Spectral Diagnostics Inc., (TSX:SDI), today announced that it has signed a long-term, exclusive distribution agreement with Toray Industries, Inc. and Toray Medical Co., Ltd. of Japan (collectively "Toray") to market and sell Toraymyxin™ in Canada. Toraymyxin™ is a therapeutic hemoperfusion device that removes endotoxin, which can cause sepsis, from the bloodstream. This product and Spectral's EAA™ diagnostic, which measures endotoxin and identifies patients for treatment, are already approved for sale by Health Canada.
"We are very pleased to have secured the Canadian distribution rights for this product. In conjunction with the U.S. license agreement signed last year, Spectral now has exclusive access to a potential North American market in excess of $1 billion," said Anthony Businskas, Executive Vice President and CFO of Spectral.
"This expansion of market jurisdictions further confirms our strong business relationship with Toray and the outstanding market opportunity for this unique treatment for severe sepsis, combining our proprietary EAA™ diagnostic with the Toraymyxin™ therapeutic. We expect to begin market development activities in Canada during 2011," added Dr. Paul Walker, President and CEO of Spectral.
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