TORONTO, July 10 /PRNewswire-FirstCall/ - 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 Federation.
"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.
|SOURCE Spectral Diagnostics Inc.|
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