NEW YORK – March 2, 2020 – Daxor Corporation (NYSE MKT: DXR), an investment company with innovative medical instrumentation and biotechnology operations focused on blood volume measurement, today announces active engagement with both hospitals and government agencies in the military and civilian sectors regarding the use of its technology to help guide fluid management of critically ill patients with COVID-19.
The BVA-100 is 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, and has been shown in a prospective randomized control trial to reduce mortality by as much as 66% in patient populations suffering predominantly from respiratory distress and septic shock.
“Daxor is fully engaged with its clinical consultants in reaching out to care teams at hospitals with our BVA device in the event they see a surge in patients suffering from acute respiratory distress from COVID-19,” said Michael Feldschuh, CEO of Daxor Corporation. “In addition, we are engaging with civilian and military agencies to facilitate acquisition of more devices due to the applicability of our diagnostic to be of considerable potential benefit in treating and triaging patients suffering from COVID-19. The BVA system gives the opportunity for precise fluid management as well as knowledge of capillary permeability status, leading to better survival.”
There have been 65 BVA devices widely installed throughout the United States since inception, with over 40,000 tests performed, and the device has been extensively studied in peer-reviewed journals. The BVA test informs care teams and helps guide treatment so they can balance the correct amount of fluids and blood to give patients to maintain effective circulation. Patients suffering from acute respiratory distress syndrome have been described as “walking a tightrope” between too little and too much fluids by clinicians.
“Daxor has an inventory of analyzers ready for deployment to add to the existing footprint of hospitals with our test, “said Soren Thompson, Vice President of Business Development. “This is a technology already in hospital use that can be scaled up. In regards to the government, we are currently under contract with the Department of Defense developing BVA for the military. We see the current outreach efforts as building on the foundation of years of interest in our technology and the potential for BVA to play an important role in the effort to fight COVID-19 deaths if this crisis worsens.”
More information can be found on www.daxor.com/critical-care
About Daxor Corporation
Daxor Corporation (NYSE: DXR) is an innovative medical instrumentation and biotechnology company focused on blood volume measurement. 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 has the potential to improve hospital performance metrics in a broad range of surgical and medical conditions including heart failure and critical care by better informing treatment strategies, resulting in significantly better patient outcomes. Our mission is to partner with clinicians to incorporate BVA technology into standard clinical practice and improve the quality of life for patients. For more information please visit our website at https://www.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.
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