Business
Spectral announces board changes
TORONTO , Sept. 24, 2014 /CNW/ - Spectral Diagnostics Inc., (TSX:SDI) (OTCQX: DIAGF) , a...
About this update from Spectral Medical Inc
[{"type":"text","content":"\n\nTORONTO, Sept. 24, 2014 /CNW/ - Spectral Diagnostics Inc., (TSX:SDI) (OTCQX: DIAGF), a Phase III company developing the first theranostic treatment for patients with severe sepsis and septic shock, today announced that Mr. William Stevens has been appointed to its Board of Directors.\n\nMr. Stevens brings over 20 years of experience in the investment industry to Spectral. He has held senior roles in investment banking and private equity and has a successful track record of value creation for shareholders. Mr. Stevens' educational background includes an MBA from Harvard University Graduate School of Business Administration. \n\nIn addition, Mr. Laine Woollard QC, a director of the Company since 2010, has resigned from the Board.\n\n\"We are very pleased to have added a board member of Mr. Stevens' qualifications during this significant period for the Company, as we complete our clinical program and get ready for the potential commercialization of our unique treatment for septic shock\", stated Dr. Paul Walker, President and CEO of Spectral. \"I also wish to thank Mr. Woollard for his contribution over the years, particularly in the area of enhancing our board governance practices\", added Dr. Walker. \n\nAbout Spectral Diagnostics\n\nSpectral is a Phase III company seeking U.S. FDA approval for its lead theranostics product for the treatment of severe sepsis with septic shock. PMX is a therapeutic hemoperfusion device that removes endotoxin, which can cause sepsis, from the bloodstream. Directed by the Company's Endotoxin Activity Assay (EAA™), the only FDA cleared diagnostic for the risk of developing sepsis, Spectral's EUPHRATES trial is the world's only active and most innovative Phase III study in the area of septic shock. \n\nPMX has been approved for therapeutic use in Japan and Europe, and has been used safely and effectively on more than 100,000 patients to date. In March 2009, Spectral obtained the exclusive development and commercial rights in the U.S. for PMX, and in November 2010, signed an exclusive distribution agreement for this product in Canada. Approximately 350,000 patients are diagnosed with severe sepsis and septic shock in North America each year, representing a greater than $2 billion market opportunity for Spectral. Spectral is listed on the Toronto Stock Exchange under the symbol SDI, and on th...