TIDMLSIC

RNS Number : 5926Z

Lifeline Scientific, Inc

21 September 2015

Lifeline Scientific, Inc.

("Lifeline" or the "Company")

Strategic review

Lifeline set to explore strategic and financial alternatives aimed to increase shareholder value

Lifeline Scientific (AIM: LSIC), the transplantation technology company, announces that its Board of Directors has determined to explore a full range of strategic and financial alternatives to enhance shareholder value, and the Company has retained Piper Jaffray to assist in the process.

The Board believes that the Company is at an inflection point in its growth, and that opportunities represented by its existing business combined with China's Food and Drug Administration (CFDA) approvals of LifePort Kidney Transporter and related single-use consumables and solutions, recent progress in Brazil and the prospects of LifePort Liver Transporter, are not reflected in the Company's current market value. Consequently the Board plans to explore a range of options, which could include (though will not be limited to), a strategic merger, strategic acquisitions, a potential sale of the Company, and a potential listing of the Company's shares on the NASDAQ market.

Commenting David Kravitz, CEO of Lifeline Scientific, said:

"Our board is focused on maximising shareholder value in this time of significant opportunity within the global transplant market. Accordingly, we will thoroughly explore the full range of strategic and financial alternatives available to capitalise on our market-leading platform of LifePort based organ recovery and preservation products, and our premium global brand. All options will be thoroughly reviewed and we will take the time we require to evaluate our opportunities, and achieve the best results for our shareholders, business partners and associates."

The Board is at the beginning stage of its strategic and financial review, and no assurance can be given as to its outcome or timing. The Company does not presently intend to make any further public comment regarding the review unless and until the board approves the outcome of the review.

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) Ltd                                  Tel: +44 (0)20 7886 2500 
 Freddy Crossley (Corporate 
  Finance) 
 Maisie Atkinson (Corporate 
  Broking) 
 
 Piper Jaffray Ltd                                        Tel: +44(0) 20 7796 8400 
 Neil Mackison 
 Graeme Smethurst 
 
 Walbrook PR Ltd              Tel: +44 (0) 20 7933 8780 or lifeline@walbrookpr.com 
 Paul McManus                                             Mob: +44 (0)7980 541 893 
 Mike Wort                                                Mob: +44 (0)7900 608 002 
 

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 200 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 announcement is for information purposes only and is not intended to, and does not, constitute or form part of any offer, invitation or the solicitation of an offer to purchase, otherwise acquire, subscribe for, sell or otherwise dispose of, any securities, whether pursuant to this announcement or otherwise. The distribution of this announcement in jurisdictions outside the United Kingdom may be restricted by law and therefore persons into whose possession this announcement comes should inform themselves about, and observe, such restrictions. Any failure to comply with the restrictions may constitute a violation of the securities laws of any such jurisdiction

This information is provided by RNS

The company news service from the London Stock Exchange

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September 21, 2015 02:00 ET (06:00 GMT)

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