Professor Don Ricci - Board Appointment
London, UK, 24 March 2010 – Lombard Medical Technologies PLC (AIM: LMT), a medical device company focused on device solutions for the $1 billion dollar abdominal aortic aneurysm repair market, announces the appointment of Professor Donald Richard Ricci, who has had a highly successful career as a leading cardiovascular interventionalist, as a Non-executive Director of Lombard Medical with effect from 18 March 2010.
Professor Ricci, 62, is the President and a Director of evYsio Medical Devices ULC, a company that holds 200,000,000 ordinary shares representing 9.2 per cent. of the Company’s issued share capital. Professor Ricci is also a Clinical Professor at the University of British Columbia, Canada, and the President of Dr. Donald R. Ricci, Inc. Professor Ricci has designed a number of coronary stents and related devices and has approximately 30 issued patents to his name, several of which have been successfully licensed to major medical device companies.
Save as disclosed above, Professor Ricci does not and has not held any directorships or partnerships in any companies or partnerships in the five years preceding the date of this announcement. There are no further disclosures required to be made pursuant to paragraph (g) of Schedule Two of the AIM Rules for Companies, in connection with this appointment.
Simon Neathercoat, Non-executive Chairman of Lombard Medical, commented:
“We are delighted to announce the appointment of Professor Ricci to Lombard Medical’s Board. He brings extensive experience as a cardiovascular interventionalist and as a developer of successful and innovative products to the Company as well as invaluable knowledge of the medical device industry.”
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For further information:
Lombard Medical Technologies PLC
Simon Neathercoat, Non-executive Chairman
John Rush, Chief Executive Officer
Tim Hall, Finance Director
Tel: 01235 750 800
Evolution Securities Limited
Barry Saint
Tim Redfern
Esther Lee
Tel : 020 7071 4300
Financial Dynamics
Jonathan Birt
Susan Quigley
Tel : 020 7831 3113
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 an endovascular stent graft for the treatment of abdominal aortic aneurysms (AAAs), a balloon-like enlargement of the aorta which, if untreated, may rupture and cause death. Approximately 4.5 million people are living with AAA in the developed world and each year 600,000 new cases are diagnosed. The market for endovascular stent grafts for the treatment of AAA is currently worth approximately $900 million and is expected to grow to around $1.6 billion by 2015. Aorfix™ is currently being commercialised in the EU, with a pivotal clinical trial ongoing in the USA.
The Company is headquartered in Oxfordshire, with operations in Ayrshire and Boston, USA.
Further background on the Company can be found at www.lombardmedical.com.