To: TokyoMex who wrote (1998 ) 3/24/1998 10:12:00 PM From: J Kurt Bonk Read Replies (1) | Respond to of 34592
< FYI .CAFE......NEW Medical Technology> jumped 1 today, from 5 approval soon 90 days?, (hardware approved, software next) don't know where it could go.........anyones DD from the medical field would be great Kabonk > MINNEAPOLIS--SpectraSCIENCE, Inc. (NASDAQ:SPSI) announced today that the Company has completed a significant milestone regarding its on-going multi-center clinical study for the early detection of colon cancer utilizing its Optical Biopsy(TM) System. Clinical data on a sufficient number of patients has been obtained to support a pre-market approval (PMA) application to the United States Food and Drug Administration (FDA), which is expected to be filed by the end of the first quarter of 1998. In the past year, the FDA approved 50% of all PMA applications within 180 days of submission filing date. Brian T. McMahon, Chairman, President and Chief Executive Officer of the Company said: "Thanks to the continuing efforts of our preeminent clinical partners and the dedication of our employees, we are extremely pleased with the achievement of another very significant milestone for our Company." The American Cancer Society and the American Society of Gastrointestinal Endoscopy states that clinical studies suggest that the earlier detection of cancer which results in the earlier treatment of cancer may significantly reduce mortality in patients with gastrointestinal cancers. The Health Care Financing Administration's Medicare program would also receive a five-year spending increase of $2 billion under President Clinton's fiscal year 1998 budget proposal for the routine screening and early detection of colorectal cancer. The Company feels the technology utilized in its Optical Biopsy(TM) System may have a significant role in the early detection and facilitation of treatment of cancer. SpectraSCIENCE develops innovative, minimally-invasive medical delivery systems to facilitate the diagnosis and treatment of a broad range of human diseases by utilizing advanced spectroscopy, fiber optics, computer hardware and software. CONTACT: SpectraScience, Inc., Minneapolis Brian T. McMahon, 612/509-9999 ext 203 or Ching-Meng Chew, 612/509-9999 ext 201