Healthcare Industry News: Baxter International
News Release - February 13, 2009
SpectraScience Secures Distribution for WavSTAT(R) Cancer Diagnosis System in Greece & CyprusSAN DIEGO, Feb. 13 (Healthcare Sales & Marketing Network) -- SpectraScience, Inc. (OTC Bulletin Board: SCIE ), a San Diego based medical device company, today announced that it has established a distribution partnership for the Greek and Cyprus markets through M.S. Jacovides Hellas S.A., an Athens-based firm specializing in the marketing and distribution of innovative medical devices.
Michel Vaudry, SpectraScience's VP Sales and Marketing, commented, "We are pleased to add another distribution partner in Europe. M.S. Jacovides is a respected and well-established medical distribution company and its decision to add the WavSTAT Optical Biopsy System to their portfolio is a strong validation of our technology. M.S. Jacovides was established in 1944 in Greece and currently has approximately euros 220 million in annual sales and over 300 employees."
M.S. Jacovides Hellas' President & Managing Director, Aris Jacovides, stated, "We are pleased to be SpectraScience's distribution partner and believe there is significant market potential for this innovative GI cancer diagnostic system. We see important benefits to our physicians, enabling them to quickly distinguish between normal and precancerous tissue in the GI tract and allowing for physical biopsy at exactly the same site and time that the optical biopsy is performed. More importantly, the WavSTAT objectively identifies the borders of tissue during surgery to determine if all cancerous tissue has been removed. This will prevent a second surgery."
Vaudry added, "Mr. Jacovides is a respected thought leader in the Greek healthcare market and his company's support of the WavSTAT System will be instrumental in our acceptance at the major gastroenterology centers in Greece and Cyprus. In addition, M.S. Jacovides Hellas is well established in their markets distributing for, among others, Baxter International, Pall, Sandhill and Vital Signs, making them the perfect partner for SpectraScience as we move our business forward."
This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements involve risks and uncertainties that may cause SpectraScience's actual results to differ materially from results discussed in forward-looking statements. Readers are urged to carefully review and consider the various disclosures made by SpectraScience in this news release, its most recent Form 10-KSB and in SpectraScience's other reports filed with the Securities and Exchange Commission ("SEC") that attempt to advise interested parties of the risks and factors that may affect SpectraScience's business. These forward-looking statements are qualified in their entirety by the cautions and risk factors filed by SpectraScience in its annual report on Form 10-KSB and other documents.
About SpectraScience, Inc.
SpectraScience is a San Diego based medical device company that designs, develops, manufactures and markets spectrophotometry systems capable of determining whether tissue is normal, pre-cancerous or cancerous without physically removing tissue from the body. The WavSTAT Optical Biopsy System uses light to optically scan tissue and provides the physician with an immediate analysis. With FDA approval for sale in the U.S. and the CE Mark for the European Union, the WavSTAT System is the first commercially available product that incorporates this innovative technology for clinical use. In addition, the Company's LUMAŽ Cervical Imaging technology has received FDA approval as an optical non-invasive system that is proven to more effectively detect cervical cancer precursors than conventional methods available today.
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