SpectraScience and PENTAX Medical Announce Expanded Distribution of WavSTAT4 Optical Biopsy System in Europe
SAN DIEGO, CA--(Marketwire – 10th of April 2013) - 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 deployments 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 organization has the expertise to insure 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 states: “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.”
About SpectraScience, Inc.
SpectraScience is a San Diego based medical device company that designs, develops, manufactures and markets light-based analysis systems capable of determining whether tissue is normal, pre-cancerous or cancerous without physically removing tissue from the body. The WavSTAT Optical Biopsy System uses light to optically diagnose tissue and provide the physician with an immediate result. With the CE certification obtained, allowing the sales and shipments in the European Union, the WavSTAT System is the first commercially available product that incorporates this innovative technology for clinical use.
About PENTAX Medical
PENTAX Medical is a division of Hoya Group. Its mission is to improve the standard of patient care and quality of healthcare delivery by providing the best endoscopic products and services with a focus on QUALITY, CLINICALLY RELEVANT INNOVATION, and SIMPLICITY. Through leading edge R&D and manufacturing, PENTAX Medical provides endoscopic imaging devices and solutions to the global medical community. Headquartered in Japan, PENTAX Medical has a worldwide focus and presence with R&D, regional sales, service, and in-country facilities around the globe. PENTAX Medical employees represent the diverse countries where we do business, allowing us to provide innovative solutions tailored to meet local needs. For more information, please visit: http://www.pentaxmedical.com.
Chief Financial Officer
PENTAX Europe GmbH
Marketing Communications Manager EMEA