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Dynasil's RMD Subsidiary Awarded $1.9 Million In Technology Development Grants By The NIH



11/29/2016 9:50:21 AM

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NEWTON, Mass., Nov. 29, 2016 /PRNewswire/ -- Dynasil Corporation of America (NASDAQ: DYSL) today announced that its contract research subsidiary, RMD Inc., has received three Phase I and one Phase II grants totaling $1.9 million under the National Institute of Health's SBIR funding program.

"RMD world-class research continues to be at the forefront of medical technology," said Peter Sulick, Dynasil's CEO and President.  "RMD is developing cutting edge radiation detection materials for the National Institute of Health.   The long term goal is to deliver lower cost, next generation medical imaging systems for specific medical needs.  For more than twenty years, RMD's research has been instrumental in advances in medical imagery.  In addition, the application of their technology to other important imaging applications, such as airport baggage scanning, has greatly improved results and processing speeds in those industries."

The Phase I awards focus on three medical imaging areas; developing new materials to improve cardiac SPECT imaging, a new dental X-ray imager that will have retain the high quality images associated with digital technology, while reducing the X-ray dose a patient receives, and a new blood flow velocimetry system for the precise measurement of blood velocity in vivo.

The Phase II award is for a novel scintillator that converts ionizing beta radiation into optical photons that can be used in radioluminescence microscopy.  Radioluminescence microscopy is a newly developed method for imaging radionuclide uptake in live single cells.  This will be critical to help researchers better understand the behavior of rare single cells such as stem cells or drug-resistant cells. 

Current methods of radiotracer imaging are limited to measuring the average radiotracer uptake in large cell populations and, as a result, lack the ability to quantify cell-to-cell variations.  With this new technique, it is possible to visualize radiotracer uptake within individual cells in a fluorescence microscope environment.  The goal of this project is to develop a revolutionary innovation in a key component used in this technique.  While it could be sometime in the future, this does represent a unique approach to a large commercial marketplace.

These Phase I and Phase II research projects exemplify some of the world's most demanding medical needs," said Kanai Shah, Ph.D., President of Dynasil's RMD subsidiary. "They capitalize on our technical and scientific capability in the development of scintillation materials and instrumentation.  RMD is proud to partner with the National Institute of Health on these initiatives."

About Dynasil
Dynasil Corporation of America (NASDAQ: DYSL) develops and manufactures optics and photonics products, optical detection and analysis technology and components for the homeland security, medical and industrial markets.  Combining world-class expertise in research and materials science with extensive experience in manufacturing and product development, Dynasil is commercializing products including dual-mode radiation detection solutions for Homeland Security and commercial applications and sensors for non-destructive testing.  Dynasil has an impressive and growing portfolio of issued and pending U.S. patents.  The Company is based in Newton, MA, with additional operations in MA, MN, NY, NJ and the United Kingdom. More information about the Company is available at www.dynasil.com.

Safe Harbor 
This news release may contain forward looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.  These forward-looking statements regarding future events and our future results are based on current expectations, estimates, forecasts, and projections and the beliefs and assumptions of our management, including, without limitation, our expectations regarding results of operations, the commercialization of our technology and the strength of our intellectual property portfolio.  These forward-looking statements may be identified by the use of words such as "plans", "intends," "may," "could," "expect," "estimate," "anticipate," "continue" or similar terms, though not all forward-looking statements contain such words.  The actual results of the future events described in such forward looking statements could differ materially from those stated in such forward looking statements due to a number of important factors. These factors that could cause actual results to differ from those anticipated or predicted include, without limitation, the size and growth of the potential markets for our products and our ability to serve those markets, the rate and degree of market acceptance of any of our products, general economic conditions, costs and availability of raw materials and management information systems, our ability to obtain and maintain intellectual property protection for our products, competition, the loss of key management and technical personnel, our ability to obtain timely payment of our invoices to governmental customers, litigation, the effect of governmental regulatory developments, the availability of financing sources, our ability to identify and execute on acquisition opportunities and integrate such acquisitions into our business, and seasonality, as well as the uncertainties set forth in the Company's 2015 Annual Report on Form 10 K, as filed on December 17, 2015, including the risk factors contained in Item 1a, and from time to time in the Company's other filings with the Securities and Exchange Commission. The Company disclaims any intention or obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.

Contact:
Patty Kehe
Corporate Secretary
Dynasil Corporation of America
Phone: (617) 668-6855
pkehe@dynasil.com

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/dynasils-rmd-subsidiary-awarded-19-million-in-technology-development-grants-by-the-national-institute-of-health-300369648.html

SOURCE Dynasil Corporation of America


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