LMT Lombard Med.Tec

 

TIDMLMT 
 
 
Lombard Medical Technologies PLC 
07 September 2010 
 
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Press information 
 
                        Lombard Medical Technologies PLC 
                        ("Lombard Medical" or "Company") 
 
 
Lombard Medical receives grant from Scottish Enterprise to assist with Prestwick 
                            manufacturing transition 
 
London, UK, 7 September 2010- Lombard Medical Technologies PLC (AIM: LMT), a 
medical device company focussed on solutions for the $1 billion abdominal aortic 
aneurysm repair market, today announces that it has been awarded a Regional 
Selective Assistance (RSA) grant of GBP200,000 by Scottish Enterprise, 
Scotland's main economic development agency. 
 
Lombard Medical recently announced plans to move its production of stent grafts 
to its existing facility at Prestwick from Didcot, England. The move will 
increase capacity at Didcot for the assembly and loading of the delivery device 
for its lead product Aorfix(TM), the only endovascular stent graft licensed in 
Europe to treat abdominal aortic aneurysms with neck angulations up to and 
including 90 degrees. This move will ensure the most efficient use of Lombard 
Medical's facilities and over time will reduce costs and increase capacity as 
the Company rolls out the product in Europe and prepares for launch in the 
important US market, where it is currently undergoing regulatory review. 
 
Lombard Medical has been operating in Prestwick since 2007. It currently employs 
seven people manufacturing fabric stent grafts and a range of implantable female 
incontinence meshes and will be seeking to recruit an additional 39 staff as it 
scales up manufacture of Aorfix(TM) stent grafts over the next few years. 
 
The award is payable in four instalments, each of which is dependent upon the 
Company achieving specific milestones in its plans for Prestwick.  It is 
anticipated that the majority of the award will be received during 2011 and 
2012. 
 
Commenting on the RSA grant, Lombard Medical Chief Executive John Rush said: 
"We are grateful to Scottish Enterprise for recognising the importance of 
Lombard Medical's Aorfix(TM) technology in the treatment of life-threatening 
abdominal aortic aneurysms. The grant will allow us to focus important elements 
of our worldwide production in Scotland, and to benefit from the existing talent 
pool, advantageous cost base and the ability to scale up production to meet 
growing international demand. As we increase our marketing investment in the 
largest European countries and work towards completing the regulatory approval 
process in the US, the strategic reorganisation of our operations in Prestwick 
and Didcot will ensure the most effective use of our facilities." 
 
Scotland's First Minister Alex Salmond said: 
"This investment shows Scotland has a quality manufacturing base and is 
testament to the talent, skills and experience of the Ayrshire workforce. I am 
delighted that companies such as Lombard Medical are continuing to show support 
for staff and continued services in Ayrshire." 
 
                                    - 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 nearing completion 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 / Susan Quigley         |    Tel : 020 7831 3113 | 
+---------------------------------------+------------------------+ 
 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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