Daxor Corporation Contracted to Adapt Its Blood Volume Analyzer Technology for U.S. Air Force Needs
NEW YORK, March 09, 2020 (GLOBE NEWSWIRE) -- Daxor Corporation (NYSE MKT: DXR), an investment company with innovative medical instrumentation and biotechnology operations focused on blood volume measurement, today announced that the U.S. Air Force (USAF) has awarded Daxor a contract to define specifications to adapt blood volume analysis technology to meet the needs of USAF.
The selection was made under the USAF’s Small Business Innovative Research (SBIR) program. The contract award will be to validate the product-market fit between Daxor’s blood volume analyzer and USAF stakeholders and define technological enhancements desirable to facilitate adoption of the device by USAF and other defense stakeholders.
“Daxor looks forward to adapting its technology to provide time sensitive, mission critical care information and decision support to the specially trained personnel within the Air Force,” said Michael Feldschuh, CEO of Daxor Corporation.
"This opportunity enables us to continue to push our research and development program forward, opening new applications for our technology” says Jonathan Feldschuh, Chief Scientific Officer. “We are focused on making blood volume measurement simpler and quicker to perform, whether in an aircraft, a field hospital, or at the patient bedside.”
This is the second award for Daxor with the Department of Defense (DoD). SBIR contracts are designed to stimulate innovation by companies to develop technologies and solutions that meet critical Army needs. SBIR programs benefit the DoD and the private sector and support the nation’s economic growth.
About Daxor Corporation
Daxor Corporation (NYSE: DXR) is an innovative medical instrumentation and biotechnology company focused on blood volume measurement. We developed and market the BVA-100® (Blood Volume Analyzer), the first diagnostic blood test cleared by the FDA to provide safe, accurate, objective quantification of blood volume status and composition compared to patient-specific norms. The BVA technology has the potential to improve hospital performance metrics in a broad range of surgical and medical conditions including heart failure and critical care by better informing treatment strategies, resulting in significantly better patient outcomes. Our mission is to partner with clinicians to incorporate BVA technology into standard clinical practice and improve the quality of life for patients. For more information please visit our website at https://www.daxor.com
Forward-Looking Statements
Certain statements in this release may include forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including without limitation, statements regarding the impact of hiring sales staff and expansion of our distribution channels. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this release, including, without limitation, those risk associated with our post-market clinical data collection activities, benefits of our products to patients, our expectations with respect to product development and commercialization efforts, our ability to increase market and physician acceptance of our products, potentially competitive product offerings, intellectual property protection, FDA regulatory actions, our ability to integrate acquired businesses, our expectations regarding anticipated synergies with and benefits from acquired businesses, and additional other risks and uncertainties described in our filings with the SEC. Forward-looking statements speak only as of the date when made. Daxor does not assume any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Investor Relations Contact
Bret Shapiro
Sr. Managing Partner, CORE IR
516-222 -2560
brets@coreir.com
