Daxor Corporation Awarded $305K Grant from the National Institutes of Health to Develop Blood Volume Guidance Software in Sepsis Patients

Oak Ridge, TN, Sept. 11, 2023 (GLOBE NEWSWIRE) -- Daxor Corporation (NASDAQ: DXR), the global leader in blood volume measurement technology, today announced that the National Institutes of Health (NIH) National Institute of General Medical Sciences (NIGMS) has awarded the Company a $305K Phase I Small Business Innovative Research (SBIR) grant to support the development of the Sepsis FLO (Sepsis Fluid Optimizer), a clinical decision support tool designed to precisely guide blood volume management and treatment in sepsis patients.

“Sepsis impacts 1.7 million Americans annually, leading to 270,000 deaths and $62 billion in costs,” said Michael Feldschuh, CEO and President of Daxor Corporation. “There is a significant unmet need for a rapid bedside test with a clinically validated sepsis fluid guidance support tool based on precise, objective assessment of circulating blood volume. Fluid management guided by our 98% accurate blood volume diagnostic represents a potential paradigm shift in clinical practice, which to date has been based on surrogate markers that lack sensitivity and specificity.”

“This award represents our seventh SBIR grant/contract to support the continued development of our next generation technologies,” commented Jonathan Feldschuh, Chief Science Officer of Daxor. “The development of a clinical decision-support system will help clinicians translate blood volume analysis results into actionable treatment decisions.”

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:
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1-516-222-2560
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