufacture and market a proprietary
synthetic red blood cell substitute.
"Sanguine estimates the annual worldwide market potential for a synthetic red
blood cell substitute at $20 billion," stated Drees. "In the United States,
alone, nearly everyone who reaches the age of seventy-five will need blood,
plasma, or one of their components at least once in his lifetime." Drees, who
has been in the forefront of the artificial blood products field for more than
twenty years, was the president and CEO of the only company to have obtained
FDA approval for a synthetic blood product to date.
For appropriate risk factors please refer to the 10SB Registration Statement
previously filed by the company with the Securities & Exchange Commission at
www.sec.gov.
Contact:
Steve Savage at
(801) 328-8899
