3rd Sep 2015 08:23
LONDON (Alliance News) - Transplant technology company Lifeline Scientific PLC on Thursday said it has secured regulatory approval for its lead product in China and said its first half revenue has increased in the first half.
Lifeline said the Chinese Food and Drug Administration has formally approved its lead product, the LifePort Kidney Transporter, and all related single-use consumables for sale to clinical transplant hospitals in China.
The company said it will now be working closely with its distribution partner in China to prepare for the commercial launch of the LifePort product, which it expects to happen in the fourth quarter.
In addition, Lifeline said its revenue in the six months to the end of June was up to USD15.0 million from USD14.8 million a year before, with sales of its higher-margin consumables flat at USD8.5 million.
The group expects the roll-out of its products and the contract wins secured in the first half to continue into the second and is confident it will meet market forecasts for the full year.
It will publish its interim results for the half to the end of June on September 21.
Shares in Lifeline were up 1.1% to 199.20 pence on Thursday morning.
By Sam Unsted; [email protected]; @SamUAtAlliance
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