SpectraScience, Inc. (OTCQB: SCIE) develops and markets a technology platform to instantly determine whether a tissue is normal, pre-cancerous, or cancerous without the need for a physical biopsy. It offers WavSTAT4 Optical Biopsy System, a minimally invasive technology system that operates by using UV laser light to optically illuminate and analyze tissue, enabling the physician to make an instant diagnosis during endoscopy when screening for cancer. SNNLive spoke with Michael Oliver, President and CEO of SpectraScience, Inc. at the LD Micro "Main Event" 2014 in Bel Air, CA.
Mr. Oliver begins with an overview of the company, “SpectraScience is a medical device company with a unique technology for doing optical biopsies. We use light to actually diagnose pre-cancers during colorectal cancer screening, it’s safer for the patient, it’s faster for the clinician and it’s less expensive for the healthcare system.”
He explains the current market for this technology, “There are about 15 million screening colonoscopies done in the US annually and about the same number frankly that are done throughout Europe. I’ve seen some market data that says those numbers are going to go up about 10% per annum over the next 10-15 years as population age and as in Europe screen colonoscopies become more common.”
He concludes with how easy it is to use the technology, “There is no additional training that’s required and importantly we don’t ask the clinician to change their procedure, so we work through the existing scopes, our product is compatible with all the existing brands of scopes that are screening colonoscopies and we do it in such a way that the results are so easy to interpret that not only can doctors do it, but nurse clinicians and nurse practitioners who in many countries do screening colonoscopies can do it as well.” For more information, check out their website at: www.SpectraScience.com
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