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Lifeline Scientific (LSI)

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Monday 04 January, 2010

Lifeline Scientific

Trading Statement

RNS Number : 9267E
Lifeline Scientific, Inc
04 January 2010
 



4 January 2010 


Lifeline Scientific, Inc

("Lifeline" or "the Company")


Trading Update 


Full year results to exceed market expectations


Lifeline Scientific, the medical technology company, focused on commercialising its LifePort® Kidney Transporter, an advanced organ preservation and transport system designed to address the global challenge of human donor organ shortages, issues the following trading update for the year ended 31 December 2009. 


As indicated at the time of the interim results in September, trading in the second half of the year has been strong and continues to exceed management expectations. As a result it is expected that revenues for the year will be ahead of broker's consensus forecasts, with a stronger performance also at the EBITDA and PBT level showing full year profitability.


This strong performance is principally driven by the higher than expected volume of LifePort usage driven by the growing body of strong scientific evidence in support of LifePort versus the conventional box of ice method of kidney organ preservation, and related disposable sales. During the year a landmark study published in the New England Journal of Medicine demonstrated the benefit of LifePort versus current practice. The positive results from the landmark Machine Preservation Trial were also presented at the American Transplant Congress demonstrating, among other benefits, the long-term cost effectiveness of LifePorting donor kidneys. Furthermore, several scientific papers were presented by independent researchers at the European Society of Transplantation in late August demonstrating further benefits of LifePort for kidney preservation.


The Company expects to announce full year results in April.


Enquiries

Lifeline Scientific, Inc.

+ 1 847 294 0300

David Kravitz, CEO


Seymour Pierce (Nomad)

+44 (0)20 7107 8000

Mark Percy / Huaizheng Peng / Sarah Jacobs


Financial Dynamics

+44 (0)20 7831 3113

Ben Brewerton / John Dineen

 

 

About the LifePort Kidney Transporter

Created with the challenges of organ recovery and transport in mind, LifePort Kidney Transporter is designed to provide improved kidney preservation, evaluation and transport prior to transplantation. LifePort provides a sealed, sterile, protected environment where a solution is gently pumped through the kidney at cold temperatures to minimize 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, the LifePort records data on temperature, flow rate vascular resistance and pressure every 10 seconds providing surgeons with additional data prior to transplant.     


About Lifeline Scientific Inc.  

Lifeline Scientific, Inc. is a Chicago-based global medical technology company with European headquarters located in Brussels. Its primary focus is to commercialise its FDA approved, CE marked, clinically validated and revenue generating LifePort Kidney Transporter. Devices for preservation of the heart, lung pancreas and liver are in late stage pre-clinical development. 




This information is provided by RNS
The company news service from the London Stock Exchange
 
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