Oxoferin™, a topical wound healing agent, is a diluted form of WF10, a chlorite-based, immunomodulating drug. The Company believes the research to-date indicates Oxoferin™ has a positive impact on wound healing leading to closure and faster healing of wounds.

Chronic, hard-to-heal wounds are a serious problem with an increasing incidence. Chronic wounds can be caused by such conditions as pressure sores and poor circulation in the lower extremities. Co-morbid conditions, such as diabetes and atherosclerosis, reduce blood flow to the extremities and also increase the likelihood of developing chronic wounds.

A diluted form of WF10 is marketed by the Company’s European subsidiary in parts of Europe, Asia and South America as a topical wound healing agent under several trade names including Oxoferin™ and Oxovasin®.  In 2008, the Company signed a distribution and license agreement with a Russian Partner for Russia and some of the former Soviet republics including all of the Baltic States. The Russian Partner applied for marketing authorizations and informed the Company that the application was not recommended for approval by the Russian Ministry of Health in late 2010. In 2009, the Company signed a distribution and license agreement with Ranbaxy for Malaysia, Philippines, Vietnam, Singapore and other Indochina countries. Ranbaxy is responsible for obtaining marketing approvals for all licensed territories.