BOSTON, MA--(MARKET WIRE)--Aug 2, 2006 -- Solos Endoscopy, Inc. and Lifeline Biotechnologies, Inc. (Other OTC:LBTN.PK - News) today announced the Company has acquired the Lifeline Biotechnologies’ early cancer detection product line for $4 Million in restricted shares of Solos Endoscopy. Solos Endoscopy has obtained medical assets from Lifeline Biotechnologies, which included the MastaScope(TM), First Warning System(TM), OvaScope(TM), and the intellectual properties relative, to 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. Lifeline Biotechnologies, Inc. has announced existing shareholders will receive a dividend in Solos Endoscopy for their support of Lifeline Biotechnologies in the development of these products.
Now that these new technologies have been acquired, Solos Endoscopy plans to continue the testing and development of these products in an effort to add them to the current line of women’s health care products currently in development at Solos Endoscopy.
“We are happy that we have completed this transaction successfully,” stated Jim Holmes, President of Lifeline Biotechnologies.
“We look forward to adding these products to our growing line of endoscopic devices and feel that they will help enhance our position within the women’s endoscopic healthcare market,” stated Robert Segersten, President of Solos Endoscopy, Inc.
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.
About Lifeline Biotechnologies, Inc.: Lifeline Biotechnologies develops and acquires undervalued companies which have innovative technology in the Medical, Nutraceutical, and Energy Industries, to increase the growth of the Company. Lifeline Biotechnologies continues to seek out and capitalize on emerging technologies that will change the medical community.
More information is available at the Company’s website: www.lbtn.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.
Contact:
Big Apple Consulting USA, Inc. For Lifeline Biotechnologies, Inc. and Solos Endoscopy, Inc. Investor Relations 407-884-0444 1-866-THE-APPL(E)
Source: Lifeline Biotechnologies, Inc.
