SOURCE: SpectraScience, Inc.

August 11, 2011 09:00 ET

SpectraScience Engages Laidlaw & Company for Investment Banking and Strategic Advisory Services

SAN DIEGO, CA--(Marketwire - Aug 11, 2011) - SpectraScience, Inc. (OTCQB: SCIE), a San Diego based medical device company, today announced that it has engaged Laidlaw & Company, LTD to assist in executing its strategic growth plan.

Michael Oliver, SpectraScience CEO, stated that, "We are excited to be working with Laidlaw & Company as our advisor to help assist us in our business development and capital markets initiatives. As we discussed at our recent annual shareholders' meeting, we are committed to exploring ways to unlock and drive shareholder value. We have made recent enhancements to our WavSTAT Platform technology in order to improve its effectiveness and ease-of-use which we believe will improve the physician's ability to diagnose cancerous and pre-cancerous tissue. SpectraScience will be working closely with Laidlaw to best position the Company in the market, to review and analyze potential merger and acquisition opportunities and to identify strategic initiatives designed to meet our goals."

This is planned as our first step in an effort designed to tell the SpectraScience story, widen the pool of potential investors and position the company as a more attractive investment vehicle for a broader cross section of investors. In coming weeks management will be presenting at investor conferences focused on health care and advanced technologies to aid in these efforts.

James P. Ahern, Managing Partner, Head of Capital Markets at Laidlaw, said, "SpectraScience has developed a differentiated, proprietary platform for cancer screening and diagnostics, and we are pleased to be advising and working with them in an advisory capacity relating to strategic development and commercialization initiatives."

About SpectraScience, Inc.

SpectraScience is a San Diego based medical device company that designs, develops, manufactures and markets biophotonic diagnostic 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 evaluate tissue and provide the physician with an immediate diagnosis. 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.

About Laidlaw & Company, LTD.

Laidlaw & Company is a full service investment bank and securities brokerage firm with offices in New York, London, Miami and select additional locations. Its corporate finance efforts are focused on the healthcare, natural resource and social commerce sectors. In addition to capital raising, its investment banking arm provides M&A, restructuring and other financial advisory services for public and private small cap and middle market clients across a broad cross-section of industry sectors. Its brokerage arm provides wealth management services for domestic and international high-net-worth and institutional clients. Laidlaw is authorized by the FSA in the United Kingdom, and is regulated by FINRA in the United States. (Source: www.laidlawltd.com).

Contact Information

  • Contact:

    SpectraScience, Inc.
    Jim Dorst
    Chief Financial Officer
    (858) 847-0200 ext. 2019

    Hayden Communications
    Investor Relations
    Todd Pitcher
    (858)-518-1387