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New contract wins

14th Jul 2015 07:00

RNS Number : 9167S
Lifeline Scientific, Inc
14 July 2015
 

 

Lifeline Scientific, Inc.

("Lifeline" or the "Company")

 

 New contract wins

 

Lifeline Scientific (AIM: LSIC), the transplantation technology company, announces a key account win in North America and further adoption in Europe and the Middle East, which combined are expected to contribute in excess of US$1.2m in annualised revenues.

 

US key account win

Lifeline has received a significant order for LifePort Kidney Transporters, related consumables and preservation solutions from the Birmingham, Alabama based regional transplant programme supporting the state of Alabama and portions of Georgia. This programme recovers up to 250 donor kidneys for transplant annually and it is expected that LifePort will be employed in most of these procedures. Total revenue from the region is anticipated to exceed US$0.8m during the next 12 months. 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.

 

Further adoption of LifePort in strategic Europe and Middle East

As previously announced, Lifeline won a competitive tender to supply LifePort Kidney Transporters to France's national transplant service, Agence de la Biomédecine, in November 2013, establishing LifePort as the standard of care for machine preservation in France. Being one of Europe's top three largest national markets for kidney transplant procedures, France is a key territory where more than 100 LifePort Kidney Transporters are now installed nationwide. Lifeline announces that it recently received new orders to supply LifePort Kidney Transporters and related consumables to additional renal transplant programmes in Paris, Nancy, Metz, and Montpellier, taking the number of LifePort exclusive sites to 32 of the 34 transplant programmes in France. As well, the transplant programme of the French Territory of Guadeloupe recently acquired four LifePorts in support of efforts to improve donor organ recovery practices including optimising preservation of donor kidneys during long transatlantic flights.

 

Following France's successful nationwide adoption of LifePort, Switzerland's Bern based national transplant agency, Swisstransplant, has notified the Company that they have recently adopted a national programme for machine preservation of donor kidneys and have placed initial orders for LifePort Kidney Transporters and related consumables to fulfil this programme mandate. Switzerland's six transplant centres have been equipped with two LifePorts each, and combined, the Company expects these centres to perform up to an estimated 120 renal transplant procedures using LifePort.

 

In addition to the growth in France and Switzerland, new transplant centre accounts were opened respectively in Barcelona, Spain, Innsbruck, Austria, and Riyadh, Saudi Arabia. Combined with the new major North American account win, the Company estimates annualised revenue from all of the above described mandates to exceed US$1.2m.

 

Commenting David Kravitz, CEO of Lifeline Scientific, said: "Further adoption and use of LifePort within our home US market is anticipated and we are grateful for the opportunity to serve Alabama which is one of America's premier transplant programmes. We are also seeing wider adoption of LifePort in key centres of Europe and the Middle East, and these latest orders are further evidence of this progress. As LifePort's clinical benefits become better understood within the worldwide transplant community, we are encouraged that continued growth in LifePort's adoption as the standard of care for machine preservation of donor kidneys can be realised."

 

 

 

For further information:

 

Lifeline Scientific, Inc.

www.lifeline-scientific.com

David Kravitz, CEO

Tel: +1 847 294 0300

Lisa Kieres, CFO

Tel: +1 847 294 0300

 

 

Panmure Gordon (UK) Limited

Tel: +44 (0)20 7886 2500

Freddy Crossley (Corporate Finance)

 

Maisie Atkinson (Corporate Broking)

 

 

 

Walbrook PR Limited

Tel: +44 (0) 20 7933 8780 or [email protected]

Paul McManus

Mob: +44 (0)7980 541 893

Mike Wort

Mob: +44 (0)7900 608 002

 

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, 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 193 leading transplant programmes in 28 countries, LifePorts have successfully preserved more than 50,000 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®, 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 perfusion, and has been developed in consultation with clinical and research teams specialising 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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