TORONTO, Nov. 6 /CNW/ - Spectral Diagnostics Inc. (TSX:SDI) today
announced that it has entered into an exclusive distribution agreement in
Japan with Toray Medical Co. Ltd. for Spectral's EAA(TM) diagnostic system.
Under the terms of the agreement, Toray Medical will market and sell the
EAA(TM) Endotoxin Activity Assay for the detection of endotoxemia and the
subsequent risk for sepsis in conjunction with its Toraymyxin blood
purification device, which removes endotoxin from the bloodstream. Toray
Medical will also distribute the EAA(TM) diagnostic as a stand-alone product.
"This new arrangement is a significant expansion of our existing alliance
with Toray Medical, which over the past three years has focused on
establishing the value of our EAA(TM) diagnostic in combination with Toray's
blood purification device," said Dr. Paul Walker, President and CEO of
Spectral Diagnostics. "This alliance will strengthen our presence in Japan and
provide us with access to other Asian countries - a key component in the
global commercialization strategy for our rapid EAA(TM) diagnostic test."
"Toraymyxin is designed to selectively absorb and remove endotoxin from
the bloodstream," said Mr. Motonaga Tanaka, President of Toray Medical Co.
Ltd. "By using Spectral's EAA(TM) diagnostic to measure endotoxin levels in
combination with the utilization of our blood purification system, we rapidly
identify patients in need of treatment and track their progress on a timely
basis leading to better patient care."
This is the third major distribution agreement for EAA(TM) that Spectral
has signed in 2007, establishing a solid foundation for commercialization over
the next three years.
Toraymyxin, a blood purification device, absorbs the bacterial toxin
(endotoxin) that causes sepsis and septic shock using a special fiber. It
consists of a plastic cylindrical container filled with a special fiber
composite immobilized with the antibiotic polymyxin B, which has high affinity
for endotoxin. In 1993, Toray received approval for manufacturing and
marketing of the product from the "Health and Welfare Ministry of Japan," and
Toray Medical has been marketing it since 1994.
Toray Medical Co., Ltd. is a subsidiary company of Toray Industries,
Inc., a leading diversified chemicals corporate group that has been
technology-focused since its foundation in 1926. The company's operations are
underpinned by technological expertise in organic synthetic chemistry, polymer
chemistry, and biochemistry. These innovative technologies have yielded
"advanced materials" that Toray is now exploiting to provide customers with
comprehensive solutions through Fibers and Textiles, Plastics and Chemicals,
IT-related Products, Carbon Fiber Composite Materials, Environment and
Engineering, Life Science and Other Business divisions. In FY2006, Toray had
consolidated sales of 1,546 billion yen (approx $13 billion US), and over
33,000 employees worldwide. For further information, please check
About Spectral Diagnostics
Spectral is a developer of innovative technologies for comprehensive
disease management. Spectral's technologies provide accurate and timely
information to clinicians enabling the early initiation of appropriate and
targeted therapy. Spectral's current products include its 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 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,