DAXOR CORPORATION AWARDED GRANT FROM THE CENTER FOR ADVANCING POINT OF CARE TECHNOLOGIES (CAPCAT) TO DEVELOP A POINT-OF-CARE ...
February 05 2021 - 7:30AM
Daxor Corporation (NYSE MKT: DXR), the global leader in blood
volume measurement technology, announces today that it has been
awarded a grant from the Center for Advancing Point of Care
Technologies (CAPCaT), a program run by the Massachusetts Medical
Device Development Center (M2D2) funded by the National Heart,
Lung, and Blood Institute and the National Center for Complementary
and Integrative Health, both part of the National Institutes of
Health (NIH), to develop a smart, point-of-care heart failure
diagnostic for quantification of intravascular fluid overload to
enable precision diuretic dosing.
“This exciting award accelerates our active
research and development program for our next-generation devices to
make precise blood volume measurement both easier and quicker to
perform, whether in a hospital lab, at the bedside, or even in the
patient’s own home,” said Michael Feldschuh, President and CEO of
Daxor.
Heart failure treatment innovations are urgently
needed to improve outcomes and reduce the cost of care. Over 6
million Americans suffer from heart failure, one of the most common
and deadly diseases in the United States, leading to nearly 1
million deaths and 1 million hospitalizations annually. The
point-of-care diagnostics market is projected to grow to $46.7
billion by 2024. Factors such as increasing incidence of target
conditions, growing government support, and rising preference for
home healthcare across the globe are driving the growth of the
market.
“Daxor submitted an excellent proposal to our
most recent call for applications and rose to the top of a very
competitive field,” said David McManus, Co-Principal Investigator
of CAPCaT and Professor and Chair of the Department of Medicine at
UMass Medical School. “We look forward to working with them to
advance their product toward the commercial market.”
This work is being funded by NIH grant 1U54HL143541.
About Daxor Corporation
Daxor Corporation (NYSE: DXR) is the global
leader in blood volume measurement technology focused on blood
volume testing innovation (organized as an investment company with
fully-owned innovative medical instrumentation and biotechnology
operations). 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.
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 ShapiroSr.
Managing Partner, CORE IR516-222-2560brets@coreir.com
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