Company Received Funding from NIH to Accelerate New Clinical Decision Support Software For Use With Daxor’s Blood Volume Analyzer for Heart Failure Treatment
Oak Ridge, TN, July 18, 2022 (GLOBE NEWSWIRE) — Daxor Corporation (Nasdaq: DXR), the global leader in blood volume measurement technology, announces today that it participated in the National Institute of Health (NIH) funded Innovation Corps (I-Corps™) program to accelerate commercialization of Daxor’s clinical decision support software (CDSS) to guide fluid management in acute decompensated heart failure.
The I-Corps program is a highly-selective immersive, entrepreneurial training program open only to actively-funded NIH grant awardees. The program prepares businesses to accelerate the economic and societal benefits of NIH-funded projects that are ready to move toward commercialization. Participation in this program was funded by the NIH as a NIH Administrative Supplement to Daxor’s ongoing NHLBI SBIR grant and disbursed additional funds to the company as well to support its participation in the program.
“We believe clinicians and hospitals will benefit from our CDSS for insights and guidance to reduce mortality, readmissions, and length of stay for heart failure patients,” said Michael Feldschuh, President and CEO of Daxor. “Our proprietary and patented CDSS pairing with our blood volume diagnostic will drive substantial increase in use of blood volume analysis while improving outcomes and reducing customer costs.”
“Participating in the I-Corps program far exceeded our expectations and the learnings are extremely beneficial in accelerating the commercial rollout of our new software,” said Shawn Urban, Daxor Senior Software Engineer. “It was a great honor to be selected for this elite course and the interaction with the I-Corps staff and other participants was highly valuable.”
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 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. Over 60,000+ 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 multicenter trials in the areas of COVID-19 and 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.
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:
Sr. Managing Partner, CORE IR