Daxor announces Florida expansion; prototype for the future.

NEW YORK--(BUSINESS WIRE)--March 13, 1995--Daxor Corporation, from its headquarters in the Empire Building, announced today that it has signed an agreement with United States Cryobanks of Florida, located in Altimo Springs, a suburb of Orlando, Fla., to develop "the prototype facility of the future."

According to Daxor Corporation president Joseph Feldschuh M.D. "this concept will unite parallel cryobanking technologies involving human semen and blood under one roof, creating a cryo-center." Daxor has received an initial 35.2% ownership in the United States Cryobank of Florida in exchange for sharing its proprietary methodology and technology for processing, freezing, and storing of human semen and blood with the Florida company. Furthermore, U.S. Cryobanks will be the Florida distributor for anonymous donor semen from Daxor Corporation's Idant Laboratory Division. This move signals the start of what Dr. Feldschuh describes as "... the initial step in the expansion process throughout the United States." Daxor Corporation, through its Idant division owns the distinction of being the oldest and largest human semen bank in the United States founded in 1971, as well as being the nation's first frozen autologous blood banking facility established in 1985.

Approximately 12% of all couples have fertility problems. Of these, 50% are male factor related. Modern insemination techniques coupled with semen cryobanking technology are highly effective in aiding couples faced with these problems. Hundreds of thousands of healthy children have been conceived by artificial insemination since the early 1970s.

There are approximately 12 million blood transfusions annually in the United States administered to 4 million people. Of those, there are an estimated 50,000 - 75,000 cases of various forms of hepatitis transmitted through the transfused blood. Due to inadequate record keeping, patient follow-up and reporting, most cases of HIV infection and hepatitis from transfused blood are never reported. Freezing one's own blood allows an individual in need of a transfusion to receive the only true safe blood available, one's own. Also, because blood can be frozen, it can be quarantined while the donor is tested initially and re-tested for HIV six months later, before the blood is released. This will enable an individual in need of a donor transfusion to receive safe blood even if he has not stored for himself. The AIDS virus may be undetectable for up to six months. Current blood banking practices are such that donor blood is received and sold within 42 days or less, making it impossible to have a certainty that the HIV virus is not present. Specimens from sperm donors are quarantined for a minimum of six months before they are released. In contrast, donations from blood donors are only tested initially and released in 42 days. Daxor uses an FDA approved technique that permits the preservation of human frozen blood for up to ten years.

CONTACT: Daxor Corporation, New York 

Stephen Feldschuh, 212/244-0555