November 8, 2007 - SpectraScience Inc. announced today that it has acquired all of the shares of Luma Imaging Corp., which has developed and received FDA approval for an optical noninvasive diagnostic imaging system that is reportedly proven to more effectively detect cervical cancer precursors than using conventional means alone (i.e., colposcopy).
The acquisition was accounted for as an exchange of the shares of both companies and includes substantial inventory and the worldwide application for 51 patents, 28 of which have issued, with a Notice of Allowance from the U.S. Patent and Trademark Office on two additional applications and 21 patents that are pending.
The company's LUMA Cervical Imaging System utilizes a single-use disposable probe and requires little additional training as it leverages clinicians' existing skill sets. When used as an adjunct to colposcopy, LUMA reportedly detects significantly more high-grade cervical cancer precursors than colposcopy alone. Clinical trials comprised of over 3,000 women have demonstrated LUMA's ability to detect over 25 percent more atypical squamous cells of undetermined significance and low-grade squamous intraepithelial lesion (ASCUS/LSIL) cancer cell precursors than colposcopy alone. These findings often show up as mild abnormalities on Pap tests.
For more information: www.spectrascience.com