Lifeline Biotechnologies, Inc. (OTCPK:LLBT) announced today that Management continues their search for industry related prospects for a prospective strategic alliance
“We’re seeking to develop a strategic alliance with opportunities that are related to early breast cancer detection. We have focused on companies that have products similar and complementary to Lifeline’s First Warning System. The concentration is with opportunities that are revenue or near revenue producing. We have had discussions with several of such prospects. There is no assurance that any conclusion or relationships will develop, but there is encouragement,” said Jim Holmes, Lifeline’s CEO.
Meanwhile, Lifeline is focused on completing the development of the First Warning System™, designed to assist in the early detection of breast cancer. The underlying technology, upon which the First Warning System™ is based, holds the possibility of eliminating over 90% of unnecessary breast biopsies performed each year providing a potential savings of up to $2.8 billion annually. The First Warning System™ could conceivably eliminate the need for suggested MRIs, a savings of another $1.3 billion.
Lifeline Biotechnologies is in the process of securing FDA clearance, via a 510(k) for its First Warning System, and will continue to update its shareholders regarding its progress on a regular basis. To find out more information about Lifeline Biotechnologies, Inc., please visit: www.lbti.com.
About Lifeline Biotechnologies, Inc:
Lifeline Biotechnologies, Inc. is an innovative medical technology company that is focused on completing the development of the First Warning System™, which was designed to assist in the early detection of breast cancer. Of the approximately $138 billion spent on cancer each year, Lifeline could potentially save the healthcare industry up to $4.1 billion annually, assuming the following are successfully completed: the development of the First Warning System™, the completion of clinical trials and FDA pre-marketing clearance. Lifeline competes in the money markets for funds to support the development of its product. The cost of funds, for early stage companies like Lifeline, are expensive and the terms have been, and may continue to be, dilutive.
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 and regulatory and shareholder approval for anticipated actions.