Lombard Medical Technologies PLC Satisfaction of FDA Milestone Requirements (8614Z)

TIDMLMT

RNS Number : 8614Z

Lombard Medical Technologies PLC

13 March 2013

Press Information

Lombard Medical Technologies PLC

("Lombard Medical" or "the Company")

Satisfaction of FDA Milestone Requirements

for the Second Tranche of the May 2011 Fundraising

London, UK, 13 March 2013 - Lombard Medical Technologies PLC (AIM: LMT), the specialist medical technology company focused on innovative vascular products, announces the determination of satisfaction of the FDA Milestone requirements for the Second Tranche of the two tranche placing and subscription announced by the Company on 20 April 2011 (the "May 2011 Fundraising").

This determination is the trigger for the transfer of the GBP14.1m Second Tranche subscription monies and the application for admission of shares on the London Stock Exchange both of which are anticipated by the middle of April 2013.

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 approved by the FDA 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.

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 
  Lucy Tilley/ Henry Fitzgerald O'Connor 
  / Tim Redfern 
 FTI Consulting                            Tel: 020 7831 3113 
  Simon Conway / Susan Stuart / Victoria 
  Foster Mitchell

This information is provided by RNS

The company news service from the London Stock Exchange

END

MSCNKBDDNBKBNND

Lombard Medical Technologies (LSE:LMT)
Historical Stock Chart
From Jul 2024 to Jul 2024