Medwell announces service agreement with Spectral Diagnostics

Mar 29 2011

Medwell Capital Corp. (TSXV: MWC) today announced that the service agreement under which Medwell provides clinical, regulatory and capital markets consulting services to Spectral Diagnostics (TSX: SDI) has been increased to $1.5 million per year, from $1.0 million, effective January 2011, in exchange for an increased level of service.

"We look forward to providing Spectral with additional clinical and regulatory resources, as well as enhancing their IR/PR initiatives as they advance their U.S. phase III clinical trial for Toraymyxin in patients with severe sepsis," said Kevin Giese, President and CEO of Medwell Capital. "Our recent $1.7 million additional investment in Spectral, as announced on March 28, 2011, reflects our confidence in Spectral's technology and the large market opportunity that exists for Spectral in the area of sepsis."