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Spectral And Somagen Announce Canadian Distribution Agreement For Rapid West Nile Virus Test



6/1/2006 10:34:24 AM

TORONTO, June 1 /PRNewswire-FirstCall/ - Spectral Diagnostics Inc. , a developer of innovative rapid diagnostic technologies, today announced an agreement with Somagen Diagnostics Inc., a leading supplier of in vitro diagnostic technologies, to distribute Spectral's Rapid West Nile Virus Test in the Canadian Market.

This product represents a major breakthrough in the ability to rapidly assess the many patients suspected of infection by West Nile Virus (WNV). The ability to make the diagnosis for an individual patient with potential WNV infection in less than an hour will allow doctors and public health personnel to intervene faster and more effectively manage the complications of WNV infection, including meningoencephalitis. To date, Spectral's WNV diagnostic is the only rapid test intended for individual patient by patient application at the time of their presentation.

"We are very excited about this new relationship. Somagen's experience and coverage of the Canadian healthcare market is well suited to maximizing sales of the rapid WNV test.", stated Robert Verhagen, Spectral's Vice President of Business Development.

"The addition of the Spectral West Nile Virus test complements our current product offerings and we are looking forward to working with Spectral to offer this timely test to Canadian healthcare facilities.", added Tammie Kovacs, Vice President at Somagen.

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 include Spectral's rapid West Nile Virus (WNV) assay and its FDA approved rapid diagnostic for sepsis (the Endotoxin Activity Assay), as well as a range of other biological reagents. Spectral's common shares are listed on The Toronto Stock Exchange: SDI.

Somagen Diagnostics Inc. is a leading supplier of in vitro diagnostic technologies to the Canadian Market. Somagen's focus is on providing superior levels of value and service with products that are relevant and make a significant impact on the overall health of Canadians through better and faster diagnosis and improved patient management.

Information in this news release that is not current or historically factual information may constitute forward-looking information within the meaning of securities laws. Implicit in this information, the future outlook of Spectral and anticipated events or results are assumptions based on beliefs of Spectral's senior management as well as information currently available to it. While these assumptions were considered reasonable by Spectral at the time of preparation, they may prove to be incorrect. Readers are cautioned that actual results are subject to a number of risks and uncertainties, including the availability of funds and resources to pursue R&D projects, the successful and timely completion of clinical studies, the ability of Spectral to take advantage of business opportunities in the biomedical industry, the granting of necessary approvals by regulatory authorities as well as general economic, market and business conditions, and could differ materially from what is currently expected.

Spectral Diagnostics Inc.

CONTACT: Spectral Diagnostics Inc., Mr. Anthony Businskas, Chief FinancialOfficer, (416) 626-3233 ext. 2200


Read at BioSpace.com


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