SpectraScience Begins Shipments of WavSTAT4 Optical Biopsy System to European Customers
SAN DIEGO, CA - SpectraScience, Inc.(OTCQB:SCIE.OB), a San Diego based medical device company, today announced that it had begun initial sales and shipments of the new WavSTAT4 Optical Biopsy System® to customers in Europe during December 2011. Shipments included both the System mobile console and disposable optical forceps.
"The sale of WavSTAT4 Systems in Europe in 2011 was one of our primary goals, and represents an important milestone forSpectraScience," said Michael Oliver, SpectraScience's chief executive officer. "I'm very pleased with the efforts of our manufacturing and engineering teams, who worked diligently through the Holidays to ensure we fulfilled this commitment to our customers and shareholders."
Mr. Oliver added, "We plan to build upon this initial success to create additional market opportunities in 2012 and believe the WavSTAT4 will be well received, as it not only improves cancer detection rates, but can also significantly reduce costs by lowering the number of physical biopsies that need to be performed. Importantly, and consistent with another of our stated goals, we continue to have discussions with potential global distribution partners and believe we are on track to cement relationships in the coming months."
The WavSTAT4 Optical Biopsy System is designed as an adjunct to existing endoscopic procedures, and can provide an in vivo diagnosis of possible cancerous tissue immediately during a typical colorectal screening. The results of the WavSTAT4 diagnosis are displayed on the system console -- a red icon denoting cancerous tissue, and a green icon for normal tissue. The updated system includes a new user interface and other features making it easier to use and better suited to a clinical environment, as well as an improved diagnostic algorithm that almost completely eliminates false negatives and improves sensitivity in the diagnosis of abnormal tissue. WavSTAT4 was first showcased in October 2011 at the United European Gastroenterology Week (UEGW) in Stockholm, Sweden.
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 analysis. With CE Mark approval for sale in the European Union for all cancers, the WavSTAT System is the first commercially available product that incorporates this innovative technology for clinical use.