Daxor Corporation Receives $300K Matching Fund Award From Launch Tennessee
Rhea-AI Summary
Daxor (NASDAQ: DXR), a leader in blood volume measurement technology, has been awarded a $300,000 SBIR matching fund by Launch Tennessee (LaunchTN). This funding will support the development of Daxor's next-generation point-of-care blood volume analyzer, building on their Phase II award from the Defense Health Agency. The award underscores Daxor's commitment to innovation, job creation, and its presence in Oak Ridge, Tennessee.
CEO Michael Feldschuh highlighted the importance of this non-dilutive funding in empowering clinicians with advanced tools for optimal fluid management and enhancing patient outcomes. LaunchTN, a public-private partnership, aims to foster entrepreneurship and economic development in Tennessee through various support mechanisms.
Positive
- Received $300,000 SBIR matching fund award from Launch Tennessee
- Funding supports development of next-generation blood volume analyzer
- Builds on existing Phase II award from Defense Health Agency
- Reinforces company's commitment to innovation and job creation in Tennessee
Negative
- None.
News Market Reaction 1 Alert
On the day this news was published, DXR gained 3.38%, reflecting a moderate positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
The SBIR Matching Fund Award Will Drive Our Innovation, Commercialization Efforts, and Job Creation
Oak Ridge, TN, Sept. 05, 2024 (GLOBE NEWSWIRE) -- Daxor Corporation (NASDAQ: DXR), the global leader in blood volume measurement technology, today announces Launch Tennessee (LaunchTN) awarded Daxor Corporation a
“This award is a welcome addition to Daxor’s long-standing and robust portfolio of non-dilutive funding, which focuses on leveraging public funding to empower clinicians with advanced tools for optimal fluid management to enhance patient outcomes,” said Michael Feldschuh, CEO and President of Daxor. “This award highlights our unwavering commitment to innovation, job creation, and our enduring presence in Oak Ridge. We are proud to be part of the vibrant Tennessee community and grateful for this recognition.”
LaunchTN is a public-private partnership that supports entrepreneurship and economic development with a goal to make Tennessee the best state in the country for startups. The organization fosters entrepreneurship, technology advancement and workforce development through capital access, commercialization, mentorship, marketing and partnerships. This award serves as a testament to Daxor’s commitment to the growth of its Tennessee-based operations. Learn more HERE.
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
FAQ
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