Daxor Corporation Awarded $1.9M Contract by The U.S. Air Force for Development of its Next Generation Tracer System in its Point-of-Care Blood Volume Analyzer

Oak Ridge, TN, Aug. 06, 2024 (GLOBE NEWSWIRE) -- Daxor Corporation (Nasdaq: DXR), the global leader in blood volume measurement technology, today announces it has been awarded a $1.9M two-year contract from the U.S. Air Force (USAF) to support the continued development of a novel fluorescent tracer and optical sensing technology into a next-generation point-of-care blood volume analyzer for military and civilian applications.

Michael Feldschuh, Daxor’s President and CEO, highlighted the significance of this latest agreement: “We're proud to continue our collaboration with the USAF, marking our third consecutive contract. Our ongoing alliance accelerates the development of our innovative technology, making precise blood volume measurement faster and more accessible in both combat casualty care and civilian use. Our blood volume analysis (BVA) diagnostic is revolutionizing current practices allowing medical teams to make more informed choices about fluid resuscitation and blood transfusions, improving patient survival rates and overall outcomes."

The funding was made possible through the highly competitive USAF’s Tactical Funding Increase (TACFI) Program of AFWERX, the USAF team of innovators who encourage and facilitate connections across industry, academia, and the military to create transformative opportunities for the development of rapid and affordable commercial and military technologies and solutions that meet critical healthcare needs.

About Daxor Corporation

Daxor Corporation (Nasdaq: DXR), is the global leader in blood volume measurement technology focused on blood volume testing innovation. We developed and market the BVA-100^® (Blood Volume Analyzer), the only diagnostic blood test cleared by the FDA to provide safe, accurate, objective quantification of blood volume status and composition compared to patient-specific norms. Over 65,000+ tests have been performed at leading hospital centers across the U.S., enhancing hospital performance metrics in a broad range of surgical and medical conditions, including significantly reducing mortality and readmissions in heart failure and critical care. Daxor has several ongoing trials in the areas of heart failure treatment with support from the NIH and is under contract developing analyzers to improve combat casualty care with the U.S. Department of Defense. Daxor's mission is to advance healthcare by enabling optimal fluid management with blood volume analysis. Daxor’s vision is optimal blood volume for all. For more information, please visit our website at Daxor.com. Sign up to receive news on Daxor’s innovative technology HERE.

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
1-516-222-2560
brets@coreir.com