BioXyTran has filed for an offering of common stock that will bring in approximately $10 million. The company has two candidates that it intends to advance to pre-clinical development with the proceeds.
The prospectus identifies two compounds in development – both intended to treat hypoxia. BXT-25 is an oxygen-carrying small molecule consisting of bovine hemoglobin stabilized with a co-polymer with intended applications to include treatment of hypoxic conditions in the brain resulting from stroke, and hypoxic conditions in wounds to prevent necrosis and to promote healing. BXT-252, a sub-class compound of BXT-25 that is intended to treat wounds related to ischemia caused by capillary occlusion.
The prospectus states that the only current offices are David Platt PhD as CEO and Ola Soderquist as CFO. Dr Platt has founded three publicly traded companies and developed two drug candidates from concept to Ph II trials.