SOURCE: Lifeline Biotechnologies

March 12, 2015 13:16 ET

Lifeline Biotechnologies (LLBO) Q1 2015 Update

RENO, NV--(Marketwired - Mar 12, 2015) -  The Company (OTC PINK: LLBO) (PINKSHEETS: LLBO) updates the meaningful activities for First Quarter of 2015:

In 2008 Lifeline Biotechnologies exclusively licensed its First Warning Systems technology to First Warning Systems, Inc., (now called Cyrcadia Health) via a revenue royalty license of its patented, circadian rhythm based, pattern recognition technology. Three rounds of proof of concept trials were conducted and validated by the foremost pattern recognition engineers in the world (the Engineers at Nanyang Technological University in Singapore).

LLBO's primary asset is its investment in Cyrcadia Inc. (Cyrcadia). That investment is achieving meaningful added value as Cyrcadia prepares to enter the final clinical trials that will be conducted at El Camino Hospital (ECH) in Mountain View, CA and the Ohio State University (OSU) Oncology Hospital in Columbus, OH. The trials have been approved through Investigational Review Boards (IRB's) of ECH and are currently undergoing the review process at OSU. The ECH trial is slated for start before the end of April 2015. The trials are expected to be completed in four to 6 months. On completion Cyrcadia will obtain CE Marking allowing for sales and marketing outside of the USA. On completion of the trials Cyrcadia will be submitting a 510(k) to the FDA. Post clearance, marketing will begin in the USA. International sales are expected in Q4 of 2015 and US sales in Q1 or Q2 of 2016.

It is interesting to note that Dr. Farrar at OSU will be the primary investigator for the trials conducted at OSU. Dr. Farrar headed the original "proof of concept" study that was conducted at OSU. Dr. Farrar published on the results of this study, commenting on the potential of this lifesaving technology that could assist in the early detection of breast tissue abnormalities and breast cancers. A copy of Dr. Farrar's abstract will be posted on the Lifeline website in the next few days.

Other developments:

  • Stanford University Canary Center for Early Cancer Detection has pledged $187,000 to help fund the equipment for the trials at El Camino Hospital.
  • Detected, a documentary movie about the journey to market of the iTBra™ was commissioned and paid for by Cisco Systems and will premiere at the SxSW Technology and Film Festival in Austin Texas next week, 3/16. (See "News" Section of www.lbti.com)
  • ABC News 7 in San Francisco aired piece on the announcement of clinical trials that are starting in the Bay Area. They also interviewed Rob Royea (Cyrcadia's President) for a feature story on Good Morning America expected to air in the next coming months. (See "News" Section of www.lbti.com)

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

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