Daxor Corporation Announces Agreement In Principal, With Oxford Instruments Inc.NEW YORK--(BUSINESS WIRE)--July 8, 1996--Daxor Corporation (DXR DXR Danbury Municipal Airport, Danbury CT (airport code) DXR Data Extraction and Recording DXR X-Director DXR Dynamic Extended Resolution ) announces that it has reached an agreement, in principal, with Oxford Instruments Inc., Nuclear Measurements Group (NMG NmG No More Gas (Myers Motors electric vehicle) NMG Navy Metrication Group NMG Nuera Media Gateway NMG Network Media Gateway NMG Network Management Gateway NMG Network Measurement Group ) to manufacture Daxor's BVA-100 Blood Volume Analyzer. A draft agreement has been approved by Glenn Epstein, president of Oxford and by Dr. Joseph Feldschuh, president of Daxor. The agreement is subject to the approval by Oxford's attorney. It is expected that formal signed contracts will be exchanged during the week of July 15, 1996. Oxford Instruments NMG is based in Oakridge, Tenn. and is a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of Oxford Instruments PLC. Oxford is an international corporation headquartered in Oxford, England, specializing in the design, manufacture, and distribution of scientific and medical instruments. Oxford is a 28 year old public corporation listed on the London Stock Exchange London Stock Exchange London marketplace for securities. It was formed in 1773 by a group of stockbrokers who had been doing business informally in local coffeehouses. with annual sales of $225 million. The original BVA-100 prototypes were built by the Nucleus Corporation which was acquired by Oxford Instruments. Oxford has already shared proprietary information with Daxor that will be used in the updated 510K filing with the FDA FDA abbr. Food and Drug Administration FDA, n.pr See Food and Drug Administration. FDA, n.pr the abbreviation for the Food and Drug Administration. which is required to obtain FDA approval for marketing the BVA-100. Daxor Corporation holds the US patent, European Common Market, and Japanese Patents for the BVA-100 instrument. The BVA-100 is the first semi-automated medical device that measures the quantity of blood in the human body. This device will be useful for determining the amount of blood loss during conditions such as surgery. CONTACT: Daxor Corp., New York Dr. Joseph Feldschuh, President & CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Angela Ramirez, Investor Relations 212/244-0555 |
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