Toray Industries makes $5 million strategic investment in Spectral Diagnostics

Toray Industries makes $5 million strategic investment in Spectral Diagnostics 
TORONTO, March 7, 2013 /CNW/ - Spectral Diagnostics Inc. (TSX: SDI) (OTC QX: 
DIAGF) ("Spectral", or the "Company") today announced that it has entered into 
a private placement agreement with Toray Industries, Inc. ("Toray"), pursuant 
to which Toray will invest $5 million in Spectral. 
Under the terms of the private placement (the "Private Placement"), the 
Company will issue 16,666,667 common shares in the capital of the Company 
("Common Shares") to Toray at a price of $0.30 per Common Share, for gross 
proceeds of $5 million. 
The net proceeds of the Private Placement will be used to continue to support 
the Company's EUPHRATES clinical trial and for general corporate purposes. 
Following the closing of the Private Placement, Toray's investment will 
represent approximately 12.8% of the issued and outstanding Common Shares, 
calculated on a non-diluted basis. Under the terms of the Private Placement, 
Toray will be entitled to nominate one director to the Spectral board for as 
long as it holds 10% or more of the issued and outstanding Common Shares 
(calculated on a non-diluted basis). 
"This strategic investment not only provides additional funds for our clinical 
trial, but also strengthens the existing collaborative relationship we have 
with Toray," said Anthony Businskas, Executive Vice President and CFO of 
Spectral. "We will work with Toray to complete clinical research for U.S. FDA 
market approval of Toraymyxin, and we will seek to further expand acceptance 
of the EAA(TM)/ Toraymyxin theranostic in jurisdictions outside of Japan." 
Closing of the Private Placement is subject to the approval of the Toronto 
Stock Exchange and other customary closing conditions. The Private Placement 
is currently expected to close at the beginning of April, 2013. 
About Spectral Diagnostics 
Spectral is a Phase III company seeking U.S. FDA approval for its lead 
theranostics product (Toraymyxin) for the treatment of septic shock. 
Toraymyxin is a therapeutic hemoperfusion device that removes endotoxin, which 
can cause sepsis, from the bloodstream. Directed by the Company's Endotoxin 
Activity Assay (EAA™), the only FDA-cleared diagnostic for the risk of 
developing sepsis, Spectral's EUPHRATES trial is the world's first 
theranostics trial in the area of sepsis. 
Spectral is listed on the Toronto Stock Exchange under the symbol SDI, and on 
the OTC QX under the symbol DIAGF. For more information please visit 
About Toray Industries, Inc. 
Toray Industries, Inc. is a Japanese-based manufacturer of fibers, textiles, 
plastics, chemicals, IT related products, carbon fiber composite materials, 
environmental and engineering equipment, and pharmaceutical and medical 
products. In FY 2011, Toray was active in 23 countries and regions, and had 
net sales of ¥1.6 trillion (approximately U.S.$19 billion). Toray 
manufactures the Toraymyxin hemoperfusion device and has licensed to Spectral 
the exclusive rights to this product in the United States and granted the 
Company exclusive distribution rights in Canada. 
Note: U.S. dollar amounts have been converted from yen at the exchange rate of 
¥82.2 = U.S.$1, the approximate rate of exchange prevailing on March 31, 2012. 
Forward-looking statement 
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 as well as general economic, market and business conditions, and 
could differ materially from what is currently expected. 
The TSX has not reviewed and does not accept responsibility for the adequacy 
or accuracy of this statement. 
Spectral Diagnostics Inc. 
Anthony Businskas Executive Vice President and CFO 416-626-3233 ext. 2200 
Adam Peeler Investor Relations 416-815-0700 ext. 225 
SOURCE: Spectral Diagnostics 
To view this news release in HTML formatting, please use the following URL: 
CO: Spectral Diagnostics
ST: Ontario
-0- Mar/07/2013 12:00 GMT
Press spacebar to pause and continue. Press esc to stop.