Velaresol, also known as BW12C or BW12C79, is an oxyhemoglobin stabilizer that has the potential to induce normal tissue and tumor hypoxia preferential binding to the oxy conformation of hemoglobin, increasing its affinity for oxygen and thereby reducing oxygen availability to tissues. Velaresol stabilizes oxyhemoglobin also protect sickle cells against calcium-mediated dehydration. The activity of a number of bioreductive anticancer drugs, such as mitomycin C, maybe enhanced under hypoxic conditions. Velaresol administration caused significant radioprotection of normal tissues and induced tumor necrosis.