SpectraScience has developed patented platform technology that diagnoses colorectal cancer, which has a market size of $1, 442.6 million. The company provides faster, more accurate, non-invasive detection and diagnosis of cancerous tissue. SpectraScience has several technologies that help diagnose colorectal cancer.
The driving innovations behind diagnosing colorectal cancer are WavSTAT Optical Biopsy System and Laser Induced Fluorescence (LIF) Technologies. These innovations replace physical biopsies with optical biopsies when differentiating between normal and cancerous tissue and result in definitive, instant diagnosis and significantly reduce costs of follow-on procedure.
The procedure is efficient as gastroenterologists do not need to learn nothing new and is compatible with existing endoscopes, enabling significant cost savings. The procedure can even be performed by nurses, saving time and resources. Future goals of this later-stage medical device company is to further its technologies to target indications including esophageal cancer, bladder cancer, and lung cancer.
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