SAN DIEGO, Oct. 28 /PRNewswire-FirstCall/ -- SpectraScience, Inc. (OTC Bulletin Board: SCIE), a San Diego-based medical device company, today provided an update on the status of its business.
Jim Hitchin, SpectraScience's CEO, commented, "We have begun shipping our cancer detection devices to customers in both the United States and Europe. In addition, machines are now in place in leading research facilities throughout the country including the Mayo Clinic, San Diego VA Hospital, Minnesota Gastroenterology, P.A., the University of Southern California and the Boston University VA Hospital to gather the final data necessary to complete a study on the use of our WavSTAT(R) to detect cancer and pre-cancers of the esophagus. Esophageal cancer is deadly and its incidence is growing at a rate six times faster than that of all other solid tumor types. In the beginning phase of this trial there was greater than 90% sensitivity to detection of cancerous and pre-cancerous tissues and, therefore, we expect the follow-up final trial to be successful. The purpose of the final trial is to obtain a statistically significant sample size that will satisfy the FDA in a planned filing. We anticipate making this filing next year and, subject to approval, begin selling product in the United States immediately thereafter.
We now have the CE mark approval for our cancer and pre-cancer detection in the esophagus ahead of schedule in Europe. This means we will be able to start selling this product much earlier than anticipated, accelerating our revenue and cash flow. We have invested considerable effort internationally and receiving the CE mark is an important step in our progress.
A cornerstone of our business model is our focus on leveraging our
existing technology to provide higher sensitivity for the screening of
several deadly cancers. During 2009, we plan to begin preparing to submit
an application for the use of our non-invasive technology to detect lung
|SOURCE SpectraScience, Inc.|
Copyright©2008 PR Newswire.
All rights reserved