The development of HBOCs involves several stages: 1. Preclinical Studies: These studies are conducted in laboratories and on animal models to evaluate the safety and efficacy of the HBOCs. 2. Clinical Trials: Successful preclinical studies lead to clinical trials on human subjects. These trials are conducted in phases to assess safety, optimal dosing, and effectiveness. 3. Regulatory Approval: After successful clinical trials, regulatory bodies review the data before granting approval for commercial use.