Investment opportunity
Lifeline Scientific Inc is to list on the Alternative Investment Market in London, raising £7 million to commercialise its LifePort system for prolonging the time available from removing a kidney from a donor, to transplanting it in the recipient.
The company says the LifePort system has a number of advantages over the most commonly used method for preserving donor organs. These include improving the organ’s health status, which has been shown to improve transplant outcomes, and prolonging the organ’s useful life outside the body from around 18 hours in ice to 48 hours with LifePort,
The lead product, LifePort Kidney Transporter, a machine-perfusion device for kidneys. is FDA approved and CE marked, clinically validated and revenue-generating. Machine-perfusion has been clinically demonstrated to increase the number of available donor organs. The system is currently in pilot introduction phase with 75 of 300 transplant centres worldwide and has generated revenues of around $9 million.
In collaboration with transplant centres in the US and Europe, other LifePort systems are in late-stage development for the preservation and transport of the heart, lung, liver and pancreas.
The listing proceeds will principally be used to fund the full commercial launch of LifePort Kidney Transporter.
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