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CHF Solutions Initiates Strategic Collaboration with Daxor Corporation to Assist in the Management of Patients with Fluid Overload

Nov 1, 2018

EDEN PRAIRIE, Minn., Nov. 01, 2018 (GLOBE NEWSWIRE) -- CHF Solutions, Inc. (Nasdaq: CHFS) announced today that it has entered into a collaboration agreement with Daxor Corporation (NYSE:DXR) to explore potential synergies between the company’s Aquadex FlexFlow® System and Daxor’s BVA-100 Blood Volume Analyzer.  The company believes that the two technologies can be used together to assess a patient’s fluid volume status and assist in informing on the clinical management of a fluid overloaded patient.

The collaboration will initiate with a small clinical evaluation of the benefits of blood volume measurement and its potential to inform ultrafiltration therapy management with the company’s Aquadex FlexFlow system.  Published data has shown that 24 percent of fluid overloaded patients are readmitted to the hospital within 30 days and approximately 50 percent within six months.  The companies intend to determine synergies of using the BVA-100 to assist in informing clinicians on fluid volume status including patient selection, when to start ultrafiltration therapy, and how to manage therapy to achieve positive clinical results for patients. 

“We believe that ultrafiltration with the Aquadex FlexFlow system is an essential component to effectively manage fluid overloaded patients who have failed diuretics,” said John Erb, chairman and CEO of CHF Solutions.   “We believe that this collaboration with Daxor is another important building block of our strategy to evaluate diagnostic tools which may refine and maximize fluid management therapy.” 

“Daxor seeks to supply healthcare providers with the means to improve heart failure treatment outcomes.  We feel that the combination of our precision diagnostic combined with Aquadex FlexFlow therapy for fluid overload may result in significantly improved patient care,” commented Michael Feldschuh, CEO of Daxor Corporation.  “We further believe that this relationship has tremendous potential to benefit patients and look forward to exploring the many benefits of working with CHF Solutions.”

About CHF Solutions

CHF Solutions, Inc. (Nasdaq:CHFS) is a medical device company focused on commercializing the Aquadex FlexFlow system for aquapheresis therapy. The Aquadex FlexFlow system is indicated for temporary (up to eight hours) ultrafiltration treatment of patients with fluid overload who have failed diuretic therapy and extended (longer than 8 hours) ultrafiltration treatment of patients with fluid overload who have failed diuretic therapy and require hospitalization. All treatments must be administered by a healthcare provider, under physician prescription, both of whom having received training in extracorporeal therapies. The company's mission is to predict, measure, and control patient fluid balance through science, collaboration, and innovative medical technology. CHF Solutions is a Delaware corporation headquartered in Minneapolis, Minnesota with wholly owned subsidiaries in Australia and Ireland. The company has been listed on the NASDAQ Capital Market since February 2012.

About Daxor Corporation

Daxor Corporation is an innovative medical instrumentation and biotechnology company. Daxor manufactures the BVA-100 Blood Volume Analyzer, the first instrument approved by the FDA to provide rapid direct measurement of a patient’s blood volume. Daxor believes that the BVA-100 Blood Volume Analyzer has the potential to transform therapy in a broad range of surgical and medical conditions. It is Daxor’s goal, working in conjunction with hospitals and clinics, to achieve that possibility. Ultimately, its mission is to help hospitals and physicians incorporate Daxor’s BVA-100 diagnostic to significantly improve the quality of patient care.

Forward-Looking Statements

Certain statements in this release may be considered forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including without limitation, statements relating to the potential synergies between Aquadex FlexFlow System and Daxor’s BVA-100 Blood Volume Analyzer, the use of the two technologies conjunctively in the management of fluid overloaded patients who have failed diuretics, the potential benefits of the collaboration, the company’s strategy to evaluate diagnostic tools which may refine and maximize fluid management therapy, the potential of Daxor’s BVA-100 Blood Volume Analyzer to transform therapy in a broad range of surgical and medical conditions. 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 ability to execute on our commercial strategy, the possibility that we may be unable to raise sufficient funds necessary for our anticipated operations, 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, our ability to integrate acquired businesses, our expectations regarding anticipated synergies with and benefits from acquired businesses, and other risks and uncertainties described in our filings with the SEC.  Forward-looking statements speak only as of the date when made.  CHF Solutions 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.

CONTACTS:

INVESTORS:
Claudia Napal Drayton
Chief Financial Officer
CHF Solutions, Inc.
952-345-4205
ir@chf-solutions.com

-or-
Bret Shapiro
Managing Partner
CORE IR
516-222-2560
brets@coreir.com
www.coreir.com

MEDIA
Jules Abraham
JQA Partners, Inc.
917-885-7378
jabraham@jqapartners.com

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Source: CHF Solutions, Inc.