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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:
"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
Dynasil Corporation of America
Phone: (617) 668-6855
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