SOURCE: SpectraScience, Inc.

February 23, 2016 09:15 ET

SpectraScience Acquires Assets of Oncoscope

SAN DIEGO, CA--(Marketwired - February 23, 2016) - SpectraScience, Inc. (OTCQB: SCIE), a medical device company utilizing light technologies to detect and diagnose cancers, announced today that it has acquired the assets of Oncoscope, Inc. of Durham, North Carolina. Oncoscope developed a proprietary optical imaging system to provide immediate, minimally-invasive detection of pre-cancerous epithelial tissues using scattered white light. Their first target indication was for Barrett's Esophagus, a precursor for cancer of the esophagus.

"The Oncoscope technology is the perfect complement to ours. SpectraScience's Laser Induced Fluorescence Spectroscopy (LIFS) measures concentration of specific biomarkers in epithelial tissues. The strength of Oncoscope's technology is its focus on enlarged cell nuclei, an early marker of pre-cancers and cancers. Both technologies arrive at the same conclusion by measuring different indicators. Having two complementary technologies allows us to address multiple types of cancers including both esophageal and colon cancers," said Michael Oliver, President and Chief Executive Officer of SpectraScience. He went on to say, "Oncoscope's focus on a diagnostic for Barrett's Esophagus will shorten the development time for a commercial product to address this indication. With a solution for diagnosis of cancer in the upper GI as well as the lower GI, we will be able to more efficiently utilize our manufacturing capabilities and leverage the sales channel to Gastroenterologists."

About SpectraScience, Inc.:

SpectraScience is a San Diego based medical device company that designs, develops, manufactures and markets spectrophotometry systems capable of determining whether tissue is normal, pre-cancerous or cancerous without physically removing tissue from the body. Protected by more than 30 patents in 28 countries, covering fundamental elements of the technology, the WavSTAT Optical Biopsy System uses light to optically scan tissue and provide the physician with an immediate analysis. With FDA approval for sale in the U.S. and the CE Mark for the European Union, the WavSTAT System is the first commercially available product that incorporates this innovative patent protected technology for clinical use.

For more information:

Visit our web site www.spectrascience.com

Forward-Looking Statement for SpectraScience, Inc.

This news release contains forward-looking statements that involve risks and uncertainties that may cause SpectraScience's actual results to differ materially from results discussed in forward-looking statements. Readers are urged to carefully review and consider the various disclosures made by SpectraScience in this news release, its most recent Form 10-K and in SpectraScience's other reports filed with the Securities and Exchange Commission ("SEC") that attempt to advise interested parties of the risks and factors that may affect SpectraScience's business. These forward-looking statements are qualified in their entirety by the cautions and risk factors filed by SpectraScience in its annual report on Form 10-K and other documents.

Contact Information