Daxor Corporation Awarded Support from the National Institutes of Health (NIH) Catalyze Preclinical Services Program

Support for Development of Daxor’s Non-Nuclear Tracer for Next Generation Blood Volume Analyzer Systems Aims to Deliver Gold Standard Accuracy with Increased Access, Ease of Use, and Frequency of Testing

Oak Ridge, TN, Oct. 04, 2023 (GLOBE NEWSWIRE) -- Daxor Corporation (NASDAQ: DXR), the global leader in blood volume measurement technology, today announces it has been accepted into the National Institutes of Health (NIH) Catalyze Preclinical Services Program. This program supports preclinical development, including studies and activities needed to meet the regulatory requirements for therapeutic and device submissions of technologies relevant to the National Heart, Lung, and Blood Institute (NHLBI)’s mission. This effort will be done in collaboration with two nationally recognized contract research organizations, to support the continued development of Daxor’s non-nuclear fluorescent blood volume analyzer (BVA) device.

“This exciting initiative will facilitate a tracer with practical applications in settings as diverse as a doctor’s office to critical care units or even intraoperatively as well. We are gratified to receive the valuable support of the NIH’s Catalyze Program which recognizes the significant impact that this technology will bring once commercialized. The capacity to improve outcomes for millions of patients at multiple points within the healthcare system is exactly the innovative work that fits within the scope of the Catalyze Program and Daxor’s vision - optimal blood for all,” said Michael Feldschuh, Daxor’s CEO and President.

• The Catalyze Program is an ultra-selective initiative to fund the most promising future medical innovations by the NIH.
• The Catalyze Program is designed to fund key preclinical research of technologies and transformative platforms by NHLBI.
• Daxor will receive support and direct funding from third-party labs to conduct needed preclinical work toward an FDA submission of its next generation non-nuclear tracer system.
• This initiative is separate from the existing initiative to launch a next generation bedside analyzer that is undergoing validation in preparation for an FDA submission slated for before the end of 2023.

“We are honored to have been selected by the NIH into their Catalyze Program to support the acceleration of our non-nuclear tracer development efforts,” said Jonathan Feldschuh, Chief Scientific Officer at Daxor. “Our non-nuclear blood volume measurement device will be a state-of-the-art blood volume diagnostic that will expand use of our test into even more clinical settings and for more indications and will be designed to work on our new point-of-care platform.”

More information about the Catalyze Program can be found at https://nhlbicatalyze.org/.

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:
Bret Shapiro
Sr. Managing Partner, CORE IR
1-516-222-2560
brets@coreir.com