Spectral receives McMaster Industry Partner of the Year Award for aptamer discovery research

TORONTO, June 23 /CNW/ - Spectral Diagnostics Inc. (TSX:SDI) a company developing products for the treatment of sepsis, today announced it has received the McMaster University Industry Partner of the Year Award for its contribution to the discovery and development of aptamer technology for the diagnosis and treatment of sepsis. The discovery research was performed in the laboratory of Dr. Yingfu Li, a leading authority in the research and development of aptamers, at McMaster University in Hamilton, Ontario.

"This recognition reflects our broad expertise in the field of endotoxin and its role as a cause of sepsis," said Dr. Paul Walker, President and CEO of Spectral. "The combination of Dr. Li's extensive work with aptamers and Spectral's pioneering work with endotoxin has led to the development of aptamers that can potentially bind to endotoxin. While our current focus is clearly on managing the pivotal trial for Toraymyxin(TM) in the U.S., this technology could open up future opportunities in the area of sepsis, providing unique, new tools for its diagnosis and treatment. Our work with Dr. Li and McMaster University is ongoing and we look forward to the further development of this technology and the possibility of future discoveries that this partnership could facilitate."

Aptamers are a new class of pharmacologic molecules based on DNA fragments that mimic protein action, allowing them to bind specifically to a targeted molecule.

This award provides recognition to corporations who have made a significant contribution to developing the University's research mandate. Nominations were received from university and hospital faculty and staff, with final selection by a committee of business executives, government officials, and senior university administration.

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.

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Spectral receives McMaster Industry Partner of the Year Award for aptamer discovery research