Lifeline Scientific, which nourishes and transports kidneys for transplant, finally plans to launch on AIM on Monday.

Based in Chicago and domiciled in Delaware, the company boasts as its patented chief product the 'LifePort Kidney Transporter', which pumps nutrition into kidneys en route to be transplanted and is claimed to be significantly more effective in preserving them than traditional ice-filled containers. With existing backers including HBM Bio Ventures, RAB Capital and the Entrepreneurs Fund, Lifeline, whose broker and nominated adviser is Seymour Pierce, is seeking £5.4 million at 150p, to value the company at £23.6 million.

This follows an abortive attempt to raise up to £7 million in September, a setback that Seymour blames on the fact that key clinical data showing the relative efficacy of the LifePort transporter was not published until the following month. Lifeline, whose chief executive officer is sector specialist David Kravitz, argues this device can help rectify the present perennial imbalance between the large number of willing kidney donors and the many fewer recipients of successfully transplanted organs.

The company received clearance for the device from the US Food & Drugs Administration in 2004 and says it has now nearly completed a 'successful pilot market introduction' of 250 devices in North America and Europe, treating nearly 10,000 kidneys. Lifeline lost £6.6 million in the 15 months to December 2006 on £3.4 million revenue, but the broker anticipates breakeven this year.

It could have specialist appeal.

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