F. Duwaine Townsen Joins SpectraScience Board of... ( SAN DIEGO July 28 /- Spec...)

F. Duwaine Townsen Joins SpectraScience Board of Directors

Date:7/28/2009

SAN DIEGO, July 28 /PRNewswire-FirstCall/ -- SpectraScience, Inc. (OTC Bulletin Board: SCIE), a San Diego based medical device company, today announced that F. Duwaine Townsen, Co-Founder/Managing Director of EndPoint Late-Stage Fund has joined its Board of Directors.

He began his career with Arthur Young & Company following graduation from San Diego State University in 1961. He later became a founder and Chief Financial Officer of Oceanographic Engineering Corporation guiding the company to profitability and its sale to Dillingham Corporation. Mr. Townsen was then promoted to President of the newly formed Ocean Operations Division of Dillingham in 1967.

Mr. Townsen left Dillingham Corporation in 1969 to form Kay Laboratories, Inc., a medical device company, as Chief Financial Officer. He was appointed to CEO and Chairman in 1974 and guided the Company through its IPO in 1978 and sale to American Hospital Supply Corporation in 1981.

In 1982, Mr. Townsen co-founded the Ventana Growth Funds, a group of four venture capital funds, one leasing fund and one joint venture strategic fund, and served as the group's Managing Partner. Ventana Growth Fund was the first San Diego-based venture capital fund dedicated to the Southern California market. Ventana Growth Funds invested primarily in early and middle stage life science, high-tech and telecommunications companies.

In 1998 Mr. Townsen co-founded and was the Managing Partner of EndPoint Late-Stage Fund located in San Diego. This fund invested exclusively in late-stage life science companies that have reached a stage where product, sales and liquidity can be forecast within a reasonable period of time.

In a career that spans more that 40 years in San Diego, he has worked with over 100 emerging companies, primarily in the areas of biotechnology, healthcare and high-tech. As a CPA, former CE
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