SOURCE: SpectraScience, Inc.

December 02, 2014 09:15 ET

SpectraScience Appoints Rand Mulford to the Board of Directors

SAN DIEGO, CA--(Marketwired - Dec 2, 2014) - SpectraScience, Inc. (OTCQB: SCIE), a San Diego-based medical device company, today announced that its Board of Directors has appointed Rand Mulford to its Board.

Michael Oliver, President and Chief Executive Officer, said, "We are fortunate that Rand has accepted our offer to rejoin our board. His past experiences with Spectra as a director coupled with his broad background will be a welcome voice on the board. We look forward to working with Rand in growing our company and successfully commercializing our WavSTAT4 product."

"It is an honor to rejoin the SpectraScience board of directors and work with management and other board members to positively impact the cancer screening and diagnostics industry," said Mr. Mulford.

About Rand Mulford

Rand is an independent consultant with a depth of experience in assisting organizations in developing overall strategy and conducting corporate financing and development programs. For the past five years, Mr. Mulford has successfully completed a variety of projects including managing M&A transactions, developing strategy for companies in therapeutic antibodies, cell-based therapy for eye diseases, prescription drug distribution, and developing a potential cure for AIDS.

Previously, Mr. Mulford had joined with two other partners to found a specialty pharmaceutical company. Before that, Rand was E.V.P. for Strategy with Chatham Capital and Forest Health Services, a for-profit chain of hospitals. For two years, Rand worked with a venture capital firm working directly with four portfolio companies. His corporate experience includes: Group V.P. of planning and control for a petrochemical company; head of corporate planning at Merck; C.F.O. of a human tissue company; C.O.O. of a drug discovery company and president of its subsidiary, a research chemical company; C.O.O. of a diagnostics company; Chairman of the Board of a medical device company; and head of the corporate development at a bio-pharmaceutical company.

Rand started his business career with the consulting firm of McKinsey & Co. in the Chicago office. During an eight-year period, he served about twenty clients working on a variety of issues primarily related to strategy and organization. Rand obtained a bachelor's degree in engineering with honors from Princeton University in 1965. For the next five years he served as a naval officer in the nuclear submarine program. Subsequently, he earned an M.B.A. with high distinction at Harvard Business School. 

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. The Company's LUMA imaging technology has received FDA approval for an optical non-invasive system that is proven to more effectively detect cervical cancer precursors than conventional methods available in the market today.

Forward Looking Statements

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

  • Contact:

    Lowell W. Giffhorn
    Chief Financial Officer
    (858) 847-0200