5th Jul 2007 07:00
Lombard Medical Technologies PLC05 July 2007 Lombard Medical Enters into Collaboration with Smith & Nephew to Develop Bioresorbable Drug-eluting Coronary Stents London, UK, 5 July 2007 - Lombard Medical Technologies PLC ("Lombard Medical")announces today that it has entered into a research collaboration with Smith &Nephew Plc ("Smith & Nephew") to develop Smith & Nephew's proprietarybioresorbable polymers for next generation drug-eluting coronary stents. The collaboration between Lombard Medical and Smith & Nephew starts a two yearproject to develop a bioresorbable drug-eluting coating for coronary stents.Since 1994, Smith & Nephew has been developing a range of leading edge highstrength bioresorbable polymers for orthopaedic applications. The technologyalso allows drug release and polymer degradation rates to be independentlycontrolled. By combining with Lombard Medical's surface treatment and attachmenttechnologies, new properties and jointly owned intellectual property will begenerated. Early feasibility work has already demonstrated the advantages of bringingtogether the technologies from both companies, which Lombard Medical believescould create a competitive advantage over other bioresorbable polymers that arecurrently in development. Stents are tiny mesh tubes that are used in the treatment of cardiovasculardisease to support the artery wall and keep the vessel open after arteryclearing procedures such as angioplasty. However, in up to 50% of stentingcases, the patient suffers an inflammatory thickening of the artery, calledrestenosis. In order to prevent restenosis, drug-eluting stents have beendeveloped, which are stents coated in cellular growth inhibiting drugs thatelute into the surrounding artery and prevent the restenotic thickening of thevessel wall. Despite the clinical success of drug-eluting stents, recent data has suggestedthat they result in higher rates of late stage thrombosis when compared tostents without drug (bare metal stents). Thrombosis is clot formation within thestent, which, in over 50% of cases, results in either an acute heart attack ordeath. Many physicians believe that the clot formation is due to the delayedhealing of the vessel caused by the cytotoxic drugs that coat the stent or bylocal reaction to polymers used to deliver the drug. As a result there is agrowing need for next generation drug-eluting stents which use bioresorbablepolymers to ensure both the drug and polymer completely disappear, therebyallowing complete healing to take place. Coronary artery disease causes approximately 6.9 million deaths worldwide eachyear and the market for drug-eluting coronary stents is currently valued around$6 billion. Alistair Taylor, Executive Chairman of Lombard Medical said: "We are delighted to be working on a joint development with Smith & Nephew whoseexpertise in bioresorbable polymers is second to none. Our in-depth knowledge ofcoating coronary stents makes this an ideal partnership. This joint developmentis committed to promote rapid healing and improve patient safety after stentimplantation. We expect to license these new technologies to coronary stentcompanies." Enquiries:Lombard Medical Technologies PLC Tel: 01235 750 800Alistair Taylor, Executive ChairmanBrian Howlett, Chief Executive OfficerTim Hall, Finance Director Financial Dynamics Tel: 020 7831 3113David Yates/John Gilbert Notes to editors About Lombard Medical Lombard Medical Technologies PLC is a medical devices group developing stentgrafts and other medical products for use in the treatment of vascular disease.The Company's lead product, Aorfix(TM), is a stent graft for the treatment ofaortic aneurysms, a balloon-like enlargement of the aorta which, if untreated,may rupture and cause death. Abdominal and thoracic aortic aneurysms are the13th largest cause of death in the US and the market is estimated to be worthapproximately US$2 billion by 2010. Aorfix(TM)is currently being commercialisedin the EU, with US clinical trials having commenced during 2006. The Company'sPolymer Coatings Division primarily develops polymer coatings for use indrug-eluting stents and has a number of research collaborations developing novelproducts for this $6bn market. The Company, headquartered in Oxfordshire, with operations in Yorkshire andBoston, USA, employs over 90 people. 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 ExchangeRelated Shares:
Smith & Nephew