Lifeline Biotechnologies, Inc. (Lifeline), a medical technology company, announced that it has acquired the MastaScope and OvaScope technology and products from Solos Endoscopy. The company had previously sold these technologies to Solos Endoscopy in February 2007 with the intention of Solos developing the market and revenues for the products. However, Solos Endoscopy’ resources have been focused on marketing and sales of their core endoscopic products.
The MastaScope has been developed and designed to assist in detection of breast cancer. The company will now evaluate the competition and market for this product, as well as its potential of being a complementary product to Lifeline’s First Warning early breast cancer detection system.
The OvaScope has been developed and designed to assist in the early detection of ovarian cancer. The preliminary testing that has been conducted on the OvaScope to date has been very promising. This data and the market are currently being reviewed and the results of this review will determine the direction the company will take regarding the OvaScope™.
Jim Holmes, chief executive officer of Lifeline, stated, “While we were hopeful that our sale of these products to Solos was to be the beginning of a very beneficial synergistic relationship, we are excited to have MastaScope™ and OvaScope™ back in our growing portfolio of medical products. We will continue to push these products forward, along with our First Warning early breast cancer detection product. It is our belief that a diversified portfolio of products will position us to not only capitalize on various areas in the medical field, but to give Lifeline numerous opportunities to build shareholder value for our stockholders.”