SpectraScience and PENTAX Medical Announce Expanded Distribution of WavSTAT4 Optical Biopsy System in Europe
SpectraScience, Inc. ( OTCQB : SCIE ), a San Diego-based medical device company and PENTAX Europe GmbH (PENTAX Medical herein after) jointly announce that they have agreed on expanded distribution of the WavSTAT4 Optical Biopsy System in Europe. Increased deployment of the WavSTAT4 system is expected in the PENTAX Medical fiscal year (April 2013 – March 2014).
As previously announced in June 2012, SpectraScience entered into an exclusive five-year agreement with PENTAX Medical to distribute its WavSTAT Optical Biopsy System for the support of colorectal cancer screening and diagnosis. The agreement, which includes the company's new WavSTAT4 console and the disposable optical biopsy forceps, covers Europe as well as Turkey, Saudi Arabia and South Africa. PENTAX Medical is a leading provider of flexible endoscopes, which are used with the WavSTAT System during screening for colorectal cancer.
“We are looking forward to working with PENTAX Medical to bring this new technology to hospitals across Europe” said Michael Oliver, SpectraScience's Chief Executive Officer. “PENTAX Medical is the ideal partner for our sales and marketing efforts in Europe. Their highly-regarded sales organisation has the expertise to ensure we get the maximum possible exposure in the gastroenterology community. With expanded distribution with PENTAX Medical, we create a situation where both companies have a vested interest in speeding the adoption of this unique technology across Europe.” Girts Cimermans, President Europe, Middle East and Africa, PENTAX Medical said: “We believe in an opportunity for this product and want to have a role in building its future. We are making efforts to pave the way for WavSTAT into clinical routine.”