VirnetX Establishes CRADA with AFRL/RI
Rhea-AI Summary
VirnetX Holding (NYSE: VHC) has announced a Cooperative Research and Development Agreement (CRADA) with the Air Force Research Laboratory Intelligence Systems Directorate (AFRL/RI). This collaboration aims to enhance cybersecurity and Zero Trust technologies for integrated surveillance, reconnaissance operations, and Air Force targeting processes.
The CRADA is expected to provide a pathway to secure and obfuscate Air Force targeting, processing, dissemination, and intelligence technology. This initiative will allow the Air Force to leverage the latest commercially available cybersecurity technology and reduce its IT attack surface in a joint, all-domain environment.
Positive
- Collaboration with Air Force Research Laboratory Intelligence Systems Directorate
- Potential to enhance Air Force cybersecurity capabilities
- Opportunity to apply VirnetX's technology in military applications
Negative
- None.
News Market Reaction 1 Alert
On the day this news was published, VHC gained 0.92%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Cooperative Research and Development Agreement with the Air Force Research Laboratory Intelligence Systems Directorate
About CRADA
A Cooperative Research and Development Agreement (CRADA) is an agreement between a Federal laboratory and a non-Federal party to perform collaborative research and development in any area that is consistent with the Federal laboratory's mission. CRADAs are a frequently used mechanism for formalizing interactions and partnerships between private industry and national research labs and the only mechanism for receiving funds from non-Federal sources for collaborative work.
About VirnetX
VirnetX Holding Corporation is an Internet security software and technology company with industry-leading, patented technology for Zero Trust Network Access ("ZTNA") based secure network communications. VirnetX's team includes experts on technologies related to hiding, securing, and transporting critical communications data, using advanced cryptography, PKI, block chain, and more, between sub-system components and mission tools, capabilities, and applications for secure end-to-end communications. VirnetX's software and technology solutions, including its Secure Domain Name Registry and Technology, VirnetX One™, VirnetX War Room™, and VirnetX Matrix™, are designed to be device and location independent, and enable a secure real-time communication environment for all types of enterprise applications, services, and critical infrastructures. For more information, please visit www.virnetx.com.
Special Note Regarding Forward-Looking Statements
This press release should be read in conjunction with our filings with the Securities and Exchange Commission. Statements herein may constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act").
These forward-looking statements are based upon our current expectations, estimates, assumptions, and beliefs concerning future events and conditions and may discuss, among other things, expectations regarding the success of our collaboration with AF, our continued research and development of cybersecurity and Zero Trust technologies, and the ability of our technologies to support integrated surveillance and reconnaissance operations and AF and joint targeting processes, to allow the security and obfuscation of AF targeting, processing, dissemination, and intelligence technology, and to enable AF to incorporate cybersecurity technology and reduce its IT attack surface. Any statement that is not historical in nature is a forward-looking statement and may be identified by the use of words and phrases such as "anticipates," "believes," "estimates," "expects," "intends," "plans," "predicts," "projects," "will be," "will continue," "will likely result in," and similar expressions. Readers are cautioned not to place undue reliance on forward-looking statements. Forward-looking statements are necessarily subject to risks, uncertainties, and other factors, many of which are outside our control, and could cause actual results to differ materially from such statements and from our historical results and experience. These risks, uncertainties and other factors include, but are not limited to risks detailed in our filings with the Securities and Exchange Commission (the "SEC"), including our Annual Report on Form 10-K, filed on March 15, 2024. Readers are cautioned that it is not possible to predict or identify all the risks, uncertainties and other factors that may affect future results and that the risks described herein should not be considered a complete list. Any forward-looking statement speaks only as of the date on which such statement is made.
EXCEPT AS REQUIRED BY LAW, WE UNDERTAKE NO OBLIGATION TO UPDATE OR REVISE ANY FORWARD-LOOKING STATEMENT AS A RESULT OF NEW INFORMATION, FUTURE EVENTS OR OTHERWISE.
Contact:
Investor Relations
VirnetX Holding Corporation
415.505.0456
ir@virnetx.com
View original content:https://www.prnewswire.com/news-releases/virnetx-establishes-crada-with-afrlri-302271350.html
SOURCE VirnetX Holding Corporation
FAQ
What is the purpose of VirnetX's CRADA with AFRL/RI?
How will the CRADA benefit the Air Force (AF)?
What technologies are involved in VirnetX's collaboration with AFRL/RI?
When did VirnetX (VHC) announce the CRADA with AFRL/RI?
