TORONTO, July 10 /CNW/ - Spectral Diagnostics Inc. (TSX: SDI) today
announced that it has entered into a exclusive distribution agreement in
Russia with BB Medical for Spectral's Endotoxin Activity Assay (EAA(TM)), the
only FDA cleared assay for the measurement of endotoxin. Under the terms of
the agreement, BB Medical will market and sell EAA(TM) throughout the Russian
"BB Medical is a leading distributor of medical technologies in Russia.
Their significant market reach in this region will help to strengthen our
presence in yet another geographic territory - a key component in the global
commercialization strategy for our EAA(TM) product," said Dr. Paul Walker,
President and CEO of Spectral Diagnostics. "Our distribution agreement with BB
Medical in Russia is expected to be the first of several distribution
agreements in new geographic territories. Ultimately, these alliances will
drive the adoption of our unique product globally, both as a stand-alone
product, and also in combination with therapeutics for the diagnosis,
treatment and monitoring of patients with endotoxemia."
Spectral's distribution agreement with BB Medical is a result of the
Company's expanded collaboration agreement with Toray Medical that was
announced in May. Through this expanded agreement with Toray, Spectral may now
access Toray's distributors in other geographic territories including China,
India and Canada for the sales and promotion of EAA(TM).
About Spectral Diagnostics
Spectral is a leader in the battle against sepsis. Spectral's lead
product is its Endotoxin Activity Assay (EAA(TM)), the only FDA cleared assay
for the measurement of endotoxin. With the growing awareness for the role of
endotoxemia in sepsis and the increasing number of therapies being developed
for this indication, Spectral is well-positioned to drive the adoption of the
EAA(TM), which can be used to identify patients, enable therapeutics and
monitor treatment. Spectral is listed on TSX under the symbol SDI.
Information in this news release that is not current or historical
factual information may constitute forward-looking information within the
meaning of securities laws. Implicit in this information, particularly in
respect of the future outlook of Spectral and anticipated events or results,
are assumptions based on beliefs of Spectral's senior management as well as
information currently available to it. While these assumptions were considered
reasonable by Spectral at the time of preparation, they may prove to be
incorrect. Readers are cautioned that actual results are subject to a number
of risks and uncertainties, including the availability of funds and resources
to pursue R&D projects, the successful and timely completion of clinical
studies, the ability of Spectral to take advantage of business opportunities
in the biomedical industry, the granting of necessary approvals by regulatory
authorities as well as general economic, market and business conditions, and
could differ materially from what is currently expected.
The TSX has not reviewed and does not accept responsibility for the
adequacy or accuracy of this statement.
For further information:
For further information: Dr. Paul Walker, President & CEO, (416)
626-3233 ex. 2100; James Smith, Investor Relations, (416) 815-0700 ext. 229,