8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934

Date of Report

(Date of earliest event reported):

May 12, 2008

BIOPURE CORPORATION

(Exact name of registrant as specified in its charter)

DELAWARE	000-15167	04-2836871
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)

11 HURLEY STREET

CAMBRIDGE, MA 02141

(Address of principal executive offices and zip code)

(617) 234-6500

(Registrant’s telephone number, including area code)

Check the appropriate box below if the Form 8-K is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(d))

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 1.01. Entry into a Material Definitive Agreement.

On May 13, 2008, Biopure Corporation (the “Company”) entered into a Supply and Distribution Agreement with Dechra Veterinary Products, a division of Dechra Pharmaceuticals PLC (“Dechra”) pursuant to which Dechra agrees to serve as the Company’s exclusive distributor for Oxyglobin(R) solution [hemoglobin glutamer-200 (bovine)] in the U.S.

Under the terms of the agreement, Dechra will market Oxyglobin in 60 mL single dose and 125 mL single dose infusion bags, and the Company will manufacture and supply Dechra with Oxyglobin. The contract contemplates royalty payments to the Company based on net sales of Oxyglobin. The initial term of the agreement will expire on May 13, 2013 and the agreement will automatically renew thereafter for consecutive one-year terms unless either the Company or Dechra gives notice of termination at least six months prior to the end of the initial term or two months prior to a renewal term. If Dechra fails to comply with certain minimum purchase amounts set forth in the agreement, the Company will have the option to convert the distribution rights granted in the agreement to non-exclusive rights or terminate the agreement.

The foregoing is a summary description of the terms and conditions of the agreement and by its nature is incomplete. It is qualified in its entirety by the text of the agreement, a copy of which will be filed as an exhibit to the Company’s quarterly report on Form 10-Q for the quarter ended April 30, 2008.

On May 14, 2008, the Company issued a press release regarding the agreement, a copy of which is attached as Exhibit 99.1 hereto.

Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On May 12, 2008, Geoffrey J. Filbey, Vice President, Engineering of the Company, resigned from the Company to pursue other interests, effective as of the same date.

ITEM 9.01 Financial Statements and Exhibits.

(d) Exhibits.

99.1 Press Release issued by Biopure Corporation on May 14, 2008.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	BIOPURE CORPORATION
Date: May 16, 2008	By:	/s/ Zafiris G. Zafirelis
	Name:	Zafiris G. Zafirelis
	Title:	Chairman, President and Chief Executive Officer

EXHIBIT INDEX

Exhibit Number	Description
99.1	Press Release issued by Biopure Corporation on May 14, 2008.

EX-99.1

Exhibit 99.1

	Contact: Tiana Gorham
	Biopure Corporation
	(617) 234-6826
	IR@biopure.com

FOR IMMEDIATE RELEASE

BIOPURE APPOINTS DECHRA EXCLUSIVE U.S. DISTRIBUTOR OF OXYGLOBIN

CAMBRIDGE, Mass., May 14, 2008 – Biopure Corporation (Nasdaq: BPUR) today announced it has appointed Dechra Veterinary Products as exclusive distributor for Oxyglobin^® solution [hemoglobin glutamer–200 (bovine)] or HBOC-301, in the U.S. Oxyglobin is the only FDA-approved treatment for canine anemia, a potentially life-threatening condition. Under the terms of the agreement, Dechra will market Oxyglobin in 60 mL single dose and 125 mL single dose infusion bags, and Biopure will continue to manufacture Oxyglobin.

“We look forward to mutual success with Dechra to have Oxyglobin reach its market potential,” stated Barry Scott, Vice President, Business Development of Biopure. “We selected Dechra because it has been successful at developing its presence in the U.S. veterinary market with FDA approved products for companion animals.”

Dechra Veterinary Products is a division of Dechra Pharmaceuticals PLC, a UK Stock Exchange Listed Company in international animal healthcare marketing. For more information about Oxyglobin, see www.oxyglobin.com or www.dechra-us.com. More information about Dechra Pharmaceuticals PLC can be found at www.dechra.com.

Biopure Corporation

Biopure Corporation develops, manufactures and markets pharmaceuticals, called oxygen therapeutics, that are intravenously administered to deliver oxygen to the body’s tissues. Hemopure^® [hemoglobin glutamer—250 (bovine)], or HBOC-201, is approved for sale in South Africa for the treatment of surgical patients who are acutely anemic. Biopure’s veterinary product Oxyglobin^® [hemoglobin glutamer—200 (bovine)], or HBOC-301, the only oxygen therapeutic approved for marketing by both the U.S. Food and Drug Administration and the European Commission, is indicated for the treatment of anemia in dogs. Biopure has sold approximately 200,000 units of Oxyglobin since the product’s launch in 1998.

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