Lifeline Scientific, Inc Grant of options (1696E)

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RNS Number : 1696E

Lifeline Scientific, Inc

07 May 2013

Wednesday 7 May 2013

Lifeline Scientific, Inc.

("Lifeline" or "the Company")

Grant of options

Lifeline Scientific, the medical technology company focused on the worldwide commercialization of its LifePort Kidney transporter, a product designed to address the global challenge of human donor organ shortages, announces that on 3 May 2013 it granted a total of 219,000 options over common shares with an exercise price of GBPGBP1.90. The options vest over the first 4 years from the date of issue, being 3 May 2013, at a rate of 25 per cent. per annum and are exercisable for a period of 10 years.

Included in that grant of options are the following options awards to members of the Board and senior management:

 
                  3 May grant 
---------------  ------------ 
 David Kravitz      85,000 
---------------  ------------ 
  Lisa Kieres       25,000 
---------------  ------------ 
  John Garcia        1,750 
---------------  ------------ 
  Andrew Clark       1,500 
---------------  ------------ 
 Klaas de Boer      10,000 
---------------  ------------ 
  Steven Mayer       1,500 
---------------  ------------ 
  Eric Swenden       1,500 
---------------  ------------ 
 

For further information:

 
 Lifeline Scientific, Inc.                   Tel: [phone] 
 David Kravitz, CEO 
 
 Panmure Gordon (UK) Limited                 Tel: [phone] 
 Freddy Crossley / Fred Walsh. (Corporate 
  Finance) 
 Adam Pollock / Victoria Boxall (Corporate 
  Broking) 
 
 FTI Consulting                              Tel: [phone] 
 Simon Conway / John Dineen 
 

About LifePort Kidney Transporter

Created with the challenges of organ recovery and transport in mind, LifePort Kidney Transporter is a proprietary medical device designed to provide improved kidney preservation, evaluation and transport prior to transplantation. Today, it is widely recognised as the world's leading machine preservation device for kidneys. Employed by surgeons in over 135 leading transplant programmes in 23 countries worldwide, LifePorts have successfully preserved over 38,000 kidneys intended for clinical transplant. The product provides a sealed, sterile, protected environment where a solution is gently pumped through the kidney at cold temperatures to minimise damage while the organ is outside the body. LifePort is lightweight and portable, allowing organs to be perfused from the time of recovery until transplant. It is designed to travel unaccompanied by land or air, safely transporting the kidneys across town or between countries. While the kidney is being perfused, LifePort records data on temperature, flow rate, vascular resistance and pressure every 10 seconds providing surgeons with additional data prior to transplant. LifePort is the only system with clinical outcomes data produced from an independent, prospective, randomised, statistically powered, multi-centre clinical trial. Study results have been widely published in scientific journals, including the New England Journal of Medicine. Data indicates that patients receiving LifePort preserved kidneys experienced significant reduction in the incidence and duration of delayed graft function and increased graft survival at 1-year and 3-years post transplant. LifePort has also been recognised for its design and engineering. It has received prominent awards for design excellence from the medical device industry, has been selected for exhibition at the Smithsonian Cooper-Hewitt, National Design Museum and is part of the permanent Collection of The Museum of Modern Art (MoMA) in New York City.

About Lifeline Scientific, Inc.

Lifeline Scientific, Inc. is a Chicago-based global medical technology company with regional offices in Brussels and Sao Paulo. The Company's focus is the development of innovative products that improve transplant outcomes and lower the overall costs of transplantation. Its lead product is the FDA cleared, CE marked and clinically validated LifePort Kidney Transporter. Devices for preservation of the liver, pancreas, heart, and lung are in late stage pre-clinical development.

See www.lifeline-scientific.com

This information is provided by RNS

The company news service from the London Stock Exchange

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