Aethlon Medical (OTC:AEMD) said today it extended its contract with DARPA to develop a device to reduce the incidence of sepsis, a commonly fatal infection encountered by combat-injured soldiers.
The contract with DARPA was originally inked in September 2011 and has been extended to its 5th year with Aethlon, the company said. The reward is a fixed-price contract that requires the achievement of incremental milestones to receive the full award during the year.
So far, Aethlon has achieved 23 milestones with the contract and brought in approximately $4.9 million in revenues from DARPA, the company said.
In August, Aethlon said it plans to file for Investigative Device Exemption status for its HemoPurifier after the company’s contract with DARPA expires, and reported slimmed losses for the company and investors.
The company is positioned to “build and collect almost $200,000 related to a manufacturing milestone” the company had achieved, according to CFO Jim Frakes.
The last few months have been busy for the blood purifying company, which listed on the Nasdaqin July after raising $6 million in a follow-on stock offering in June.
Aethlon grabbed headlines last fall when the Hemopurifier was used to treat a critically ill Ebola patient in Germany who later recovered.
The post Aethlon Medical extends DARPA contract appeared first on MassDevice.
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