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Aethlon Medical, Inc. (NASDAQ:AEMD) announced that it has extended its contract with the Defense Advanced Research Projects Agency, or DARPA.
Aethlon Medical, Inc. (NASDAQ:AEMD) announced that it has extended its contract with the Defense Advanced Research Projects Agency, or DARPA.
According to the press release:
The Company originally entered into the initial DARPA contract on September 30, 2011. DARPA entered into this contract extension in order to exercise its option to continue the contract for year five, the final year of the contract.
Under the DARPA contract, the company has been engaged to develop a therapeutic device to reduce the incidence of sepsis, a fatal bloodstream infection that often results in the death of combat-injured soldiers. The award from the Defense Advanced Research Projects Agency is a fixed-price contract that requires the achievement of multiple, incremental milestones to receive the full award during each year of the contract. The Company has achieved 23 milestones under the contract, which have resulted in revenues of approximately $4,872,000.
Click here to read the full press release from Aethlon Medical.