Market Overview

DAXOR ANNOUNCES COOPERATIVE RESEARCH AND DEVELOPMENT AGREEMENT WITH THE UNIFORMED SERVICES UNIVERSITY OF THE HEALTH SCIENCES

Share:

NEW YORK, Aug. 04, 2020 (GLOBE NEWSWIRE) -- Daxor Corporation (NYSE:DXR), an investment company with innovative medical instrumentation and biotechnology operations focused on blood volume measurement, today announced that it has entered into a Cooperative Research and Development Agreement ("CRADA") with The Uniformed Services University of the Health Sciences ("USU"), an institution of higher learning within the United States Department of Defense (DoD), and The Henry M. Jackson Foundation for the Advancement of Military Medicine (HJF) on behalf of USU's Battlefield Shock and Organ Support Research Program (BSOS). The partnership includes researching the effectiveness of Daxor's BVA-100 diagnostic test on quantifying circulatory blood volume in the context of traumatic injury.

"Diagnostics currently used to guide battlefield resuscitation and transfusions, such as heart rate, cardiac output, stroke volume, and blood pressure, often misdiagnose the severity of volume derangement," said Michael Feldschuh, CEO and President of Daxor. "Daxor's BVA-100 Blood Volume Analysis (BVA) technology can greatly improve the existing standard of care by ensuring treatment decisions based on precise measurement of blood volume for better trauma survival outcomes."

Extensive peer-reviewed medical literature has validated Daxor's BVA's enhancement of interventions through reliable and accurate blood volume measurement. Most relevant to military medicine is a prospective randomized controlled trial which demonstrated that, compared to standard care, actionable BVA-100 information changed surgical intensive care unit (SICU) fluid and red blood cell interventions by 44% of cases while reducing patient mortality by 66%. Additionally, it cut patients' length of stay and days on a ventilator.

The collaboration will encompass multiple projects with the ultimate objective of saving the lives of American soldiers and translating the results to civilian care. Target indications include hemorrhage, burn, trauma, sepsis and acute respiratory distress syndrome.

"Collaborating with USU and HJF is an important milestone as we have been working on new technology and filed patent applications to extend the capabilities of our current FDA-cleared diagnostic system, the BVA-100, for both civilian and military use," said Jonathan Feldschuh, Chief Scientific Officer at Daxor. "The results of this work will also support work on the next generation BVA device currently in development under a separate contract with the Department of Defense."

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 informing treatment strategies, resulting in significantly improved 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 Daxor.com.

About HJF

The Henry M. Jackson Foundation for the Advancement of Military Medicine, Inc. (HJF) is a global nonprofit organization with the mission to advance military medicine. HJF's scientific, administrative and program operations services empower investigators, clinicians, and medical researchers around the world to make discoveries in all areas of medicine. With more than 35 years of experience, HJF serves as a trusted and responsive link between the military medical community, federal and private partners, and the millions of warfighters, veterans, and civilians who benefit from military medicine. For more information, visit hjf.org.

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.

Investor Relations Contact:
Bret Shapiro
Sr. Managing Partner, CORE IR
516-222-2560
brets@coreir.com

Primary Logo

View Comments and Join the Discussion!
 
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com