New CEO...
Mark Faupel, Ph.D. Named SpectRx, Inc. CEO
Monday May 14, 11:52 am ET
Company Focusing on Bringing Non-Invasive Cervical Cancer Detection Technology to Market
NORCROSS, Ga.--(BUSINESS WIRE)--SpectRx, Inc. (Pink Sheets:SPRX - News) today announced that Mark L. Faupel, Ph.D. has been named Chief Executive Officer of the company. He has served as President, Chief Operating Officer and Chief Technical Officer of the company. He succeeds Mark A. Samuels as CEO.
"The appointment of Dr. Faupel as CEO is reflective of the new direction of the company and the focus on commercializing our non-invasive cervical cancer detection technology," said Ronald Hart Ph.D., SpectRx board member. "His extensive knowledge of the technology, regulatory requirements and marketplace make him the ideal person to bring this exciting technology to market."
"I am very pleased and excited with the opportunity the board has given me and the prospect of working with our team to bring this potentially life-saving technology to market," said Dr. Faupel. "The company is focused on completing the tasks necessary to deliver the product to market, namely, completing our FDA pivotal clinical trials, obtaining necessary regulatory approvals and international quality marks, completing product design and manufacturing work and market launch.
"I am also committed to increasing shareholder value by leveraging our interstitial fluid sampling technology through out licensing, strengthening the balance sheet and with the additional goal of returning the stock to a national trading market," Dr. Faupel said.
Dr. Faupel has more than 20 years of experience as a senior executive developing non-invasive alternatives to surgical biopsies and blood tests, especially in the area of cancer screening and diagnostics. Prior to coming to SpectRx in 1998 as Vice President of Business Development and then co-founding Guided Therapeutics, Dr. Faupel was a senior executive and co-founder of Biofield Corp.
He is the inventor on 15 U.S. patents and author of numerous scientific publications and presentations, appearing in such peer-reviewed journals as The Lancet, Cancer, The European Journal of Radiology and Diabetes Technology & Therapeutics. He has served as a member of the European School of Oncology Task Force and on National Institutes of Health review panels. Dr. Faupel earned his Ph.D. in neuroanatomy and physiology from the University of Georgia.
About SpectRx
SpectRx, Inc. (Pink Sheets:SPRX - News) is developing a rapid and painless test for the early detection of disease that leads to cervical cancer. The technology is designed to quickly eliminate false positive Pap and HPV results and discover cervical disease missed by existing tests. Unlike Pap and HPV tests, the device does not require a painful tissue sample and results are known immediately.
The SpectRx non-invasive cervical cancer detection test uses light to scan the cervix for disease. The test is designed to be painless and to provide results immediately. It is also designed to be performed by a technician, making more efficient use of the doctor's time. The system consists of a base unit and a single-patient-use disposable calibration and patient interface. The test is currently undergoing the U.S. Food and Drug Administration pivotal clinical trial necessary to apply for regulatory approval. The test could reduce unnecessary cervical biopsies by 55%, while accurately detecting disease, according to results of a study published in the January 2007 edition of the Journal of Lower Genital Tract Disease.
For more information, visit www.spectrx.com and www.guidedtherapeutics.com.
The SpectRx Non-invasive Cervical Cancer Detection Device is an investigational device and is limited by federal law to investigational use. |
