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 proprietary bioresorbable polymers for next generation drug-eluting coronary stents.
The collaboration between Lombard Medical and Smith & Nephew starts a two year project to develop a bioresorbable drug-eluting coating for coronary stents. Since 1994, Smith & Nephew has been developing a range of leading edge high strength bioresorbable polymers for orthopaedic applications. The technology also allows drug release and polymer degradation rates to be independently controlled. By combining with Lombard Medical’s surface treatment and attachment technologies, new properties and jointly owned intellectual property will be generated.
Early feasibility work has already demonstrated the advantages of bringing together the technologies from both companies, which Lombard Medical believes could create a competitive advantage over other bioresorbable polymers that are currently in development.
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 up to 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 restenotic thickening of the vessel wall.
Despite the clinical success of drug-eluting stents, recent data has suggested that they result in higher rates of late stage thrombosis when compared to stents without drug (bare metal stents). Thrombosis is clot formation within the stent, which, in over 50% of cases, results in either an acute heart attack or death. Many physicians believe that the clot formation is due to the delayed healing of the vessel caused by the cytotoxic drugs that coat the stent or by local reaction to polymers used to deliver the drug. As a result there is a growing need for next generation drug-eluting stents which use bioresorbable polymers to ensure both the drug and polymer completely disappear, thereby allowing complete healing to take place.
Coronary artery disease causes approximately 6.9 million deaths worldwide each year 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 whose expertise in bioresorbable polymers is second to none. Our in-depth knowledge of coating coronary stents makes this an ideal partnership. This joint development is committed to promote rapid healing and improve patient safety after stent implantation. We expect to license these new technologies to coronary stent companies.”
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.
The Company, headquartered in Oxfordshire, with operations in Yorkshire and Boston, USA, employs over 90 people.
Further background on the Company can be found at www.lombardmedical.com.