Lombard Medical Technologies PLC
10 May 2012
Lombard Medical Technologies PLC
("Lombard Medical" or "the Company")
Strategic Partnership to Bolster Manufacturing and Capacity Plan
London, UK, 10 May 2012 - Lombard Medical Technologies PLC (AIM: LMT), the specialist medical technology company focussed on innovative vascular products, is pleased to announce a strategic partnership with Machine Solutions Inc. (MSI), a global supplier of process and testing solutions to the medical device industry. This partnership forms part of the Company's wider plan to improve manufacturing efficiencies for their Aorfix(TM) stent graft and delivery system, a uniquely differentiated device for the treatment of abdominal aortic aneurysms (AAAs).
In 2011 Lombard Medical completed a strategic manufacturing and capacity plan to allow the Company to continue to meet the growing demand for Aorfix(TM) in Europe and the rest of the world, as well as to support the anticipated commercial launch of Aorfix(TM) in the US and Japan. The plan has a number of goals and is expected to result in:
-- Increased operational efficiencies including certain practical enhancements to the loading process of the stent graft into the delivery system based, in part, on MSI's' technology and know-how
-- Increased capacity for device manufacture, plans are underway to provide additional clean room capacity in mid-2013
-- Improvements in manufacturing yields for the device
Lombard Medical continues to anticipate FDA approval of Aorfix(TM) during Q4 2012 and is confident that the initiatives outlined above will positively impact the Company's US pre-launch activities for this important market.
Simon Hubbert, CEO of Lombard Medical Technologies, commented:
"As we approach the final stages of the regulatory process for Aorfix(TM) in the US and demand for the device elsewhere continues to grow, we are taking steps to ensure that we have appropriate manufacturing capabilities and capacity in place. Thus we are pleased to announce this partnership with MSI who are the recognized industry leaders in providing process solutions to catheter and stent graft manufacturers."
- Ends -
For further information:
Lombard Medical Technologies PLC Tel: 01235 750 800
Simon Hubbert, Chief Executive Officer
Ian Ardill, Chief Financial Officer
Canaccord Genuity Limited Tel : 020 7523 8000
Jamie Adams / Mark Dickenson / Lucy
FTI Consulting Tel : 020 7831 3113
Jonathan Birt / Simon Conway / Susan
About Lombard Medical
Lombard Medical Technologies PLC (AIM: LMT), is a medical device company focused on device solutions for the $1.2 billion dollar per annum abdominal aortic aneurysm (AAA) repair market. AAAs are a balloon-like enlargement of the aorta which, if left untreated, may rupture and cause death. Approximately 4.5 million people are living with AAAs in the developed world and each year 600,000 new cases are diagnosed. The market for endovascular stent grafts for this application is expected to grow to $1.6 billion by 2015. The Company's lead product, Aorfix(TM), is an endovascular stent graft which has been specifically designed to solve the problems that exist in treating complex tortuous anatomy which is often present in advanced AAA disease. Aorfix(TM) is currently being commercialised in the EU, and has been submitted to the FDA for approval in the US.
The Company is headquartered in Oxfordshire, with operations in Ayrshire and Phoenix, USA.
Further background on the Company can be found at www.lombardmedical.com.
About Machine Solutions Inc
Machine Solutions Inc. (MSI) was founded in 1999 with the mission of providing innovative and effective proprietary mechanical solutions to a variety of complex process, testing and device design Challenges.
MSI is a privately held organization headquartered in Flagstaff, Arizona USA. The company has satellite sales U.S. offices located in the San Francisco, CA and Minneapolis, MN and an office in Munich, Germany to serve customers in the EU, Middle East and Africa.
MSI is the leading process and testing equipment supplier to catheter and stent manufacturers worldwide. The proprietary MSI segmental compression mechanism provides an even, repeatable radial compression that has been proven for stent crimping, stent loading, catheter balloon folding, and marker band swaging applications. MSI offers the most advanced, automated and integrated solutions to the medical device manufacturing industry.
For more information, visit www.machinesolutions.com.
This information is provided by RNS
The company news service from the London Stock Exchange