Some innovations are so groundbreaking that the excitement around them can hinder their path to commercialization. When an innovation sounds too good to be true, or even a little like science fiction, identifying the first viable market can be challenging. The endless possibilities can make it difficult to focus on the practical steps needed to bring the technology to life.
Artificial blood falls into this category. Blood loss is the leading cause of preventable death in trauma situations, and both human and veterinary medicine face challenges in delivering oxygen when blood transfusions aren’t an option. ReBlood Rx, founded by Carlos Munoz and Christopher Caballero, has developed a revolutionary hemoglobin-based oxygen delivery system—essentially a blood alternative—that they are now working to bring to market.
Turning Sci-Fi Into Reality
Munoz and Caballero aren’t the first to attempt to develop and commercialize this kind of technology. The search for an oxygen-carrying blood alternative has been ongoing since the discovery of blood circulation. Various solutions have emerged over the past several decades, with several reaching clinical trials only to be discontinued due to side effects or prohibitive costs. There are currently no blood substitutes with U.S. Food and Drug Administration (FDA) approval in the United States.
Munoz often describes the idea of a blood alternative as “sci-fi” in its early days—a concept everyone wanted, but few believed possible. This skepticism—shared by both the medical community and the public—made convincing stakeholders of the product’s safety and viability especially challenging. According to Munoz, one of the key challenges was a misunderstanding of what blood alternatives are.
Early efforts to commercialize such products were often treated as direct replacements for human blood, such as a complete one-to-one substitute for red blood cells or plasma. But that was never ReBlood Rx’s goal.
Munoz and Caballero didn’t see their solution as a “replacement,” but as a vital, life-saving tool when blood isn’t available—in remote locations or in situations where refrigeration and storage infrastructure simply doesn’t exist. ReBlood Rx’s technology would be used as a complement to, not a substitute for, conventional blood transfusions.
Reframing allowed the company to effectively align with potential customers and the broader healthcare industry. Through accelerators and customer discovery programs like NSF I-CorpsTM and VentureWell’s E-Team Program, ReBlood Rx validated its hypothesis and moved past the limitations of previous efforts. Carlos notes that earlier commercialization efforts often failed due to poor market fit, regulatory issues, and a lack of entrepreneurial insight into customer needs. Now, with a clearer understanding of both the technology and the market, ReBlood Rx is navigating these hurdles more effectively.
“We’re leveraging existing scientific know-how and putting the bow on top,” says Munoz. “This is our contribution: to reignite excitement and bring this life-saving technology to market.”
From Military Logistics to Biotech
ReBlood Rx emerged from an idea at the intersection of technology, healthcare, and entrepreneurship. Though the founders grew up together in the West Covina area of Los Angeles County, California, their professional backgrounds are distinct yet complementary.
Caballero, a West Point graduate and former U.S. Army logistics officer, brings a wealth of experience managing supply chains and handling critical medical situations in the field. His military service exposed him to the challenges of providing immediate care to wounded soldiers, a challenge often exacerbated by the difficulty of transporting and storing blood in extreme environments. For Caballero joining ReBlood Rx was an opportunity to solve a real-world problem: saving lives in places where blood storage isn’t possible.
Munoz, on the other hand, comes from a research background, having earned his Ph.D. in bioengineering at the University of California San Diego. As a co-founder of Ateios Systems, he understands the challenges and rewards of entrepreneurship.
Bringing a Revolutionary Product to Market
Blood serves many functions, from temperature regulation to waste removal, but ReBlood Rx focuses on the most urgent need: oxygen transport. Blood loss is deadly because it deprives tissues and organs—especially the heart and brain—of oxygen. A person can die within five minutes without oxygen, and after 15 minutes, survival is nearly impossible.
Caballero had just left the military when Munoz approached him with the idea for ReBlood Rx. Having led medical units, Caballero immediately saw its life-saving potential. “In the field, speed is everything,” he says. “The faster you treat a wounded soldier, the better their chances of survival.”
