TORONTO, Nov. 19 /CNW/ - Spectral Diagnostics Inc. (TSX:SDI) today
announced that it has entered into a non-exclusive license and material supply
agreement with Bio-Rad Pasteur S.A., a leader in the manufacturing and
distribution of a broad range of products for the life science research and
clinical diagnostics markets. Under the terms of the agreement, Spectral will
provide Bio-Rad with its leading single chain Troponin I reagents.
"We are very pleased to partner with a company of Bio-Rad's stature and
market reach. Bio-Rad's readiness to partner with us is a testament to our
ability to generate and commercialize products of high quality, value and
utility," said Dr. Paul Walker, President and CEO of Spectral Diagnostics.
"Most significantly, the consistent revenue stream over the term of the
agreement will continue to provide our company with the non-dilutive capital
necessary to focus on Spectral's core business, the commercialization of our
FDA cleared EAA(TM) Endotoxin Activity Assay for the detection of endotoxemia
and the subsequent risk for Sepsis."
Spectral's proprietary single chain Troponin I reagents are now in use by
five major international reagent supply and instrumentation companies.
About Bio-Rad Pasteur S.A.
Bio-Rad Pasteur S.A. is a subsidiary of Bio-Rad Laboratories Inc (AMEX:
BIO and BIOb), a company that has remained at the center of scientific
discovery for more than 50 years manufacturing and distributing a broad range
of products for the life science research and clinical diagnostics markets.
The company is renowned worldwide among hospitals, universities, major
research institutions, as well as biotechnology and pharmaceutical companies
for its commitment to quality and customer service. Founded in 1952, Bio-Rad
is headquartered in Hercules, California, and serves more than 85,000 research
and industry customers worldwide through its global network of operations. The
company employs over 6,300 people globally and had revenues of nearly
$1.3 billion in 2006. For more information, visit www.bio-rad.com.
About Spectral Diagnostics
Spectral is a developer of innovative technologies for comprehensive
disease management. Spectral technologies provide accurate and timely
information to clinicians enabling the early initiation of appropriate and
targeted therapy. Current products include Spectral's FDA approved rapid
diagnostic for sepsis (EAA(TM)) and its FDA approved rapid diagnostic for West
Nile Virus (RapidWN(TM)), as well as a range of other biological reagents.
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,