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Spectral to enhance the Sales and Marketing team in Canada

TORONTO, Oct. 31, 2018 (GLOBE NEWSWIRE) -- Spectral Medical Inc. (“Spectral” or the “Company”) (TSX:EDT), a Phase III company developing the first treatment for patients with endotoxemic septic shock guided by a companion diagnostic, today announced the appointment of Mr. Anjan Sidhu as Director of Sales and Marketing.

Mr. Sidhu will be primarily responsible for the development of commercial opportunities for Toraymyxin, Endotoxin Activity Assay (EAA™) and the new proprietary CRRT Machine on the Canadian Market.

“We are very excited to add Anjan to the Spectral team,” said Dr. Gualtiero Guadagni, Vice President of Sales and Marketing for Spectral. “Anjan has very extensive experience in market development and sales of extracorporeal treatments (such as CRRT) in the Canadian hospital environment.”

Anjan brings over 20 years of Pharmaceutical and Medical Device Sales and Marketing experience.  He began his career at Eli Lilly moving through a variety of progressive roles in finance, sales, and sales training.  He then branched into medical devices where he led the marketing efforts for Boston Scientific’s Cardiology division and served as a Regional Sales Manager and Market Development Manager.  He also served as a Senior Marketing Manager for the ICU Renal Acute team at Baxter Canada and then eventually led the team as Business Unit Manager. Anjan holds a Bachelor of Engineering degree and an M.B.A in finance from McMaster University in Hamilton, Ontario.

About Spectral

Spectral is a Phase III company seeking U.S. FDA approval for its unique product for the treatment of patients with septic shock, Toraymyxin™ (“PMX”). PMX is a therapeutic hemoperfusion device that removes endotoxin, which can cause sepsis, from the bloodstream and is guided by the Company’s Endotoxin Activity Assay (EAA™), the only FDA cleared diagnostic for the risk of developing sepsis.

PMX has been approved for therapeutic use in Japan and Europe and has been used safely and effectively on more than 150,000 patients to date. In March 2009, Spectral obtained the exclusive development and commercial rights in the U.S. for PMX, and in November 2010, signed an exclusive distribution agreement for this product in Canada. Approximately 350,000 patients are diagnosed with severe sepsis and septic shock in North America each year. Spectral is listed on the Toronto Stock Exchange under the symbol EDT. For more information please visit www.spectraldx.com.

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, general economic, market and business conditions, as well as other risks and uncertainties which are more fully described in Spectral’s Annual Information Form dated March 28, 2018, and in other filings of Spectral with securities and regulatory authorities which are available at www.sedar.com. Spectral does not undertake any obligation to update forward-looking statements these assumptions change. Nothing in this document should be construed as either an offer to sell or a solicitation to buy or sell Spectral securities.

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

For further information please contact:

Dr. Paul Walker
President and CEO
Spectral Medical Inc.
416-626-3233 ext. 2100
pwalker@spectraldx.com
Ali Mahdavi
Capital Markets & Investor
Relations
416-962-3300
am@spinnakercmi.com
Wednesday, October 31, 2018 - 08:00