NORCROSS, Ga.--(BUSINESS WIRE)--Guided Therapeutics, Inc. (OTCQB: GTHP), the maker of a rapid and painless testing platform based on its patented biophotonic technology, today announced it has signed a letter of intent with its Russian and Eastern European Sales and Marketing partner, Newmars Group Kft., to accelerate marketing and sales of the LuViva Advanced Cervical Scan in those territories. The agreement follows the recent announcement of positive LuViva clinical findings and projected orders for Russia and Eastern Europe. The new projections indicate that LuViva will enter the market next year with sales of LuViva devices and disposables in excess of 500 devices and 1.5 million disposable cervical Guides over a five year period.
“We can now add Russia and Eastern Europe to the list of large screening markets that we expect to become active and place significant orders next year, including China, Turkey and possibly India”, said Gene Cartwright, CEO of Guided Therapeutics.
According to the World Health Organization, cervical cancer is ranked as one of the most frequent cancers in women. Central and Eastern Europe have a population of approximately 112 million women above 15 years of age, who are at risk of developing cervical cancer. The current estimates indicate approximately 1,971 per 100,000 new cases diagnosed and 886 per 100,000 deaths annually in Central and Eastern Europe, making the control of this deadly disease a priority for those countries.
About Guided Therapeutics
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: www.guidedinc.com.
The Guided Therapeutics LuViva® Advanced Cervical Scan is an investigational device and is limited by federal law to investigational use in the U.S. LuViva, the wave logo and "Early detection, better outcomes" are registered trademarks owned by Guided Therapeutics, Inc.
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, 2017 and subsequent filings.