Navigation Links
SpectraScience Acquires Luma Imaging Corporation

SAN DIEGO, Nov. 8 /PRNewswire-FirstCall/ -- SpectraScience, Inc. (OTC Bulletin Board: SCIE.OB) announced today that it has acquired all of the shares of Luma Imaging Corporation.

Luma(TM) has developed and received FDA approval for an optical non-invasive diagnostic imaging system that is proven to more effectively detect cervical cancer precursors than using conventional means alone (i.e., colposcopy). The Company's LUMA(TM) Cervical Imaging System utilizes a single-use disposable probe and requires little additional training as it leverages clinicians' existing skill sets. When used as an adjunct to colposcopy, LUMA(TM) detects significantly more high-grade cervical cancer precursors than colposcopy alone. Clinical trials comprised of over 3,000 women have demonstrated LUMA(TM)'s ability to detect over 25% more atypical squamous cells of undetermined significance and low-grade squamous intraepithelial lesion (ASCUS/LSIL) cancer cell precursors than colposcopy alone. These findings often show up as mild abnormalities on Pap tests. LUMA(TM) received FDA approval as an adjunct to colposcopy in March 2006.

The acquisition was accounted for as an exchange of the shares of both companies and includes substantial inventory and the worldwide application for 51 patents, 28 of which have issued, with a Notice of Allowance from the U.S. Patent and Trademark Office on two additional applications and 21 patents that are pending.

SpectraScience has developed a multi-patented and proprietary WavSTAT(TM) Optical Biopsy System that is used by physicians to diagnose tissue to determine if it is normal, pre-cancerous, or cancerous within seconds. The WavSTAT(TM) System is currently approved by the FDA for use in detecting pre-cancer and cancer in the colon. A new application for detecting pre- cancers in the throat, sometimes called Barrett's esophagus, is being tested in a clinical trial. Cancer of the esophagus is more than 90% fatal and may develop as a result of chronic heartburn or GERD. Esophageal cancer is growing five times faster than all other cancers.

Jim Hitchin SpectraScience's CEO said, "This acquisition gives us two FDA approved devices for the early detection of colon and cervical cancers. Completion of our Barrett's esophagus trial and FDA approval will give us yet another early cancer detection application. We hope to launch other applications, such as early detection of lung cancer, using our optical technology in the near future."

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 the results discussed in the forward- looking statements. Readers are urged to carefully review and consider the various disclosures made by SpectraScience in this news release, the 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.

For further information contact Jim Hitchin at (858) 847-0200.

SOURCE SpectraScience, Inc.
Copyright©2007 PR Newswire.
All rights reserved

Related medicine news :

1. SpectraScience Receives Final European Certification
2. Cogdell Spencer Inc. Acquires Summit Professional Plaza I and II in Brunswick, Georgia
3. Omnicom Acquires Leading Healthcare Marketing Communications Firm in China
4. Food Bank For New York City Acquires FoodChange
5. Concentra Acquires Assets of Renew Health & Wellness
6. DaVita Acquires Majority Stake in HomeChoice Partners, Inc.
7. NNN Healthcare/Office REIT Acquires St. Mary Physicians Center in Long Beach, California
8. NNN Healthcare/Office REIT Acquires 2750 Monroe Boulevard in Valley Forge, Pennsylvania
9. Hologic Acquires Biolucent, Inc.
10. Radiation Therapy Services Acquires North Carolina Facility
11. Thomson Acquires Prous Science
Post Your Comments:
(Date:6/24/2016)... ... June 24, 2016 , ... Those who have experienced traumatic events may suffer ... unhealthy avenues, such as drug or alcohol abuse, as a coping mechanism. To avoid ... healthy coping following a traumatic event. , Trauma sufferers tend to feel a range ...
(Date:6/24/2016)... (PRWEB) , ... June 24, 2016 , ... ... Conference and Scientific Sessions in Dallas that it will receive two significant new ... the grants came as PHA marked its 25th anniversary by recognizing patients, medical ...
(Date:6/24/2016)... ... ... Comfort Keepers® of San Diego, CA is excited to announce they are ... drive cancer patients to and from their cancer treatments. Comfort Keepers provides quality ... and ongoing independence. Getting to and from medical treatments is one of the ...
(Date:6/24/2016)... ... 2016 , ... EB Medicine presented its first-ever “Issue of ... in Ponte Vedra Beach, FL. The awards honor the outstanding work of leading ... and Pediatric Emergency Medicine Practice. , “With this award, we recognize the efforts ...
(Date:6/24/2016)... Maryland (PRWEB) , ... June 24, 2016 , ... ... Angels is actively feeding the Frederick area economy by obtaining investment capital for ... over the past 2½ years that have already resulted in more than a ...
Breaking Medicine News(10 mins):
(Date:6/23/2016)... Research and Markets has announced the addition of ... their offering. The current ... environment for MedImmune to enter. The US ageing population creates ... drive considerable growth for effective anti-influenza medications. The introduction of ... but development is still in its infancy. ...
(Date:6/23/2016)... PARK RIDGE, Ill. and INDIANAPOLIS ... caliber of students receiving a Lilly Diabetes Tomorrow,s Leaders ... hands. The 2016 scholarship winners, announced today online at ... refused to let type 1 diabetes stand in the ... Lilly Diabetes has supported the Foundation,s scholarship program since ...
(Date:6/23/2016)... N.J. , June 23, 2016  Guerbet announced ... Premier Inc.,s Supplier Horizon Award . ... year, Guerbet was recognized for its support of Premier ... creation through clinical excellence, and commitment to lower costs. ... to receive this recognition of our outstanding customer service ...
Breaking Medicine Technology: