NEWTON, Mass., Aug. 10, 2017 /PRNewswire/ -- Dynasil
Corporation of America (NASDAQ: DYSL) today announced that its
contract research subsidiary, RMD Inc., has received two Phase II
grants totaling $2.1 million under
the National Institute of Health and NASA's Small Business
Innovation Research (SBIR) and Small Business Technology Transfer
(STTR) Programs.
"RMD world-class research continues to be at the vanguard of
medical imaging and scintillation technology," said Peter Sulick, Dynasil's CEO and President.
"RMD is developing cutting edge imaging probes for the National
Institute of Health and radiation tolerant detectors for NASA.
Our goal is to deliver lower cost, next generation medical
imaging probes to aid in the fight to eliminate cancer and
radiation hard gamma-ray and neutron detectors to enable NASA to
conduct long term space research missions."
RMD received two Phase II grants totaling $2.1 million for the following:
- Imaging Beta ProbeTM - RMD is developing a
new PET probe, the Imaging Beta ProbeTM
(IBPTM), intended for rapid localization of cancer
lesions. At the heart of this probe is RMD's new hybrid
scintillator coupled to a silicon photomultiplier. The
IBPTM is designed to provide continuous real time audio
and visual feedback to the surgeon. After excision of cancerous
tissue, the IBPTM will enable the surgeon to check the
tumor bed and surrounding margins for any remaining cancerous cells
which previously might have gone undetected because they were
obscured by background radiation or overlying tissue.
- Radiation Tolerant Gamma-ray and Neutron Detector -
Scintillation based radiation detectors are an essential tool for
space applications such as planetary science, astrophysics,
heliophysics and space weather. Unfortunately, scintillator
efficiency decays with increased exposure to radiation. Long term
space exploration missions to hostile environments, such as those
around Jupiter, Venus or Mercury expose scintillators to large
ionizing radiation doses that will render current scintillation
material useless.
To address this problem, RMD is developing radiation tolerant,
temperature invariant scintillation modules using advanced
materials to provide high performance gamma-ray and neutron
spectroscopy in a single detector. Our research will result
in a large volume, high performance detector module, rigorously
tested for space exploration.
"From the development of medical imaging probes designed to
assist doctors in removing cancerous lesions to gamma-ray and
neutron detectors that enable NASA to conduct long term deep space
mission, the Phase II research projects we are embarking on through
these SBIR/STTR Programs embody some of the world's most pressing
medical and space physics research needs," said Kanai Shah, Ph. D. President of Dynasil's RMD
subsidiary. "RMD is proud to partner with the National
Institute of Health and NASA on these initiatives."
About Dynasil
Dynasil Corporation of America
(NASDAQ: DYSL) develops and manufactures optics and photonics
products, optical detection and analysis technology and components
for the homeland security, medical and industrial markets.
Combining world-class expertise in research and materials science
with extensive experience in manufacturing and product development,
Dynasil is commercializing products including dual-mode radiation
detection solutions for Homeland Security and commercial
applications and sensors for non-destructive testing. Dynasil
has an impressive and growing portfolio of issued and pending U.S.
patents. The Company is based in Newton, MA, with additional operations in MA,
MN, NY, NJ and the United Kingdom.
More information about the Company is available at
www.dynasil.com.
Safe Harbor
This news release may contain
forward looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. These
forward-looking statements regarding future events and our future
results are based on current expectations, estimates, forecasts,
and projections and the beliefs and assumptions of our management,
including, without limitation, our expectations regarding results
of operations, the commercialization of our technology and the
strength of our intellectual property portfolio. These
forward-looking statements may be identified by the use of words
such as "plans", "intends," "may," "could," "expect," "estimate,"
"anticipate," "continue" or similar terms, though not all
forward-looking statements contain such words. The actual
results of the future events described in such forward looking
statements could differ materially from those stated in such
forward looking statements due to a number of important factors.
These factors that could cause actual results to differ from those
anticipated or predicted include, without limitation, the size and
growth of the potential markets for our products and our ability to
serve those markets, the rate and degree of market acceptance of
any of our products, general economic conditions, costs and
availability of raw materials and management information systems,
our ability to obtain and maintain intellectual property protection
for our products, competition, the loss of key management and
technical personnel, our ability to obtain timely payment of our
invoices to governmental customers, litigation, the effect of
governmental regulatory developments, the availability of financing
sources, our ability to identify and execute on acquisition
opportunities and integrate such acquisitions into our business,
and seasonality, as well as the uncertainties set forth in
the Company's 2016 Annual Report on Form 10 K, as filed on
December 21, 2016, including the risk
factors contained in Item 1a, and from time to time in the
Company's other filings with the Securities and Exchange
Commission. The Company disclaims any intention or
obligation to update any forward-looking statements, whether as a
result of new information, future events or otherwise.
Contact:
Patty Kehe
Corporate Secretary
Dynasil Corporation of America
Phone: (617) 668-6855
pkehe@dynasil.com
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SOURCE Dynasil Corporation of America