The SBIR/STTR Matching Fund Grant Will Advance the Company’s Innovation and Commercialization Efforts, and Job Creation
Oak Ridge, TN, Oct. 01, 2021 (GLOBE NEWSWIRE) — Daxor Corporation (NYSE: DXR), the global leader in blood volume measurement technology, today announced Launch Tennessee (LaunchTN) has awarded Daxor Corporation a SBIR/STTR matching fund grant for Daxor’s Phase II award from the Department of Defense in the amount of $200K for the development of its next-generation point-of-care blood volume analyzer.
“Receiving this grant is a tremendous validation of our efforts to help clinicians achieve optimal fluid management and improve patient outcomes by developing world-class technology. This award recognizes our ongoing dedication to driving innovation, creating jobs, and maintaining our facilities in Oak Ridge,” commented Michael Feldschuh, Daxor’s CEO and President. “We are proud of our affiliation with the great state of Tennessee and are grateful to participate in this opportunity.”
With more than 80 applications received this year, these coveted and highly selective awards were given to leading companies in the life sciences/biotech, advanced energy/cleantech, agtech, or automotive/mobility industry. The selection criteria mandated that each grant recipient had to contribute to the overall economic development of Tennessee and aid in LaunchTN’s mission to support entrepreneurship and innovation across the state.
These two (SBIR and STTR) initiatives are sometimes referred to as the Nation’s largest source of early-stage funding for start-ups and small business. On the state level, the aim of the grant is to stimulate the statewide economy by facilitating capital formation, market building and nurturing Tennessee’s entrepreneurial ecosystem. In its fourth year, the SBIR/STTR Matching Fund is a strategic initiative developed and administered by LaunchTN to advance the commercialization of technology innovation and job creation across the state.
About Daxor Corporation
Daxor Corporation (NYSE: 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 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 enhances 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 multiple measures of patient outcomes. 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.
About Launch Tennessee
Launch Tennessee (LaunchTN) is a public-private partnership with a vision to make Tennessee the most startup-friendly state in the nation. Our mission is to empower a high-functioning network of resources focused on core priorities that support Tennessee’s entrepreneurial ecosystem. Through our network of Entrepreneur Centers and partner organizations across the state, Launch Tennessee fosters collaboration among entrepreneurs, the private sector, capital sources, institutions, and government to offer entrepreneurs what they need to succeed and stay in Tennessee to build companies and create jobs.
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.
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