Business
Spectral appoints new board member
TORONTO, Aug. 13 /CNW/ - Spectral Diagnostics Inc. (TSX:SDI, a company developing products for th...
About this update from Spectral Medical Inc
[{"type":"text","content":"\n\n\n\nTORONTO, Aug. 13 /CNW/ - Spectral Diagnostics Inc. (TSX:SDI, a company\ndeveloping products for the treatment of sepsis, today announced the\nappointment of Dr. Michael Cross to the Company's Board of Directors. Dr.\nCross is Vice President of Investments at GrowthWorks Capital, one of Canada's\nleading venture capital management companies.\n\n\n"Dr. Cross will be a valuable addition to the Board, bringing experience\nfrom both the life sciences' industry and the investment perspective," said\nDr. Paul Walker, President and CEO of Spectral. "As a significant shareholder\nof Spectral, GrowthWorks' continued support is important as we prepare to\ninitiate our registration trial for Toraymyxin(TM) in the US and evaluate\ndifferent strategic options for this significant commercial opportunity."\n\n\nDr. Cross brings more than 20 years of life sciences, venture capital and\nbiotechnology industry experience to the Spectral Board. At GrowthWorks, he is\nresponsible for identifying private and public equity investment opportunities\nin the life sciences area and he serves on the boards of a number of public\nand private life sciences companies. Prior to joining GrowthWorks, Dr. Cross\nhas held senior management positions at MDS Proteomics, MDS Capital and\nViventia Biotech.\n\n\nAbout Spectral Diagnostics\n\n\nSpectral is a leader in the battle against sepsis. Spectral's lead\nproduct is its Endotoxin Activity Assay (EAA(TM)), the only FDA cleared assay\nfor the measurement of endotoxin. With the growing awareness for the role of\nendotoxemia in sepsis and the increasing number of therapies being developed\nfor this indication, Spectral is well-positioned to drive the adoption of the\nEAA(TM), which can be used to identify patients, enable therapeutics and\nmonitor treatment. In March 2009, Spectral obtained the exclusive development\nand commercial rights in the U.S. for Toraymyxin(TM), a therapeutic for the\ntreatment of sepsis that removes endotoxin from the bloodstream. Spectral will\nseek FDA approval for Toraymyxin(TM) and intends to commercialize the product\ntogether with EAA(TM). Spectral is listed on TSX under the symbol SDI.\n\n\nForward-looking statement\n\n\nInformation in this news release that is not current or historical\nfactual information may constitute forward-looking information within t...