It’s white, it looks like milk, but it works like blood. Made from substances similar to the Teflon coating in your frying pan, this white liquid known as Oxycyte can carry up to 50 times the amount of Oxygen as normal blood, making it a great candidate for treating traumatic injuries. Its particles are also a whole lot smaller than the red blood cell, allowing it to squeeze through narrow constricted capillaries to reach the injured tissues.
Don’t expect it to replace our natural blood though – while it has vastly superior oxygen carrying capacity, it is lacking in other properties of blood – carrying hormones, fight infection, regulating pressure etc.
Interesting stuff from PopSci.