TORONTO, June 05, 2019 (GLOBE NEWSWIRE) -- Spectral Medical Inc. (“Spectral” or the “Company”) (TSX: EDT), a Phase III company developing the first treatment for patients with septic shock guided by a companion diagnostic, today announced that, at the annual and special meeting (the “Meeting”) of shareholders of the Company (“Shareholders”) that was held yesterday, all six nominees for the board of directors of the Company were elected, the voting results of which are as follows:
| Director | Number and percentage of
common shares of the Company
(“Shares”) represented in person
or by proxy and entitled to vote at
the Meeting that were voted FOR | Number and percentage of Shares
represented in person or by proxy and
entitled to vote at the Meeting that were
WITHHELD from voting |
| Paul M. Walker | 124,588,408 (99.49%) | 635,585 (0.51%) |
| Anthony Bihl III | 124,571,259 (99.48%) | 652,734 (0.52%) |
| Kevin Giese | 124,013,959 (99.03%) | 1,210,034 (0.97%) |
| Jun Hayakawa | 124,571,459 (99.48%) | 652,534 (0.52%) |
| Guillermo Herrera | 124,591,459 (99.49%) | 632,534 (0.51%) |
| William Stevens | 124,571,459 (99.48%) | 652,534 (0.52%) |
Further, the resolution to reapprove Stock Option Plan V of the Company until June 4, 2022 was adopted by disinterested Shareholders at the Meeting.
Full details of the foregoing are contained in the Report of Voting Results for the Meeting which has been filed on SEDAR at www.sedar.com.
About Spectral Medical Inc.
Spectral is a Phase III company seeking U.S. Food and Drug Administration (“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 170,000 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, through its wholly owned subsidiary, Dialco Medical Inc. (“Dialco”), is also commercializing a new proprietary platform, “SAMI”, targeting the renal replacement therapy (“RRT”) market. Dialco is also seeking regulatory approval for “DIMI” which is based on the same RRT platform but will be intended for home hemodialysis use.
Spectral is listed on the Toronto Stock Exchange under the symbol EDT. For more information, please visit
www.spectraldx.com.
Forward-looking statements
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 27, 2019, and in other filings of Spectral with securities and regulatory authorities which are available at www.sedar.com. There is no guarantee that Spectral will obtain the FDA approval of PMX in the United States. Spectral does not undertake any obligation to update forward-looking statements should 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 & CEO
Spectral Medical Inc.
416-626-3233 ext. 2100
pwalker@spectraldx.com | Ali Mahdavi
Capital Markets & Investor Relations
416-962-3300
am@spinnakercmi.com |
