Lombard Medical Technologies' core product is the Aorfix stent graft, designed to treat abdominal aortic aneurysms with neck angles up to 90°, addressing complex AAA cases. Aorfix received FDA approval in February 2013, and regulators in Japan recently approved the AorFlex delivery system used to implant Aorfix. The company is pursuing a global rollout of Aorfix and cites continued development of other new products as part of its growth plan. To support these initiatives, Lombard has obtained non-dilutive financing intended to extend its cash runway. Management says the financing will solidify the balance sheet and support key growth initiatives for the product's global launch. Oxford Finance expects Lombard to gain market share based on Aorfix's advantages over competing AAA stent grafts. Lombard Medical Technologies is a British medical device company whose core product is the Aorfix flexible stent graft and the accompanying Aorflex delivery system for treating abdominal aortic aneurysms. The Aorfix stent graft won a PMA nod from the FDA in February and Lombard recently won pre‑market approval for the Aorflex delivery system. The company says the Aorfix system is the only graft in the U.S. indicated to treat challenging neck angulations from 0°–90°. Lombard announced a $32 million funding round and plans to use the cash to support the U.S. rollout of Aorfix/Aorflex. Management intends to hire 15 new sales representatives in the U.S., adding to the two reps who supported clinical trials. Analysts expect further expansion of the sales team and targeted hospitals in 2014 and 2015.

Total raised

$58M

Funding rounds

2

Latest round

Debt Financing

Latest activity

Apr 2015