Health & Fitness
Health and Fitness
Health and Fitness
Thu, January 22, 2009
Wed, January 21, 2009 Lifeline Biotechnologies, Inc. Announces Corporate Actions to Secure Financing for the Commencement of Commercialization Strate
RENO, Nev.--([ BUSINESS WIRE ])--Lifeline Biotechnologies, Inc. (Pink Sheets: [ LLBO ]) today announced that the Company, through its wholly owned subsidiary First Warning Systems, Inc., is reviewing all available options to secure funding. This strategy will be structured to enable the successful completion of development of its revolutionary First Warning System™, and the highly anticipated launch of its commercialization phase.
Lifeline Biotechnologies, Inc. is focused on obtaining a 510(k) from the FDA, and completing hardware upgrades for new technologies in anticipation of market introduction this year. Of the approximately $138 billion spent on cancer each year, Lifeline's cutting-edge detection device will boast the potential to save the healthcare industry billions of dollars annually.
"We are very pleased to be approaching the finish line on our revolutionary breakthrough in cancer detection. We've labored intensively over the past few years, realizing our vision to bring this technology to market, and with that goal in sight we anticipate this will be the year that commercialization will crown the investment of our years of research and development," stated Jim Holmes, CEO of Lifeline Biotechnologies.
Lifeline Biotechnologies has in the past year filed for a patent on the recent technological advancements of the First Warning System™, which has achieved the robust capability of identifying and classifying abnormalities of the breast with sensitivities of 95% to 100% and specificities of 87% to 90%.
Safe Harbor: This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 27E of the Securities Act of 1934. Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain. Actual performance and results may differ materially from that projected or suggested herein due to certain risks and uncertainties including, without limitation, ability to obtain financing, successful development of the Company's product and regulatory and shareholder approval for anticipated actions.
