Spectral announces 2007 financi... ( TORONTO March 7 / Spectral Diagno...)

Spectral announces 2007 financial results

Date:3/7/2008

TORONTO, March 7 /PRNewswire-FirstCall/ - Spectral Diagnostics Inc. (TSX:SDI) today announced its operational highlights and financial results for the fiscal year ended December 31, 2007.

"Spectral's priority is the commercialization of its EAA(TM) Endotoxin Activity Assay, the only FDA cleared assay for the measurement of endotoxin. Endotoxemia is a systemic response to bacterial toxins that can rapidly lead to organ dysfunction, septic shock and ultimately death. Healthcare professionals have become much more aware of endotoxemia over the last several years, and many of the emerging therapies for sepsis now advancing though clinical trials target endotoxin," said Dr. Paul Walker, President and CEO of Spectral Diagnostics. "The growing awareness of endotoxemia, and the increasing number of therapies being developed for this indication, position us well to drive adoption of the EAA(TM), which can be used to identify patients, enable therapeutics and monitor treatment."

Highlights from 2007:

- Entered into an exclusive agreement in November 2007 with Toray

Medical Co. Ltd. to distribute Spectral's EAA(TM) Endotoxin Activity

Assay in Japan. Toray Medical will market and sell the EAA(TM) 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.

- Launched the EAA(TM) in Germany in September 2007 through A. Menarini

Diagnostics Deutschland, building on a distribution agreement signed

in May 2007 which covers Germany and includes an option to extend the

arrangement to the rest of Europe.

- Expanded its EAA(TM) product distribution agreement in Italy with its

partner Estor, SpA in May 2007. The expanded agreement is aimed at

increasing the number of hospitals in Italy utilizing the EAA(TM)

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Spectral announces 2007 financi...( TORONTO March 7 / Spectral Diagno...)