Lombard Regains Marketing Rights for EndoRefix

 

TIDMLMT 
 
RNS Number : 7245O 
Lombard Medical Technologies PLC 
12 March 2009 
 

Press information 
 
 
Lombard Medical Technologies PLC 
("Lombard Medical" or "Company") 
 
 
Lombard Medical Regains Marketing Rights for EndoRefix(TM) 
 
 
London, UK, 12 March 2009 - Lombard Medical Technologies PLC (AIM: LMT), the 
specialist medical device company, announces that it has regained the marketing 
rights for its novel endovascular stapling device EndoRefix(TM) after mutually 
agreeing with Medtronic Vascular, Inc. to terminate the Distribution, License 
and Credit Agreements signed in December 2006. 
EndoRefix(TM) is a patented endovascular stapling device that has CE Mark 
approval for the fixation of endovascular stent grafts.  A US clinical trial 
undertaken to gain FDA approval for this indication is two-thirds recruited but 
further recruitment was suspended in December 2008 as part of the Company's 
strategy to reduce costs. The product has the potential to be developed for a 
number of other indications including the fixation of stent grafts for the 
treatment of thoracic aortic aneurysms and the fixation of obesity and other 
devices within the gastrointestinal tract. 
Following termination of the agreements with Medtronic, the Company will now 
seek a new marketing partner to help fund the completion of the product's 
development including completion of the US trial. 
 
 
Brian Howlett, CEO of Lombard Medical, commented: 
"We believe that the EndoRefix(TM) stapler has significant potential for use in 
the fixation of stent grafts and other medical devices and we are pleased to 
regain full control of this product. We look forward to commencing discussions 
with alternative partners who will help us fund the development of this 
versatile product." 
 
 
Enquiries: 
 
 
+------------------------------------------------------+----------------------------+ 
| Lombard Medical Technologies PLC                     |         Tel: [phone] | 
| Simon Neathercoat, Non-executive Chairman            |                            | 
| Brian Howlett, Chief Executive Officer               |                            | 
| Tim Hall, Finance Director                           |                            | 
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|                                                      |                            | 
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| Financial Dynamics                                   |         Tel: [phone] | 
| Jonathan Birt / Susan Quigley                        |                            | 
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|                                                      |                            | 
+------------------------------------------------------+----------------------------+ 
| Nomura Code                                          |         Tel: [phone] | 
| Juliet Thompson / Richard Potts                      |                            | 
+------------------------------------------------------+----------------------------+ 
 
 
Notes to editors 
About Lombard Medical 
Lombard Medical Technologies PLC is a medical devices group developing stent 
grafts and other medical products for use in the treatment of vascular disease. 
The Company's lead product, Aorfix(TM), is an endovascular stent graft for the 
treatment of abdominal aortic aneurysms (AAAs), a balloon-like enlargement of 
the aorta which, if untreated, may rupture and cause death. Approximately 1.7 
million people have AAAs in the US where it is the 13th largest cause of death. 
The market for endovascular stent grafts for the treatment of AAA is currently 
worth over $600 million and is expected to grow to around a $1 billion by 2010. 
Aorfix(TM) is currently being commercialised in the EU, with a pivotal clinical 
trial ongoing in the USA. 
The Company's Polymer Coatings Division has developed a novel hydrophilic 
surface treatment to reduce friction on catheters called GlideMax(TM), which is 
available for licensing, and is using its polymer coating technology in a number 
of research collaborations developing novel products for the $5 billion 
drug-eluting stent market. 
The Company is headquartered in Oxfordshire, with operations in Yorkshire, 
Ayrshire and Boston, USA. 
Further background on the Company can be found at www.lombardmedical.com. 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
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