TORONTO, ONTARIO--(Marketwired - Dec. 5, 2016) - Spectral Medical Inc. ("Spectral" or the "Company") (TSX:EDT) (OTCQX:EDTXF) a Phase III company developing the first treatment for patients with endotoxemic septic shock using a medical device, today announced the appointment of Dr. Masayuki Kaneko as the Toray Industries, Inc. ("Toray") representative on its Board of Directors.
Dr. Kaneko is currently acting General Manager of Toray's pharmaceutical and medical products division and has over twenty years of experience in pharmaceutical research and business development. Dr. Kaneko has managed a number of international joint ventures and co-development initiatives for Toray's pharmaceutical business. He replaces Mr. Koichiro Takeshita, who served on the Spectral Board since 2013.
"We welcome Dr. Kaneko to our Board of Directors and look forward to working with him as we continue on our regulatory pathway for the Toraymyxin™ medical device in the United States," said Dr. Paul Walker, President and CEO of Spectral. "We also thank Mr. Koichiro Takeshita for his guidance and significant contributions over the last three years," added Dr. Walker.
About Spectral Medical Inc.
Spectral is a Phase III company seeking U.S. FDA approval for its unique product Toraymyxin™ ("PMX") for the treatment of patients with septic shock. PMX is a therapeutic hemoperfusion device that removes endotoxin, which can cause sepsis, from the bloodstream and is directed by the Company's Endotoxin Activity Assay (EAA™), the only FDA cleared diagnostic for the risk of developing sepsis.
PMX has been approved for therapeutic use in Japan and Europe, and has been used safely and effectively on more than 150,000 patients to date. Approximately 350,000 patients are diagnosed with severe sepsis and septic shock in North America each year. Currently there is no specific treatment available for this condition.
Spectral is listed on the Toronto Stock Exchange under the symbol EDT, and on the OTCQX under the symbol EDTXF. For more information please visit www.spectraldx.com.
Information in this news release that is not current or historical factual information may constitute forward-looking information within the meaning of securities laws. Implicit in this information, particularly in respect of the future outlook of Spectral and anticipated events or results, are assumptions based on beliefs of Spectral's senior management as well as information currently available to it. While these assumptions were considered reasonable by Spectral at the time of preparation, they may prove to be incorrect. Readers are cautioned that actual results are subject to a number of risks and uncertainties, including the availability of funds and resources to pursue R&D projects, the successful and timely completion of clinical studies, the ability of Spectral to commercialize its products, the ability of Spectral to take advantage of business opportunities in the biomedical industry, the granting of necessary approvals by regulatory authorities as well as general economic, market and business conditions, and could differ materially from what is currently expected.
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