Spectros Corp. Enters Into Optical Biotechnology Patent Sale Agreement With Philips Electronics N.V.

PORTOLA VALLEY, Calif., May 3 /PRNewswire/ -- Spectros announced today that it entered into a patent sale agreement with Koninklijke Philips Electronics N.V. (NYSE: PHG). Under this agreement, Philips purchased a patent related to technology for multispectral pulse oximetry, an approach first developed and patented by Spectros.

"We are pleased that Philips has recognized the value inherent in Spectros' intellectual property covering multispectral pulse oximetry," noted David Benaron, CEO. "Spectros has one of the largest optical biotechnology portfolios in the medical, sensing, and illumination markets."

Previously, Spectros has closed technology sale, license, or access agreements, including with LI-COR, Caliper Life Sciences, FirstScan, Merck Research, Rita Medical, and Boston Scientific Corporation.

About Spectros

Spectros markets advanced molecular sensing and imaging devices that shed light on ischemia and cancer. The company's champion product, the T-Stat VLS Tissue Oximeter, is the first medical device FDA-approved as sensitive to ischemia, an insufficient supply of oxygen to tissue. T-Stat is the only commercially-available tissue oximeter that utilizes state-of-the-art white LEDs and broadband visible light spectroscopy (VLS) technology. The non-invasive T-Stat system is used clinically to provide an absolute, continuous, and real-time tissue oxygenation value, utilizing 260 wavelengths versus only 2-4 wavelengths for competing NIRS products. The Spectros T-Stat competes in the ICU oximetry marketplace with noninvasive devices from Somanetics, CAS Medical, and Masimo Corporation; and competes in the Plastic Surgery market with Vioptix.

Spectros is also developing Continuum and ProstaFluor molecular diagnostic tools for breast and prostate cancer, currently in phase I/II human clinical trials supported by the National Cancer Institute. Spectros is a venture-supported private concern and markets its products in the U.S. and internationally.

(Note: Forward-looking statements are intended as a guide only, and do not constitute an offer for investment nor a guarantee of future events or returns. Certain Spectros applications described above have not been reviewed and approved by the FDA, and are therefore labeled for investigational use only. T-Stat, FireFly, Continuum, VLS, and ProstaFluor are trademarks of Spectros).

SPECTROS CONTACT: For further information, visit www.spectros.com, or contact Ms. Elizabeth van Thillo at [email protected] or at (650) 529-2865.

SOURCE Spectros