Spectral Announces Effective Date of Name Change

TORONTO, ONTARIO--(Marketwired - Dec. 16, 2014) - Spectral Diagnostics Inc. ("Spectral" or the "Company") (TSX:SDI)(OTCQX:DIAGF), a Phase III company developing the first theranostic treatment for patients with septic shock, today announced that its previously announced name change to "Spectral Medical Inc." will be effective December 31, 2014. This new name will reflect the Company's continuing transition into a therapeutic development company, with a strategic focus on the development and commercialization of a treatment for severe sepsis and septic shock using our Endotoxin Activity Assay and the Toraymyxin™ ("PMX") therapeutic.

From and after December 31, 2014, the common shares of the Company will trade on the Toronto Stock Exchange under the symbol "EDT" and on the OTCQX under the symbol "EDTXF". The Company's address, telephone numbers, website URL and email addresses will all remain unchanged.

About Spectral Diagnostics Inc.

Spectral is a Phase III company seeking U.S. FDA approval for its lead theranostics product for the treatment of endotoxemic septic shock. PMX is a therapeutic hemoperfusion device that removes endotoxin, a main trigger of sepsis, from the bloodstream. Directed by the Company's Endotoxin Activity Assay (EAA™), the only FDA cleared diagnostic for the risk of developing sepsis, Spectral's EUPHRATES trial is the world's only active and most innovative Phase III study in the area of septic shock.

PMX has been approved for therapeutic use in Japan and Europe, and has been used safely and effectively on more than 100,000 patients to date. In March 2009, Spectral obtained the exclusive development and commercial rights in the U.S. for PMX, and in November 2010, signed an exclusive distribution agreement for this product in Canada. Approximately 350,000 patients are diagnosed with septic shock in North America each year, representing a greater than $3 billion market opportunity for Spectral.

Spectral is listed on the Toronto Stock Exchange currently under the symbol SDI, and on the OTCQX under the symbol DIAGF.

For more information please visit www.spectraldx.com.

The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of this statement.