Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
SEVERANCE H LEIGH
  2. Issuer Name and Ticker or Trading Symbol
LIFELINE THERAPEUTICS, INC. [LFLT]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__X__ Director _____ 10% Owner
_____ Officer (give title below) _____ Other (specify below)
(Last)
(First)
(Middle)
14282 E. CALEY WAY
3. Date of Earliest Transaction (Month/Day/Year)
02/08/2005
(Street)

AURORA, CO 80016
4. If Amendment, Date Original Filed(Month/Day/Year)
6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)
7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)
6. Date Exercisable and Expiration Date
(Month/Day/Year)
7. Title and Amount of Underlying Securities
(Instr. 3 and 4)
8. Price of Derivative Security
(Instr. 5)
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)
11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Convertible Note $ 0.5 02/08/2005   P   200,858   02/08/2005 04/18/2005 Common Stock 200,858 $ 0.5 200,858 D  
Bridge Note $ 2             02/04/2005 04/18/2005 Common Stock 81,391   81,391 I By Trust (2)
Bridge Note $ 2             02/04/2005 04/18/2005 Common Stock 45,864   45,864 I By Trust (3)
Bridge Note $ 2             02/03/2005 04/18/2005 Common Stock 5,077   5,077 I By Wife
Bridge Note $ 2             02/04/2005 04/18/2005 Common Stock 126,884   126,884 D  
Bridge Note Warrants (1) $ 2             04/18/2005 04/18/2008 Common Stock 81,391   81,391 I By Trust (2)
Bridge Note Warrants (1) $ 2             04/18/2005 04/18/2008 Common Stock 45,864   45,864 I By Trust (3)
Bridge Note Warrants (1) $ 2             04/18/2005 04/18/2008 Common Stock 5,077   5,077 I By Wife
Bridge Note Warrants (1) $ 2             04/18/2005 04/18/2008 Common Stock 126,884   126,884 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
SEVERANCE H LEIGH
14282 E. CALEY WAY
AURORA, CO 80016
  X      

Signatures

 Leigh H. Severance   06/22/2005
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) Issues when priced.
(2) By Profit Sharing Plan and Trust.
(3) By Profit ShBy Pension Plan and Trust.

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

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