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Life Medical Technologies, Inc. |
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2070 RT. 52 Bldg. 320A/20A
Hopewell Junction, NY 12533 USA
phone:315-694-0662
fax:845.625.1437
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| Symbol |
private |
| Founded |
2004 |
| Employees |
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| www.lifemt.com
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| Research Sector |
Medical Devices & Tech |
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| Summary Description |
| Diagnostic screening technology for the early detection of breast cancer |
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| Management |
| Carol Fitzgerald, CEO;
Martin Katz, Chief Financial Officer;
Dr. Charles DiComo, Chief Compliance Officer
Kathy Palokoff, VP of Marketing
Jeffrey Horn, VP of Sales
Lynne Green, Executive Director of Community Outreach & Education
Cynthia Braden, VP of Global Management
Samir Mousa,
Chief Chemist; Kathy Palokoff,
VP of Marketing |
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| Keywords |
| breast cancer, cancer, breast abnormalities, diagnostic testing, temperature sensor, adjunct to mammography, patient education, |
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| Description |
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Life Medical Technologies provides life-enhancing, innovative medical products to the public through partnerships with various organizations and institutions in its efforts to fight breast cancer and other life-threatening illnesses. The Company’s initial focus is on the manufacture and sale of BreastCare DTS™, an easy-to-use device produced under patent that has received FDA 501(k) clearance for marketing in the US as an adjunct to mammography and other procedures for the detection of breast disease, including breast cancer. This later-stage medical device company believes that through the use of low-cost medical diagnostic testing and education of the benefits of early detection, people worldwide can take greater control of their health. |
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| Products / Services |
Life Medical's BreastCare DTS is a diagnostic device that enables safe, reliable, low-cost routine monitoring of breast abnormalities. Its intended to be used as an adjunct to established procedures, such as clinical breast examination and mammography for the detection of breast disease.
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| Technology / Differentiation |
| BreastCare DTS(TM) is a differential temperature sensor product that measures temperature fluctuations to determine the presence of tissue abnormalities. The unit consists of a pair of mirror image, non-invasive, lightweight, disposable pads that contain temperature-responsive (blue) sensors. These dots contain a chemical mixture that changes color, from blue to pink, when exposed to sufficient heat, thereby measuring underlying breast tissue heat conduction. A comparison between the mirror-image sensors pads provides temperature differences between the two individual breasts, which indicate breast abnormalities when the temperature difference is significantly great. |
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| Market / Customers |
Life Medical's low-cost medical diagnostic testing for breast cancer symptoms serves as an empowerment tool for physicians and patients to in the fight against breast cancer.
In the US and other developed countries, BreastCare DTS? is the only non-invasive, easy-to-use device that allows all women to safely, painlessly, and affordably screen for breast cancer throughout the year in conjunction with annual or biannual mammography and clinical breast examination.
In developing and more financially challenged countries with significant populations without access to screening and detection methods such as mammography, BreastCare DTS? has the potential to become the core of government-sponsored and other breast cancer screening programs.
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| Strategy |
Breast cancer has become a global epidemic. Life MT will implement sales outside the US with the selection of established strategic distribution partners and government health organizations.
2012 Life MT plans on 75% of sales to be made outside the US. It is anticipated that between a Canadian Distribution partner and a Mexican Distribution partner there will be sales of 600,000 units by the end of the year through their existing distribution network. Distribution agreements are in the process of being negotiated.
2013 & 2014 Life MT plans on 65% of sales to be made outside of the US. There is a high level of interest and the Company has been in communication with potential distribution partners in Brazil, India, MENA Region, Australia, Africa, UK and several European countries. The management team anticipates further due diligence with these distribution partners before making a strategic decision on the most advantageous partners.
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| Funding |
| The Company has previously raised $7 million in private funding.
The Company is currently conducting a Regulation D Offering that is open to accredited investors the Company seeks to raise $2.5 million at $1.25 per share. This round of funding is expected to take the company to the point of generating revenue and profit based on the production and sales projections. $1 million of the round has already been raised. |
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| Status |
| Life Medical Technologies have FDA 510K clearance in the US as well as European Union and Health Canada approval. |
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Biotech & Specialty Pharma
Healthcare Services
Medical Devices & Tech
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