PEACHTREE CORNERS, Ga.--(BUSINESS WIRE)--Sep 14, 2020--
Guided Therapeutics, Inc. (OTCQB: GTHP), the maker of a rapid and painless testing platform based on its patented biophotonic technology, announced that it had shipped four LuViva Advanced Cervical Scan systems and associated disposables to its Chinese co-manufacturing partner and distributor for China, Shandong Yaohua Medical Instrument Corporation. Shandong will use the devices and disposables to help gain approval from the Chinese FDA by using them for regulatory evaluations and clinical studies. Guided Therapeutics will recognize $76,715 in revenue from the sales order.
“The sale of these systems is another important step in addressing the world’s second largest medical device market,” said Gene Cartwright, CEO of Guided Therapeutics. “We look forward to working with Shandong in their efforts to gain approval to sell LuViva in China.”
According to the World Health Organization, cervical cancer is ranked as one of the most frequent cancers in women in the world and in China it is the second most common cancer among women. China has a population of approximately 560 million women above 15 years of age, who are at risk of developing cervical cancer. Current estimates indicate approximately 100,000 new cases of cervical cancer are diagnosed each year and 30,000 deaths occur annually due to cervical cancer in China.
Guided Therapeutics, Inc. (OTCQB: GTHP) is the maker of a rapid and painless testing platform based on its patented biophotonic technology that utilizes light for the early detection of disease at the cellular level. The Company’s first 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. For more information, visit: .
Forward-Looking Statements Disclaimer: A number of the matters and subject areas discussed in this news release that are not historical or current facts deal with potential future circumstances and developments. The discussion of such matters and subject areas is qualified by the inherent risks and uncertainties surrounding future expectations generally and also may materially differ from Guided Therapeutics’ actual future experience involving any of or more of such matters and subject areas. Such risks and uncertainties include those related to the early stage of commercialization of products, the uncertainty of market acceptance of products, the uncertainty of development or effectiveness of distribution channels, the intense competition in the medical device industry, the sufficiency of capital raised in prior financings and the ability to realize their expected benefits, the uncertainty of future capital to develop products or continue as a going concern, the uncertainty of regulatory approval of products, and the dependence on licensed intellectual property, as well as those that are more fully described from time to time under the heading “Risk Factors” in Guided Therapeutics’ reports filed with the SEC, including Guided Therapeutics’ Annual Report on Form 10-K for the fiscal year ended December 31, 2019 and subsequent filings.
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CONTACT: Mark Faupel
KEYWORD: CHINA UNITED STATES NORTH AMERICA ASIA PACIFIC GEORGIA
INDUSTRY KEYWORD: FDA OTHER HEALTH ONCOLOGY GENERAL HEALTH MEDICAL DEVICES WOMEN HOSPITALS CLINICAL TRIALS SCIENCE BIOTECHNOLOGY CONSUMER OTHER SCIENCE HEALTH RESEARCH MEDICAL SUPPLIES
SOURCE: Guided Therapeutics, Inc.
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PUB: 09/14/2020 09:00 AM/DISC: 09/14/2020 09:01 AM