Cascade Technologies of Calgary, Alberta, has closed on its acquisition of privately held Los Angeles-based medical device developer Spectral Molecular Imaging.
Terms of the stock transaction were not disclosed, though Cascade did issue approximately 31.7 million shares of its common stock in connection with the acquisition.
Spectral Molecular Imaging specializes in spectral-optical-imaging technology for the in vivo early diagnosis of cancer and precancerous conditions. The company currently is developing noninvasive devices that use its patented technology for enhanced clinical diagnostics, primarily in the field of cancer pathology.
The optical diagnostic products would operate in conjunction with surgical and/or evaluation procedures in real-time. The technology utilizes high-resolution imaging, identification, and analysis of certain molecular, cellular, and tissue features via spectral imaging approaches.
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