In 2008, LIFELINE BIOTECH (OTCMKTS:LLBO) solely licensed its First Warning Systems to First Warning Systems, Inc., through a revenue fee license of its patented pattern recognition technology. Some of the most recognized engineers conducted three rounds of evidence of concept trials.
The asset
Lifeline did a meaningful investment in Cyrcadia Inc. which is resulting in added value as later company prepares to initiate the final clinical studies. The trials will be performed at the Ohio State University Oncology Hospital in Columbus, OH and El Camino Hospital in Mountain View. The studies have been approved by the IRB and of El Camino Hospital and are undergoing the review process at Ohio State University.
The trials
The study at El Camino Hospital is scheduled for start before the start of May 2015. The studies are expected to finish in four to six months. After trials, Cyrcadia will acquire CE Marking permitting for marketing and sales outside of the US. Also, it will be submit a 510(k) to the U.S. FDA. Once it gets clearance, it will start with marketing initiatives in the USA. It will aim for international sales in 4Q2015 and US sales in 1Q2016 or 2Q2016.
The participants
Lifeline said that Dr. Farrar will be the primary investigator for the studies carried out at OSU. He was the same person that guided the original “proof of concept” trial conducted at OSU. He commented on the potential of lifesaving technology that could help in the early discovery of breast cancers and breast tissue abnormalities.
Other developments
LIFELINE BIOTECH (OTCMKTS:LLBO) updated its website to include a current “News” and developments page. The company stopped reporting its financial results and now its profile at OTC platform carries warning of a dreaded Stop sign. The financial performance of Lifeline is dismal and stock prices are plunged to the triple-zero levels.
