MDY buys 2.45 million Lombard shares

MDY Healthcare, a strategic investor in health care companies, has acquired 2,450,000 shares in fellow UK-based Lombard Medical Technologies participating in both the latter's June equity fundraising and more recently acquiring shares in the market.

Headquartered near Oxford, Lombard is a specialist cardiovascular device and polymer coatings company. Its flagship product, the Aorfix endovascular stent graft for abdominal aortic aneurysm, is CE Mark approved in the European Union.

The company has recently received full FDA approval to proceed with a pivotal US clinical trial to treat patients where the neck of the aneurysm is sharply angled (up to 90 degrees). With currently no device approved for the treatment of AAA with neck angulation greater than 60 degrees, Aorfix has a potentially unique product profile targeting an unmet clinical need, noted Lombard.