MicroPort Scientific buys Lombard Medical out of bankruptcy

Lombard Medical Technologies (NSDQ:EVAR) said today that it was acquired out of bankruptcy by MicroPort Scientific (HK:00853), which hopes to get Lombard’s stent grafts on the market in China.

MicroPort put $15 million into Lombard back in December 2016 in a deal that aimed to accelerate the commercialization of Lombard’s Aorfix and Altura stent grafts for treating abdominal aortic aneurysms. Finalized in April 2017, the agreement called for MicroPort to make components for Aorfix and Altura at its facility in Shanghai and gave it exclusive marketing rights for Lombard products in China and Brazil.

Today Oxfordshire, U.K.-based Lombard said its new parent will provide manufacturing support and continue to seek China FDA approval for the stent grafts. A manufacturing plant in Didcot, U.K., will stay on line and Lombard will continue enrolling patients in the Altitude registry study for Altura, the British company said.

Lombard bailed out of the U.S. market in August 2016 after receiving an FDA decision requiring a 50-patient clinical study of its Intelliflex low-profile delivery system for the Aorfix stent graft.

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