SAN DIEGO, April 16, 2013 /PRNewswire/ -- Aethlon Medical, Inc. (AEMD), today released the following note authored by its Chairman and CEO, Jim Joyce.
As disclosed in yesterday's SEC form 8-K submission, we entered into a subcontract agreement with Battelle Memorial Institute (Battelle) to provide services underlying a $22.8 million prime contract that was recently awarded to Battelle by the Defense Advanced Research Projects Agency (DARPA). The objective of this contract program is to integrate component technologies developed in DARPA's Dialysis Like Therapeutics (DLT) program into medical device that would save military and civilian lives by effectively treating sepsis. Beyond expanding our opportunity in the DLT program, we are honored to have the opportunity to work with Battelle (the world's largest independent research and development organization) on this endeavor.
We were previously awarded a $6.8 million contract from DARPA to develop two technology components in the DLT program. Our first component objective has been the development of a therapeutic cartridge that selectively eliminates septic precursors, bacterial toxins, viral pathogens, and disease enhancing exosomes from the entire circulatory system. Our second component objective is the creation of a blood processing system that would allow for the delivery of various extracorporeal therapies without the need to administer systemic anticoagulants. We are now in year two of this five-year contract and have achieved eleven DLT milestone objectives to date.