Lombard Medical Tech Wins U.S. Nod for Aortic Stent

February 15, 2013

LONDON (Reuters) Feb 15 - Lombard Medical Technologies has won approval in the United States for its device to treat abdominal aortic aneurysm (AAA).

The Aorfix stent, a tube that is inserted into a swollen artery to prevent rupture, has been approved for patients with angulations at the neck of the aneurysm up to 90 degrees, the British company said on Friday.

"Between 20% and 30% of (AAA) patients have severe neck angulation...and no one in the US has approval above 60 degrees," Lombard's chief executive Simon Hubbert told Reuters in an interview.

"So there's very clear headroom for us above the competition in the US. It's a very significant opportunity," he said.

The alternative to endovascular repair is major surgery.

"We believe Aorfix will see rapid adoption in the United States (the device already has an 8 percent market share in the UK) and ultimately bring Lombard to the attention of the medical device majors," said Canaccord Genuity analyst Julie Simmonds.