SAN DIEGO, CA--(Marketwired - Apr 29, 2014) - SpectraScience, Inc. (OTCQB: SCIE), a medical device company utilizing light technologies to detect and diagnose cancers, announced today that it has received regulatory approval for the WavSTAT4 Optical Biopsy System in Saudi Arabia. This approval will result in the delivery of a Marketing Authorization license, which is the first step in selling the technology to hospitals and physicians in the Kingdom of Saudi Arabia.
"This is an important first step which will allow us to accelerate our sales efforts with our distribution partner," said Michael Oliver, SpectraScience's President and CEO. "The Kingdom of Saudi Arabia has one of the most advanced medical delivery systems in the world. They are rapid adopters of technologies that provide improved care, increased patient safety and lower costs."
Mr. Oliver added, "Our WavSTAT4 Optical Biopsy System provides a fast, safe, accurate and cost-effective way to differentiate benign and cancerous lesions in the colon with a 96% negative predictive value. We look forward to making it available to patients across the healthcare system."
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. 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 technology for clinical use.
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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.