Solos Endoscopy to Acquire Early Cancer Detection Products From Lifeline Biotechnologies for $4 Million Thursday June 15, 8:30 am ET
RENO, NV--(MARKET WIRE)--Jun 15, 2006 -- Lifeline Biotechnologies, Inc. (Other OTC:LBTN.PK - News) today announced Company has entered into an agreement to sell their early cancer detection product line to Solos Endoscopy, Inc. (Other OTC:SLSE.PK - News) for $4 Million in restricted shares of Solos Endoscopy. Solos Endoscopy will obtain medical assets from Lifeline Biotechnologies, which will include the MastaScope(TM), First Warning System(TM), OvaScope(TM), and the intellectual properties of those products. Lifeline Biotechnologies will also receive compensation, in the form of a royalty, once sales of the MastaScope(TM), First Warning System(TM), and OvaScope(TM) exceed $4 Million. ADVERTISEMENT
Lifeline Biotechnologies intends to issue a dividend to its investors, for their interest in the products. This will enable Lifeline's investors to benefit from the completion of the testing phases, and being successfully brought to market. Lifeline Biotechnologies, Inc. recently announced that the company is actively pursuing acquisition and merger candidates in the Medical, Nutraceutical, and Energy Industries to continue steady growth of the Company.
"We have complete faith in Solos Endoscopy's ability to bring these products to market because of their proven track record and over 20 years in the marketing of medical instrumentation. Our shareholders will not only benefit from Lifeline Biotechnologies' new strategy as a holding company, but since we expect to dividend shares of Solos Endoscopy to our shareholders, they will also be able participate in the future success of our products," stated Jim Holmes, President of Lifeline Biotechnologies.
"This is a wonderful opportunity for Solos Endoscopy and we are very excited to obtain the potentially ground-breaking medical products of Lifeline Biotechnologies. We are confident that these products will have a major impact in the medical market and will reward us and our shareholders in many ways," stated Robert Segersten, President of Solos Endoscopy, Inc.
About Lifeline Biotechnologies, Inc.: Lifeline Biotechnologies, Inc. is a company with innovative medical technologies committed to the improvement of the quality of life through exceptional health care systems. These technologies focus on prevention, early detection, diagnosis and quick recovery of a number of disease conditions. The company's Cancer Detection technologies deal with cutting edge innovation to assist practicing physicians in the delivery of quality medical care. The MastaScope(TM) is used to assist in the early detection of cancer and other abnormalities of the breast. The MastaScope(TM) has completed development and has entered the marketplace internationally. The First Warning System(TM) for assisting in the early detection of breast cancer and the OvaScope(TM) for assisting in the early detection of ovarian cancer are continuing to be developed by the company. More information is available at the company's website: www.lbtn.com.
About Solos Endoscopy, Inc.: Solos Endoscopy, Inc. is a healthcare technology company whose mission is to develop and market breakthrough technology, applications, medical devices, and procedural techniques for the screening, diagnosis, treatment and management of disease and medical conditions. Backed by technical support, Solos' sales team can help make the right buying decisions for the hospital, surgery center, or physician office. Additional information is available on the Company's website at: www.solosendoscopy.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, ability to obtain financing and regulatory and shareholder approval for anticipated actions.
-------------------- Thanks Matto. Thanks Juice. Posts: 2945 | From: USA | Registered: Feb 2006
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