Lombard Medical enters into collaboration with Axordia for stem cell derived drug eluting stents
London, UK, 3 August 2006
Lombard Medical Technologies PLC (AIM: LMT) announces today that it has signed a letter of intent to enter into a collaboration with Axordia Ltd, a UK stem cell company spun-out of the University of Sheffield, to develop a new generation of stent technology that combines Axordia’s unique proprietary stem-cells with Lombard’s PEP™ polymer coating on drug eluting stents.
Stents are tiny mesh tubes that are used in the treatment of cardiovascular disease, to support the artery wall and keep the vessel open after artery clearing procedures such as angioplasty. However, in over 50% of stenting cases, the patient suffers an inflammatory thickening of the artery, called restenosis. In order to prevent restenosis, drug eluting stents have been developed, which are stents coated in cellular growth inhibiting drugs that elute into the surrounding artery and prevent the thickening of the vessel wall.
Despite the clinical success of drug eluting stents, recent evidence has suggested that they result in higher rates of late stage thrombosis, a clot formation at the end of the stent, which, in over 50% of cases, results in either an acute heart attack or death. Many physicians believe that the clot formations are due to the delayed healing of the vessel caused by the cytotoxic drugs that coat the stent or by some polymers that are used to deliver the drug.
Lombard believes that by using its PEP™ polymer to attach Axordia’s stem-cells to the stent, they can develop a revolutionary drug eluting stent which promotes early healing of the artery, rather than using the current cytoxic drugs which inhibit growth, and can cause late thrombotic events.
The collaboration between Lombard and Axordia is for a two and a half year project to develop a regenerative stent that encourages local vascular repair. Axordia’s stem cell-derived cells will be combined with Lombard’s PEP™ polymer to coat the stent, and will allow the human body to promote vascular repair and heal the damaged artery wall. Stem cell-derived technology has the ability to promote rapid healing at the site of stent implantation, reduce inflammation and act to prevent rejection.
Coronary artery disease causes approximately 6.9 million deaths worldwide each year and the market for drug eluting stents is currently valued at around $6 billion.
Alistair Taylor, Chairman of Lombard Medical, says:
“The potential for a regenerative stent is significant. Current drug eluting technology reduces restenosis but contributes to late stage thrombosis, with serious consequences for the patient. A second generation regenerative stent that promotes the healing of the artery could dramatically reduce these complications, improve the safety of the patients and has the potential to be the future for all drug eluting stents.”
Enquiries:
Lombard Medical Technologies PLC Tel: 01235 750 800
Alistair Taylor, Executive Chairman
Brian Howlett, Chief Executive Officer
Tim Hall, Finance Director
Financial Dynamics Tel: 020 7831 3113
David Yates / John Gilbert
Notes to editors
About Lombard Medical
Lombard Medical Technologies is a medical devices company developing stent grafts and other medical products for use in the treatment of vascular disease. The Company’s lead product, Aorfix™, is a stent graft for the treatment of aortic aneurysms, a balloon-like enlargement of the aorta which, if untreated, may rupture and cause death. Abdominal and thoracic aortic aneurysms are the 13th largest cause of death in the US and the market is estimated to be worth approximately US$2 billion by 2010. Aorfix™ is currently being commercialised in the EU, with US clinical trials expected to commence during 2006. The Company also has a research programme running with Amgen and the University of Sheffield to develop a drug eluting stent with a new drug and polymer combination to treat coronary stent restinosis.
Lombard Medical has recently successfully completed its initial public offering on AIM and was admitted to listing in December 2005, raising £23.9 million, net of expenses. The Company, based in Oxfordshire & Yorkshire, currently employs 75 people.
Further background on the Company can be found at www.lombardmedical.com.
About Axordia
Axordia Limited is one of the UK’s leading stem cell companies. It is using the extraordinary properties of stem cells to improve the speed and safety of conventional pharmaceutical drug discovery and also to develop therapeutic products that exploit the unique properties of its endovascular cells in transplantation and the treatment of cardiovascular disease.
Axordia is based in Sheffield and has strong links to the University of Sheffield, the UK’s leading university in the generation of stem cell intellectual property. The Company is focused on the delivery of three core business streams. Its Drug Discovery products that will provide improved safety and efficacy tests for used in drug development, ES Tools technologies will improve the research and manufacturing capability of the growing stem cell industry and its Therapeutics research and development programme, which is focused around immune suppression and promoting blood vessel growth.