Cooperative Research and Development Agreement
with the Air Force Research Laboratory Intelligence Systems
Directorate
ZEPHYR COVE,
Nev., Oct. 9, 2024 /PRNewswire/ -- VirnetX
Holding Corporation (NYSE: VHC) today announced that it has
entered into a Cooperative Research and Development Agreement
(CRADA) with the Air Force (AF) Research Laboratory Intelligence
Systems Directorate (AFRL/RI) to facilitate collaboration on
cybersecurity and Zero Trust technologies to support integrated
surveillance and reconnaissance operations as well as AF and joint
targeting processes. The work conducted under this CRADA is
expected to provide the avenue to secure and obfuscate AF
targeting, processing, dissemination, and intelligence technology,
enabling AF to take advantage of the latest research and
developments in commercially available cybersecurity technology and
reduce its IT attack surface in a joint, all-domain
environment.
About CRADA
A Cooperative Research and Development Agreement
(CRADA) is an agreement between a Federal laboratory and a
non-Federal party to perform collaborative research and development
in any area that is consistent with the Federal laboratory's
mission. CRADAs are a frequently used mechanism for formalizing
interactions and partnerships between private industry and national
research labs and the only mechanism for receiving funds from
non-Federal sources for collaborative work.
About VirnetX
VirnetX Holding Corporation is an Internet
security software and technology company with industry-leading,
patented technology for Zero Trust Network Access ("ZTNA") based
secure network communications. VirnetX's team includes experts on
technologies related to hiding, securing, and transporting critical
communications data, using advanced cryptography, PKI, block chain,
and more, between sub-system components and mission tools,
capabilities, and applications for secure end-to-end
communications. VirnetX's software and technology solutions,
including its Secure Domain Name Registry and Technology, VirnetX
One™, VirnetX War Room™, and VirnetX Matrix™, are designed to be
device and location independent, and enable a secure real-time
communication environment for all types of enterprise applications,
services, and critical infrastructures. For more information,
please visit www.virnetx.com.
Special Note Regarding Forward-Looking
Statements
This press release should be read in conjunction
with our filings with the Securities and Exchange Commission.
Statements herein may constitute "forward-looking statements"
within the meaning of Section 27A of the Securities Act of 1933, as
amended (the "Securities Act"), and Section 21E of the Securities
Exchange Act of 1934, as amended (the "Exchange Act").
These forward-looking statements are based upon
our current expectations, estimates, assumptions, and beliefs
concerning future events and conditions and may discuss, among
other things, expectations regarding the success of our
collaboration with AF, our continued research and development of
cybersecurity and Zero Trust technologies, and the ability of our
technologies to support integrated surveillance and reconnaissance
operations and AF and joint targeting processes, to allow the
security and obfuscation of AF targeting, processing,
dissemination, and intelligence technology, and to enable AF to
incorporate cybersecurity technology and reduce its IT attack
surface. Any statement that is not historical in nature is a
forward-looking statement and may be identified by the use of words
and phrases such as "anticipates," "believes," "estimates,"
"expects," "intends," "plans," "predicts," "projects," "will be,"
"will continue," "will likely result in," and similar expressions.
Readers are cautioned not to place undue reliance on
forward-looking statements. Forward-looking statements are
necessarily subject to risks, uncertainties, and other factors,
many of which are outside our control, and could cause actual
results to differ materially from such statements and from our
historical results and experience. These risks, uncertainties and
other factors include, but are not limited to risks detailed in our
filings with the Securities and Exchange Commission (the "SEC"),
including our Annual Report on Form 10-K, filed on March 15, 2024. Readers are cautioned that it is
not possible to predict or identify all the risks, uncertainties
and other factors that may affect future results and that the risks
described herein should not be considered a complete list. Any
forward-looking statement speaks only as of the date on which such
statement is made.
EXCEPT AS REQUIRED BY LAW, WE UNDERTAKE NO
OBLIGATION TO UPDATE OR REVISE ANY FORWARD-LOOKING STATEMENT AS A
RESULT OF NEW INFORMATION, FUTURE EVENTS OR OTHERWISE.
Contact:
Investor Relations
VirnetX Holding Corporation
415.505.0456
ir@virnetx.com
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