This approval will result in the delivery of a marketing authorization license, which is the first step in selling the technology to hospitals and physicians in the Kingdom of Saudi Arabia.

SpectraScience president and CEO Michael Oliver noted that this is an important first step which will allow the company to accelerate its sales efforts with its distribution partner.

"The Kingdom of Saudi Arabia has one of the most advanced medical delivery systems in the world. They are rapid adopters of technologies that provide improved care, increased patient safety and lower costs.

"Our WavSTAT4 Optical Biopsy System provides a fast, safe, accurate and cost-effective way to differentiate benign and cancerous lesions in the colon with a 96% negative predictive value. We look forward to making it available to patients across the healthcare system," Oliver added.