Lifeline Scientific, Inc New business wins in the US and Brazil (2832I)

TIDMLSIC

RNS Number : 2832I

Lifeline Scientific, Inc

08 December 2015

Lifeline Scientific, Inc.

("Lifeline" or the "Company")

Significant New Business in North America and Brazil

Lifeline Scientific (AIM: LSIC), the transplantation technology company, announces significant new business wins in North America and Brazil, which combined are expected to contribute in excess of US$1.5m in annualised revenues.

Key account wins in the US

Lifeline has continued to grow its key North American customer base with orders for LifePort Kidney Transporters, related consumables and preservation solutions from several new US regions. New and expanded business includes key accounts in the organ procurement regions of Southern California, Kentucky, Nebraska and northern Florida. Total revenue from this new business is anticipated to exceed US$0.8m during the next 12 months. These programmes combined are estimated to recover more than 700 kidneys for transplant annually. LifePort Kidney Transporter is the standard of care for machine preservation of donor kidneys in most donor organ procurement programmes within the US and in all provinces of Canada. North America remains the largest

contributor to the Company's revenue base, accounting for nearly 79% of total transplantation and services revenues in the year ended 31 December 2014.

Significant Orders and New Clinical Evidence from Brazil

In addition, the Company announces a significant order of LifePort Kidney Transporter consumables and preservation solutions from the State of Rio de Janeiro and a new LifePort site in the state of Goias, in Central Brazil. These orders total approximately US$0.78m and come on the back of significant new clinical evidence supporting LifePort adoption that was presented at last month's annual meeting of the Brazilian Society of Transplantation. Separate presentations from four major transplant programmes each demonstrated important clinical and economic benefits for LifePort vs. Brazil's present standard of donor kidney preservation, static cold storage (a cool box filled with ice). Among the data presented were outcomes of Brazil's pivotal 120 patient independent investigator driven multi-centre (10 centres), randomised, prospective, controlled LifePort clinical study. Notable findings included significantly faster recovery of renal function post-transplant, significant reductions in the incidents of acute rejection and significantly reduced length of hospital stay. Lead investigators were surgeon-scientists from Sao Paulo based Hospital do Rim, the world's largest volume renal transplant centre. Additional studies were presented by surgeon-scientists from Albert Einstein Hospital (Sao Paulo); General Hospital (Fortaleza), and the Organ Procurement Organization for the state of Porto Alegre.

Commenting David Kravitz, CEO of Lifeline Scientific, said: "We are grateful to see continued further adoption and use of LifePort within our core North American market. As we highlighted in our Half Yearly Report, Brazil has the potential to become a significant market for Lifeline given that it is the world's second largest national renal transplant market with reportedly over 4,500 deceased donor kidneys recovered annually for transplants across 127 renal transplant centers. These orders, coming on the back of significant new clinical evidence from Brazil, are an important milestone for potential wider LifePort adoption as the standard of care for machine preservation of donor kidneys across the country."

For further information:

 
 Lifeline Scientific, Inc                              www.lifeline-scientific.com 
 David Kravitz, CEO                                           Tel: [phone] 
 Lisa Kieres, CFO                                             Tel: [phone] 
 
 Panmure Gordon (UK) Ltd                                  Tel: [phone] 
 Freddy Crossley (Corporate 
  Finance) 
 Tom Salvesen (Corporate 
  Broking) 
 
 Walbrook PR Ltd              Tel: [phone] or [e-mail] 
 Paul McManus                                             Mob: [phone] 
 Mike Wort                                                Mob: [phone] 
 

About Lifeline Scientific, Inc

Lifeline Scientific, 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, LifePort Kidney Transporter, is the global market-leading medical device for hypothermic machine preservation of donor kidneys. LifePorts and novel solutions designed for preservation of other organs are in development, with LifePort Liver Transporter next in line for commercial launch. For more information please visit www.lifeline-scientific.com

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 help improve kidney preservation, evaluation and transport prior to transplantation. It has been widely studied in clinical trials throughout the world and is the standard of care for machine preservation of kidneys. Employed by surgeons in over 206 leading transplant programmes in 29 countries, LifePorts have preserved more than 70,000 kidneys indicated for clinical transplant. For more information please visit www.organ-recovery.com

About LifePort Liver Transporter

LifePort Liver Transporter is modelled upon the clinically proven technology platform of LifePort Kidney Transporter and the Company's early HMP prototype successfully used in clinical transplant studies by surgeons at New York-Presbyterian Hospital/Columbia University Medical Center. LifePort Liver Transporter and the Company's proprietary machine preservation solution, Vasosol(R), are in the process of US and European regulatory registrations. The system is designed to help improve outcomes in liver transplantation by enabling the clinical use of hypothermic machine preservation, and has been developed in consultation with clinical and research teams specializing in liver transplantation at Columbia University Medical Center and the University of Chicago. The system employs a rugged, streamlined ergonomic design for ease of use and transportability from donor bedside to recipient operating room. For more information please visit: http://www.organ-recovery.com/pipeline.php

This information is provided by RNS

The company news service from the London Stock Exchange

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December 08, 2015 02:00 ET (07:00 GMT)