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Spectral Diagnostics (SDI.TO) Appoints Two New Board Members



3/10/2010 11:41:52 AM

TORONTO, March 10 /PRNewswire-FirstCall/ - Spectral Diagnostics Inc. , a company developing products for the treatment of sepsis, today announced the appointment of Mr. Kevin Giese, President, CEO and Director of BioMS Medical and Mr. Laine Woollard, QC, Senior Legal Counsel of TEC Edmonton, to the Company's Board of Directors.

"Mr. Giese and Mr. Woollard will be valuable additions to the Board, bringing significant business experience," said Dr. Paul Walker, President and CEO of Spectral. "Their leadership will be important to Spectral as the Company implements its theranostics strategy in the area of sepsis."

Mr. Giese has a B.A. in economics, a law degree, and an M.B.A. He is the founding President of BioMS Medical, and has been in senior management roles and on the board of directors of a number of private and publicly listed companies. He is a past advisory board member of the Institute of Corporate Directors (Canada) and is currently a member of the Board of Directors of BioAlberta. In 2005, he received the BioAlberta Award for Entrepreneurship.

Mr. Woollard has degrees in Pharmacy and Pharmaceutical Science, passing the Pharmaceutical Examining Board of Canada examinations in 1983, and in Law, becoming a Member of the Alberta Bar in 1987. He has been corporate counsel and practiced in the field of technology commercialization since 1990, joining the University of Alberta in 1994, and has served on the Board of Directors of six for-profit corporations. Mr. Woollard has been Lead Independent Director for BioMS Medical Corporation since 2005.

About Spectral Diagnostics

Spectral is a leader in the battle against sepsis. Spectral's lead product is its Endotoxin Activity Assay (EAA(TM)), the only FDA cleared assay for the measurement of endotoxin. With the growing awareness for the role of endotoxemia in sepsis and the increasing number of therapies being developed for this indication, Spectral is well-positioned to drive the adoption of the EAA(TM), which can be used to identify patients, enable therapeutics and monitor treatment. In March 2009, Spectral obtained the exclusive development and commercial rights in the U.S. for Toraymyxin(TM), a therapeutic for the treatment of sepsis that removes endotoxin from the bloodstream. Spectral will seek FDA approval for Toraymyxin(TM) and intends to commercialize the product together with EAA(TM). Spectral is listed on TSX under the symbol SDI.

Forward-looking statement

Information in this news release that is not current or historical factual information may constitute forward-looking information within the meaning of securities laws. Implicit in this information, particularly in respect of 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.

The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of this statement.

CONTACT: Dr. Paul Walker, President & CEO, (416) 626-3233 ex. 2100; Casey
Gurfinkel, Investor Relations, (416) 815-0700 ext. 283,
cgurfinkel@equicomgroup.com


Read at BioSpace.com


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