SAN DIEGO, Aug. 5, 2013 (GLOBE NEWSWIRE) -- SpectraScience, Inc. (OTCQB:SCIE), a San Diego-based medical device company, announced today that it has begun submission of its protocol to participating institutions for the MORDIS (MOdified Resect and DIScard) evaluation. The evaluation, which will be conducted at eight sites across Europe, brings together the foremost gastroenterologists in each of the respective nations to once again validate the clinical efficacy of the WavSTAT4 Optical Biopsy System.
In addition to replicating the clinical efficacy of the WavSTAT4, shown in earlier European studies to have a negative predictive value (NPV) of 96%, the study will generate economic data at each clinical site, which will be used to demonstrate the real cost-savings generated by use of the system. The economic data in combination with the clinical data will then be presented by the investigators to each nation's appropriate approval agency for inclusion into that nation's standard of care. The resulting approvals will reimburse hospitals and doctors in each of the affected countries for use of the WavSTAT4 in every colorectal cancer screening procedure where small or diminutive polyps or lesions may be present.
"Commencement of the MORDIS evaluation is the first step in making WavSTAT4 the standard of care throughout Europe," said Michael Oliver, Chief Executive Officer of SpectraScience. He went on to say, "Successful completion of the evaluation will result in removing the last barrier to widespread adoption. This will provide a clear path to achievement of our financial goals."
About SpectraScience, Inc.
SpectraScience is a San Diego-based medical device company that designs, develops, manufactures and markets light-based analysis 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 diagnose tissue and provide the physician with an immediate analysis. With approval for sale under the CE Mark for the European Union, the WavSTAT System is the first commercially available product that incorporates this innovative technology for clinical use.
Forward-Looking Statements
This press release includes statements that may constitute "forward-looking" statements, usually containing the words "believe," "estimate," "project," "expect" or similar expressions. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, acceptance of the Company's products and services in the marketplace, competitive factors, dependence upon third-party vendors, and other risks detailed in the Company's periodic report filings with the Securities and Exchange Commission. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release.
SpectraScience, Inc. Michael Oliver (858) 847-0200 x2001 Investor Relations Stonegate Casey Stegman (214) 893-0943
