Daxor Corporation Selected for U.S. Army Contract to Develop a Blood Volume Analyzer for Improvement of Combat Casualty Care

 November 7, 2018 - 8:30 AM EST
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Daxor Corporation Selected for U.S. Army Contract to Develop a Blood Volume Analyzer for Improvement of Combat Casualty Care

NEW YORK, Nov. 07, 2018 (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. Army has selected it for a contract award to develop a blood volume analyzer for improving combat casualty care.

The selection was made under the Defense Department’s Small Business Innovative Research (SBIR) program.  The contract award will be to develop and demonstrate a prototype blood volume analyzer suitable for military use leveraging Daxor’s technology and experience with blood volume measurement devices.  “Hemorrhage is the primary cause of death in about 30% of injured soldiers,” said Michael Feldschuh, CEO of Daxor Corporation.  “Direct blood volume measurement has been shown to improve outcomes in a broad range of acute and chronic medical conditions.  Our existing technology platform and patent portfolio is an ideal foundation for developing a rapid, rugged, portable blood volume analyzer that can improve prehospital resuscitation on the battlefield, potentially saving many lives.”

"This is an exciting additional opportunity to push our research and development program forward,” says Jonathan Feldschuh, Chief Scientific Officer.  “We are focused on making volume measurement easier and quicker to perform, whether in a hospital lab, on the battlefield, or at the patient bedside.”

This is a first-time award for Daxor.  SBIR contracts are designed to stimulate innovation by companies to develop technologies and solutions that meet critical Army needs.  SBIR programs benefit the Department of Defense (DoD) and the private sector and support the nation’s economic growth.

About Daxor Corporation

Daxor Corporation is an innovative medical instrumentation and biotechnology company.  We manufacture the BVA-100 Blood Volume Analyzer, the first instrument approved by the FDA to provide rapid direct measurement of a patient’s blood volume.  We believe that the BVA-100 Blood Volume Analyzer has the potential to transform therapy in a broad range of surgical and medical conditions.  It is our goal, working in conjunction with hospitals and clinics, to achieve that possibility.  Ultimately the company’s mission is to help hospitals and physicians incorporate Daxor’s BVA-100 diagnostic to significantly improve the quality of patient care.  For more information please visit our website at http://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 risks 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.

Contact Information:

Investor Relations Contact:

Bret Shapiro
Sr. Managing Partner
CORE IR
561-479-8566
brets@coreir.com

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Source: GlobeNewswire (November 7, 2018 - 8:30 AM EST)

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