QualityStocks would like to highlight Guided Therapeutics, Inc. (OTCBB: GTHP). The company is developing a rapid and painless testing platform for the early detection of disease based on its patented biophotonic technology that utilizes light to detect disease at the cellular level. Their first planned product is the LuViva® Advanced Cervical Scan, a non-invasive device used to detect cervical disease instantly and at the point of care. In a multi-center clinical trial, with women at risk for cervical disease, the technology was able to detect cervical cancer up to two years earlier than conventional modalities, according to published reports. Guided Therapeutics has also entered into a partnership with Konica Minolta to develop a non-invasive test for Barrett’s Esophagus using the technology platform.
In the company’s news yesterday,
Guided Therapeutics signed an agreement in which I.T.E.M Medical Technologies Group has exclusive distribution rights for the LuViva® Advanced Cervical Scan, GTHP’s non-invasive device used to detect cervical disease.
LuViva is a diagnostic device designed to be used before colposcopy to identify women without disease and prevent them from receiving unnecessary cervical tissue biopsies. The technology does not require laboratory analysis or tissue sample, and provides immediate results. The device is used in conjunction with the LuViva® Cervical Guide single-use patient interface and calibration disposable.
Per the agreement, I.T.E.M. will distribute the device in Turkey, Iraq, and Azerbaijan for three years. The addition of these territories brings to 12 the number of territories under definitive distribution relationships in Europe, North America, Asia, and Africa.
The initial shipment of one LuViva demonstration unit was completed in September, and GTHP said it expects to launch the product upon receiving CE Mark, Third Edition approval, which it anticipates before the end of the current year.
“The selection of I.T.E.M. as a qualified distributor for LuViva establishes a bridge from Europe to Asia and aligns us with a highly-experienced team that has demonstrated success in introducing and selling new technologies into a rapidly developing market eager for medical innovation,” Mark L. Faupel, Ph.D., CEO and president of GTHP stated in the press release. “Due diligence is also ongoing in a number of other territories with additional agreements pending.”
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