LMT Lombard Med.Tec

 

TIDMLMT 
 
RNS Number : 2674M 
Lombard Medical Technologies PLC 
20 May 2010 
 

                        Lombard Medical Technologies PLC 
                        ("Lombard Medical" or "Company") 
 
                              AGM - Trading Update 
 
London, UK, 20 May 2010 - Lombard Medical Technologies PLC (AIM: LMT) the 
medical device company focussed on the $1 billion abdominal aortic aneurysm 
(AAA) repair market, is holding its Annual General Meeting today.  During his 
introduction to the meeting the Company's Chairman, Simon Neathercoat, gave the 
following update on developments since Lombard Medical announced its preliminary 
results on 16 April 2010: 
 
"Lombard Medical continues to make good progress on the strategy outlined at the 
time of the successful fundraising of GBP12.1 million (net of expenses) on 1 
February 2010. 
 
"The Company has recruited and trained three new sales executives in the UK and 
one in Germany since the start of the year.  These additions and the appointment 
of Simon Hubbert, a highly experienced VP Sales and Marketing, International 
from 1 June, place the Company in a strong position to capitalise on the 
excellent clinical results for Aorfix(TM) presented at the Charing Cross 
Symposium in April. 
 
"The benefits of endovascular aortic aneurysm repair are increasingly endorsed 
by the medical community and the market for our device continues to increase in 
size, in line with our expectations. The increased promotion of the benefits of 
using Aorfix(TM), particularly in patients with tortuous anatomies, is already 
bearing fruit in the UK where sales are significantly ahead of last year. 
 
"Recruitment into the pivotal US trial remains on track and the Company expects 
to file the remaining non-clinical PMA modules during 2010, with the filing of 
the final clinical module of the PMA planned for the first half of 2011. 
 
"Lombard Medical has a busy and challenging year ahead to meet its goals but 
with the resources from the February fundraising, a focussed action plan, and 
the drive and determination of a strengthened management team I am confident of 
the Company's future success." 
 
 
                                    - Ends - 
 
About Lombard Medical 
Lombard Medical Technologies PLC (AIM: LMT), is a medical device company focused 
on device solutions for the $1 billion dollar abdominal aortic aneurysm (AAA) 
repair market. AAA's 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 AAA's 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, with a pivotal clinical trial ongoing in the USA. 
 
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. 
 
 
For further information: 
 
+---------------------------------------+------------------------+ 
| Lombard Medical Technologies PLC      |                        | 
+---------------------------------------+------------------------+ 
| John Rush, Chief Executive Officer    |     Tel: 01235 750 800 | 
| Tim Hall, Finance Director            |                        | 
+---------------------------------------+------------------------+ 
|                                       |                        | 
+---------------------------------------+------------------------+ 
| Evolution Securities Limited          |                        | 
+---------------------------------------+------------------------+ 
| Barry Saint                           |    Tel : 020 7071 4300 | 
+---------------------------------------+------------------------+ 
|                                       |                        | 
+---------------------------------------+------------------------+ 
| Financial Dynamics                    |                        | 
+---------------------------------------+------------------------+ 
| Jonathan Birt                         |    Tel : 020 7831 3113 | 
+---------------------------------------+------------------------+ 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
 AGMSEISUSFSSEII 
 

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