ROCKVILLE, Md., July 7 For the third consecutive year the Department of Defense demonstrated its commitment to help save the lives of our troops by providing STB Lifesaving TechnologiesŪ with $2.85 million of funding.
The award is to further advance the development of STBŪ's Fibrin Adhesive STat (FASTŪ) dressing, designed to be effective against the full spectrum of blood loss, including severe arterial and venous bleeding. Fifty percent or more combat-related deaths are attributable to uncontrolled hemorrhaging, and with products such as this, thousands of military and civilian lives could be saved.
"We are most appreciative of the support we have continued to receive from the Department of Defense and members of both the Senate and House. This funding is not only invaluable; it serves as a strong statement of their belief in our Fibrin Adhesive STat (FASTŪ) dressing and their commitment to help us bring our products to the battlefield, emergency responders and operating rooms," said STBŪ CEO, Richard Moscarello.
Funding for the grant was included in the FY2009 U.S. Department of Defense appropriations bill and received bipartisan support from Senators Richard Burr (R-NC), Ben Cardin (D-MD), Barbara Mikulski (D-MD), Charles Schumer (D-NY) and former Senator Elizabeth Dole (R-NC) and Representatives Bob Etheridge (D-NC), David Price (D-NC) and Chris Van Hollen (D-MD).
"We've all been encouraged by the pre-clinical studies, but it's particularly gratifying that support for our science is backed with significant monetary commitments as well," said STBŪ's Moscarello.
Founded in 2005, STB Lifesaving TechnologiesŪ (STBŪ) is a privately held, pre-clinical stage, biotechnology development company located in Rockville, Maryland. STBŪ which stands for "stop the bleeding", is focused on developing a comprehensive suite of products to stop serious and life threatening bleeding in trauma and surgical settings. With a strong proprietary position using its all-natural protein technology with five patents and one provisional patent pending, STBŪ's products will be indispensable to both the military and civilian medical markets.
SOURCE STB Lifesaving Technologies