LONDON (Thomson Financial) - Lombard Medical Technologies Plc., the
specialist medical device company, posted lower first half operating losses of
5.3 million pounds, down 5 percent on 2007, but the results showed the company
needs to raise significant amounts of cash.
Cash at the period end was 3.9 million pounds. The company has had one
fund-raising this year of 7.1 million pounds.
The company makes stent grafts to treat coronary aneurisms and its lead
Aorfix product is currently in U.S. clinical trials.
Lombard set itself a target of recruiting all 180 patients it needs for the
trial by the end of November. It currently has around 60 patients enrolled,
although it says the rate of enrolment has increased.
The company said it is pursuing the funding strategy previously outlined in
the 2007 annual report, significant progress has been made and discussions are
underway with a number of potential investors.
julian.hofmann@thomsonreuters.com
jh1/lam
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