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Don't call it a "blood substitute." San Diego's Sangart, developing "Oxygen therapeutic" by modifiying hemogloblin, raises $50 million following green light from interim safety studies. This 13-year-old startup has raised total of $280 million since inception, expects to complete mid-stage trials by end of year. http://www.xconomy.com/san-diego/2012/05/29/safety-analyses-lead-sangart-to-move-ahead-with-oxygen-therapeutic/
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