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Micro Cap
Market Cap £33.0m
Enterprise Value £34.1m
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Daxor Corporation Receives $200K Matching Fund Award from Launch Tennessee

Fri 1st October, 2021 1:30pm
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The SBIR/STTR Matching Fund Grant Will Advance the Company’s Innovation and
Commercialization Efforts, and Job Creation

Oak Ridge, TN, Oct. 01, 2021 (GLOBE NEWSWIRE) -- Daxor
(NYSE: DXR), the global leader in blood volume measurement technology, today
announced Launch Tennessee (LaunchTN) has awarded Daxor Corporation a
SBIR/STTR matching fund grant for Daxor’s Phase II award from the Department
of Defense in the amount of $200K for the development of its next-generation
point-of-care blood volume analyzer.

“Receiving this grant is a tremendous validation of our efforts to help
clinicians achieve optimal fluid management and improve patient outcomes by
developing world-class technology. This award recognizes our ongoing
dedication to driving innovation, creating jobs, and maintaining our
facilities in Oak Ridge,” commented Michael Feldschuh, Daxor’s CEO and
President. “We are proud of our affiliation with the great state of
Tennessee and are grateful to participate in this opportunity.”

With more than 80 applications received this year, these coveted and highly
selective awards were given to leading companies in the life sciences/biotech,
advanced energy/cleantech, agtech, or automotive/mobility industry. The
selection criteria mandated that each grant recipient had to contribute to the
overall economic development of Tennessee and aid in LaunchTN’s mission to
support entrepreneurship and innovation across the state.

These two (SBIR and STTR) initiatives are sometimes referred to as the
Nation’s largest source of early-stage funding for start-ups and small
business. On the state level, the aim of the grant is to stimulate the
statewide economy by facilitating capital formation, market building and
nurturing Tennessee’s entrepreneurial ecosystem. In its fourth year, the
SBIR/STTR Matching Fund is a strategic initiative developed and administered
by LaunchTN to advance the commercialization of technology innovation and job
creation across the state.

About Daxor Corporation

Daxor Corporation (NYSE: 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. 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

About Launch Tennessee

Launch Tennessee
(https://www.globenewswire.com/Tracker?data=WFz0MRdVI9J5jjTeiC4F3-CgSgXYJgkz1uj-oMAg7fxFcaKqArQPT-0ADlqTgWs1y9zHXTGzz6PV5q6OXrpAOBMim-cqGmgzFmBdkckGWkirod005-HZmSqV072JxifuAMTkDlfL-aKVg-a-AwPpbu89V_cBxwm7y0bFl7MzEcEXnlA9xO49ptmMiQJLHRxdTIZSYHGVPJ7u5YqJP7YvfUP_tVwVlk-OhLLDALqHoeuOPwLyQ6yviTlHqbeGnjUafKrLFd3eCsFFRB4YmtFhJjMuo_gw8nCh_Jt3NEYFMsRw3BQ-iNyrLNSJhfdrOHhG) (LaunchTN)
is a public-private partnership with a vision to make Tennessee the most
startup-friendly state in the nation. Our mission is to empower a
high-functioning network of resources focused on core priorities that support
Tennessee’s entrepreneurial ecosystem. Through our network of Entrepreneur
Centers and partner organizations across the state, Launch Tennessee fosters
collaboration among entrepreneurs, the private sector, capital sources,
institutions, and government to offer entrepreneurs what they need to succeed
and stay in Tennessee to build companies and create jobs.

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


GlobeNewswire, Inc. 2021
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