Board Change
London, UK, 9 January 2007 - Lombard Medical Technologies PLC (“Lombard Medical”) today announces that Nigel Gray has retired from his position as a Non-executive Director of the Company.
Nigel was appointed at the time of Lombard Medical’s listing on AIM last year. Due to personal commitments, he is not able to devote the necessary time to properly fulfil his responsibilities as a Non-executive Director during a period of rapid change for the Company. He therefore believes that it is in the Company’s best interest for him to step down from the Board.
Alistair Taylor, Executive Chairman of Lombard Medical, said:
“On behalf of the Board I would like to thank Nigel for his contribution to Board discussions and the guidance that he has given the Company over the last year.”
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 PLC is a medical devices group 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 having commenced during 2006. The Company’s Polymer Coatings Division primarily develops polymer coatings for use in drug eluting stents and has a number of research collaborations developing novel products for this $6bn market.
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 and Boston, USA, employs over 90 people.
Further background on the Company can be found at www.lombardmedical.com.