London, UK – Lombard Medical Technologies PLC (AIM:LMT), the specialist medical technology company focussed on innovative vascular products, is pleased to announce the appointment of Raymond Wayne Cohen as Non-executive Chairman, with immediate effect.
Mr. Cohen, a US national and aged 54, has extensive international medical device experience having held several Chairman and CEO positions on the boards of both publicly listed and private life sciences companies in the US and Europe. He is currently Non-executive Chairman of Jenavalve Technology Inc., a Munich-based developer, manufacturer and marketer of transcatheter aortic valve systems; Nonexecutive Chairman of Syncroness, Inc., a contract engineering firm; a Non-executive Director of Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI), a developer and marketer of oncology and haematology drugs; a Non-executive Director of BioLife Solutions, Inc. (OTC:BLFS), a manufacturer of biopreservation media for human cells; and a Non-executive Director of LoneStar Heart, Inc., a developer of biomaterials for the treatment of congestive heart failure.
From mid-2010 to late 2012, Mr. Cohen served as Chief Executive Officer of Vessix Vascular, Inc., a developer of a novel percutaneous radiofrequency balloon catheter renal denervation system used to treat uncontrolled hypertension. In November 2012, during his tenure as CEO, the company was acquired by Boston Scientific Corporation (NYSE:BSX) in a structured transaction valued at up to $425 million.
As announced in April, John Rush decided to step down as Non-executive Chairman following the achievement of FDA approval for Aorfix™ in the United States. John Rush remains an active and committed member of the Board as a Non-executive Director.
CEO of Lombard Medical, Simon Hubbert, commented: “The Board is delighted to appoint a Chairman of Raymond’s calibre and experience. He brings with him extensive knowledge of the medical device sector in the US and international markets, which will serve the Company well as it executes its strategy. We also thank John for his leadership over the last few years and are pleased he will remain with the Company as a valued member of the Board.”
About Lombard Medical
Lombard Medical Technologies PLC (AIM: LMT), is a medical device company focused on device solutions for the $1.2 billion dollar per annum abdominal aortic aneurysm (AAA) repair market. AAAs are a balloon-like enlargement of the aorta which, if left untreated, may rupture and cause death.
Approximately 4.5 million people are living with AAAs in the developed world and each year 600,000 new cases are diagnosed. The market for endovascular stent grafts for this application is expected to grow to $1.6 billion by 2015. The Company’s lead product, Aorfix™, is an endovascular stent graft which has been specifically designed to solve the problems that exist in treating complex tortuous anatomy which is often present in advanced AAA disease. Aorfix™ is currently being commercialised in the EU, and has been approved by the FDA in the US, the first AAA stent graft not of US origin to gain FDA approval. The Company intends to launch AorfixTM with AorflexTM in the US in H2 2013; a coordinated launch event will take place at the VEITH symposium in New York City in November 2013.
The Company is headquartered in Oxfordshire, with operations in Ayrshire and Phoenix, USA
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