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Lifeline Biotechnologies Reports on an Update to the First Warning System's(TM) Advanced Analytical Capabilities
Last update: 11/30/2009 8:30:01 AM
RENO, Nev., Nov 30, 2009 (BUSINESS WIRE) -- Lifeline Biotechnologies, Inc. (Pink Sheets: LLBO) today reported that management has recently returned from Singapore where meetings were conducted with Nanyang Technological University's (NTU) School of Mechanical & Aerospace Engineering to receive the final report on the software development of Lifeline's First Warning System(TM).
Jim Holmes, Lifeline's CEO said, "This final report is the result of a two year contract we've had with NTU and their successful effort to improve the capabilities of our First Warning System(TM) to accurately interpret patient data and classify the physiological condition of a woman's breast. Our system has been designed and developed to assist in the early detection of breast cancer."
Dr. Louis Keith, Lifeline's Vice President and Medical Director said, "The report clearly displayed that the system of obtaining physiological measurements of the dynamic changes in the breasts of women was valid, and that such data could be efficiently and effectively classified into four reproducible classes which then could be transmitted to examining physicians for use as an adjunct to the early detection of breast cancer. Of equal importance, the report showed that the noninvasive First Warning System(TM) was more efficient than mammography without exposure to radiation and compression while providing indications of tissue irregularities at much earlier stages."
Lifeline filed with the FDA in July, 2009 and is anticipating a response. Once the FDA's response is received, the Company will issue a press release, as well as post the response on Lifeline's website.
The Company has received many questions concerning the prospect of a reverse split of the common stock. Though the outstanding common stock is increased from time to time, there are no plans for a reverse split. Lifeline competes in the money markets for funds to continue the development of its products as well as supporting operating and administrative expenses. The cost of funds, for companies such as Lifeline, is expensive and the terms have been and may continue to be dilutive. The Company continues to seek alternative sources of financing in an effort to reduce the dilutive aspects.
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, the ability to obtain financing, successful development of the Company's product or market acceptance of the product and regulatory and shareholder approval for anticipated actions.
SOURCE: Lifeline Biotechnologies, Inc.

Lifeline Biotechnologies, Inc. Jim Holmes, 775-324-1933 [e-mail]

Copyright Business Wire 2009