“We’re leveraging existing scientific know-how and putting the bow on top. This is our contribution: to reignite excitement and bring this life-saving technology to market.”—Carlos Munoz
Blood must be refrigerated and matched to the recipient’s blood type, making transport impractical in many circumstances. A universal, shelf-stable blood substitute that delivers oxygen like real blood could save countless lives—especially in military settings. ReBlood Rx does exactly that, buying critical time for patients to get to a medical facility for more thorough treatment.
“The more I learned, the more I realized how broad of an application ReBlood could have,” Caballero says. “Beyond the military, it could help anemic patients, car accident victims in rural areas—really anywhere that blood is needed to survive an emergency.”
Truly groundbreaking products like ReBlood Rx come with steep entrepreneurial challenges. Munoz and Caballero are finding their path through customer discovery and toward product-market fit.
Here are their key learnings and best advice.
Accept When You Need To Pivot
Munoz and Caballero quickly realized that the regulatory hurdles for clinical trials and FDA approval for human use were too great for ReBlood Rx at its current stage. The process would require more time and resources than the venture could afford. The company pivoted to target a market with fewer and less expensive regulations.
“Blood is universal among mammals,” Munoz says. “So we turned to the veterinary market.” In this space, they could bring the product to market in under two years.
Veterinarians were also more receptive to the technology than clinicians or military professionals. Munoz and Caballero knew they needed to understand their potential customers’ pain points, and veterinarians were willing to offer them both positive and critical feedback. They were eager to explore how ReBlood Rx could help save the lives of animals in their care.
Entrepreneurship Is a Test of Persistence
“It’s a war of attrition,” Munoz says. “As an entrepreneur, I don’t expect overnight success, but I believe that persistence will eventually lead to a breakthrough.” While persistence isn’t a guarantee of success, a lack of it guarantees failure.
Once they identified the veterinary market as a better fit, Munoz and Caballero reached out to as many veterinarians as possible. One introduced them to a regulatory contact who helped them navigate commercialization in this market. “You have to follow the breadcrumbs,” Caballero says. “Stay curious, and follow through.”
None Of This Is Possible Without Relationships
“People undervalue relationship-building,” Caballeros says. “None of this is possible without the support and trust people have invested in ReBlood.” This is true throughout the entrepreneurial journey, from customer discovery to intellectual property management to fundraising and beyond.
Talk to the People Who Might Be Customers
“I encourage anyone with an idea for a startup to go through the customer discovery process,” Caballeros says. “Talk to the people you think might be your customers. Best case, you’re right about everything. Worst case, you discover your mistakes sooner and save money and time. It’s a valuable exercise in validating your assumptions.”
Seek Partnerships at Every Level
“When it comes to startups, there are two camps: Do it all yourself, or build partnerships,” Caballero says. “We’re the latter. We’ve established partnerships across the supply chain, from contract manufacturers to regulatory experts to future customers. We engage at every stage, from production to delivery to application.”
Consider the Customer’s Viewpoint
“You have to shift your perspective and consider what others want or need,” Munoz says. “I may want something, but to get it, I need to consider how I can help others get what they need. How can I make their job easier? How can I make their day better? How can I help them make their boss happy?”
Speak Their Language
“We’re mission-driven—we’re here for the life-saving impact of ReBlood Rx,” Munoz says. “But mission alone doesn’t resonate with everyone. Financial backers care about profit, not just saving lives. You need to shift the narrative—show how your company will save lives and make money. Explain why their investment makes financial sense.”
A Market for Today, A Market for Tomorrow
Munoz and Caballero still hope to bring ReBlood Rx to human healthcare eventually, but for now, they see a clearer path to commercialization in veterinary use.
Bringing a revolutionary product like a blood substitute to market is full of challenges. It’s easy to get sidetracked chasing multiple potential applications, and it can be tough to pivot from one dream to a more practical path. Success requires not only groundbreaking innovation but also strong business skills, a deep well of persistence, a willingness to learn and adapt, and constant relationship-building.
For many years a practical blood substitute that can save lives during rapid blood loss has been a science fiction dream. ReBlood Rx may finally turn that dream into reality—and save lives in the process.
Learn more about Munoz’s journey and how ReBlood Rx plans to level the playing field in emergency responses:
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