SDI.TO...been moving up a bit of late..around $1.60 US:
Spectral Diagnostics licensed by CDC to develop rapid point-of-care test for West Nile Virus
Thursday May 8, 1:41 pm ET
TORONTO, May 8 /CNW/ - Spectral Diagnostics Inc. (TSX: SDI - News) today, announced the signing of a licensing agreement with the U.S. Centers for Disease Control (CDC) in Atlanta to develop a rapid point-of-care test for West Nile Virus (WNV) infection.
West Nile Virus is spread to humans via mosquitoes and blood transfusion. There have been over 300 confirmed deaths in North America in the last year alone from WNV, and an estimated 500,000 suspected cases. Current testing takes an average of 4 to 6 weeks to confirm that a patient has West Nile Virus infection. Spectral intends to produce a diagnostic test that will produce results in minutes, enabling the identification of local outbreaks, ruling out exposure to the infection, and the initiation of treatment.
Under the licensing agreement, CDC will provide Spectral with reagents, consisting of antibodies, antigens, and scientific support in exchange for future royalties on in-market sales. Spectral plans to utilize its expertise in point-of-care diagnostics to develop a WNV test on its existing STATus(TM) platform, as well as its novel finger-prick based microfluidic platforms.
"This represents a significant achievement for our Company," stated Spectral's President and CEO, Dr. Paul Walker. "Spectral's leadership in the accelerated development of simple, accurate point-of-care tests, as well as our growing expertise in infection diagnostics, positions the Company well to have a large impact on major public health concerns," added Dr. Walker.
"Partnership with leading global research institutions such as CDC, illustrates Spectral's focus on enhanced commercialization capabilities in bringing forward new assays quickly and cost effectively," said Dr. Walker. "West Nile Virus testing represents the first in a family of point-of-care infection diagnostics that we plan to bring to market."
Spectral is a developer of innovative technologies for comprehensive disease management. Spectral provides accurate and timely information to clinicians enabling the early initiation of appropriate and targeted therapy. Current products are rapid format tests measuring markers of myocardial infarction (Cardiac STATus(TM) test). New products include rapid diagnostics for sepsis (the Endotoxin Activity Assay). The EAA and Cardiac STATus(TM) products are manufactured by Spectral Diagnostics Inc. Spectral's common shares are listed on the Toronto Stock Exchange: SDI.
This press release contains certain forward-looking statements and
information based on beliefs of the Company's senior management as well as
assumptions made by, and information currently available to it. Such
statements reflect the current views of the Company with respect to future
events and are subject to certain risks and uncertainties. Actual results,
events, and performance may differ materially. Readers are cautioned not to
place undue reliance on these forward-looking statements, which speak only as
of the date hereof.
For further information
At: Spectral Diagnostics Inc. - Dr. Paul M. Walker, Chief Executive Officer, (416) 626-3233
Spectral Diagnostics announces presentation at BioFinance 2003 forum
Monday May 12, 3:53 pm ET
TORONTO, May 12 /CNW/ - Spectral Diagnostics Inc. (TSX: SDI - News) today announces, Dr. Paul Walker, President and Chief Executive Officer, will present at the BioFinance 2003 forum on Thursday, May 15, 2003, at 2:30 P.M. EST. The conference is being held at the Marriott Eaton Centre Hotel in Toronto, Ontario, Canada. To receive a copy of Dr. Walker's presentation please contact investor relations at Spectral following the conference.
BioFinance 2003 is the Canadian forum for some of the most innovative minds in the life sciences industry today. The BioFinance 2003 forum will include senior management presentations from more than 100 Canadian, U.S. and European life science companies.
Spectral is a developer of innovative technologies for comprehensive disease management. Spectral provides accurate and timely information to clinicians enabling the early initiation of appropriate and targeted therapy. Current products are rapid format tests measuring markers of myocardial infarction (Cardiac STATus(TM) test). New products include rapid diagnostics for sepsis (the Endotoxin Activity Assay). The EAA and Cardiac STATus(TM) products are manufactured by Spectral Diagnostics Inc. Spectral's common shares are listed on the Toronto Stock Exchange: SDI.
This press release contains certain forward-looking statements and information based on beliefs of the Company's senior management as well as assumptions made by, and information currently available to it. Such statements reflect the current views of the Company with respect to future events and are subject to certain risks and uncertainties. Actual results, events, and performance may differ materially. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. |
