Item 8.01 Other Events

This Notice is being disseminated to advise the public of the proposed settlement of the shareholder derivative action brought by several shareholders on behalf of, and for the benefit of Biopure Corporation. The Court will hold a final settlement hearing on July 24, 2009 at 2:30pm in the United States District Court for the District of Massachusetts, 1 Courthouse Way, Boston, Massachusetts 02210, to determine whether to approve the settlement.

This Notice is given pursuant to an Order of the United States District Court, District of Massachusetts. The Notice is set forth as Exhibit 10.1.

Item 9.01 Financial Statements and Exhibits

Exhibit 10.1 Notice of Proposed Derivative Action Settlement

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