ANPI - Sector: Healthcare --- Industry: Biotechnology & Drugs

[setravis]

Press Release Source: Angiotech Pharmaceuticals, Inc.
Angiotech Pharmaceuticals announces FDA approval of next-generation TAXUS(R) Liberte(R) Atom(TM) Stent system
On Wednesday May 27, 2009, 11:54 am EDT


VANCOUVER, May 27 /PRNewswire-FirstCall/ - Angiotech Pharmaceuticals, Inc. (NASDAQ: ANPI, TSX: ANP) today announced that its corporate partner, Boston Scientific Corporation (NYSE: BSX - News) has received approval from the U.S. Food and Drug Administration (FDA) to market its TAXUS® Liberte® Atom(TM) Paclitaxel-Eluting Coronary Stent System, a highly deliverable, next-generation drug-eluting stent (DES) specifically designed for treating small coronary vessels. It was approved for use in vessels as small as 2.25 mm in diameter and joins the TAXUS® Express® Atom(TM) Stent as the only drug-eluting stents approved for small vessel use in the U.S. The Company plans to begin a full U.S. launch of TAXUS Liberte Atom next month.

"The rapid adoption of the TAXUS Express Atom Stent has confirmed the need for this type of stenting option in the treatment of small-vessel coronary artery disease," said Mark Turco, M.D., F.A.C.C., F.S.C.A.I., Director of the Center for Cardiac and Vascular Research at Washington Adventist Hospital, Takoma Park, Maryland. "The TAXUS Liberte Atom Stent provides clear design and deliverability advantages. Additionally, in the TAXUS Atlas Small Vessel clinical trial, the TAXUS Liberte Atom Stent yielded a two-year target lesion revascularization rate that was 60 percent less than the TAXUS Express Atom Stent. I am pleased to be able to offer this option to my patients."

Data from numerous clinical studies have shown that an estimated 10 percent of patients undergoing percutaneous coronary interventions have small vessels ((less than)2.5 mm). Until recently, many physicians were inclined to implant bare-metal stents in these patients since they were the only approved stenting option for small vessels. Last year's launch of the TAXUS Express Atom Stent offered an alternative treatment choice for patients with small vessels who will now have the additional option of the TAXUS Liberte Atom Stent.

The TAXUS Liberte Stent features design improvements over the Company's first-generation TAXUS Express Stent, including thinner struts to allow better stent deliverability and conformability, as well as uniform stent geometry for consistent lesion coverage and drug distribution.

Boston Scientific offers the industry's widest range of coronary stent sizes. The Company expects to expand its stent portfolio later this year with the first 38 mm long DES, the TAXUS® Liberte® Long Stent, which is currently under review with the FDA.

TAXUS Stents have been evaluated by the industry's most extensive randomized, controlled clinical trial program, with follow-up to five years in some cases. These trial results have been supplemented by data on more than 35,000 patients enrolled in post-approval registries. To date, approximately 11 million Boston Scientific stents have been implanted globally, making them the world's most frequently used stents.

Forward Looking Statements

Statements contained in this press release that are not based on historical fact, including without limitation statements containing the words "believes," "may," "plans," "will," "estimates," "continues," "anticipates," "intends," "expects" and similar expressions, constitute "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 and "forward-looking information" within the meaning of applicable Canadian securities laws. All such statements are made pursuant to the "safe harbor" provisions of applicable securities legislation. Forward-looking statements may involve, but are not limited to, comments with respect to our objectives and priorities for 2009 and beyond, our strategies or future actions, our targets, expectations for our financial condition and the results of, or outlook for, our operations, research, development, product and drug development. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, events or developments to be materially different from any future results, events or developments expressed or implied by such forward-looking statements. Many such risks, uncertainties and other factors are taken into account as part of our assumptions underlying these forward-looking statements and include, among others, the following: general economic and business conditions, both nationally and in the regions in which we operate; market demand; technological changes that could impact our existing products or our ability to develop and commercialize future products; competition; existing governmental regulations and changes in, or the failure to comply with, governmental regulations; adverse results or unexpected delays in pre-clinical and clinical product development processes; adverse findings related to the safety and/or efficacy of our products or products sold by our partners; decisions, and the timing of decisions, made by health regulatory agencies regarding approval of our technology and products; the requirement for substantial funding to conduct research and development and to expand manufacturing and commercialization activities or consummate acquisitions; and any other factors that may affect performance. In addition, our business is subject to certain operating risks that may cause the actual results expressed or implied by the forward-looking statements in this press release to differ materially from our actual results. These operating risks include: our ability to attract and retain qualified personnel; our ability to successfully complete pre-clinical and clinical development of our products; changes in business strategy or development plans; our failure to obtain patent protection for discoveries; loss of patent protection resulting from third party challenges to our patents; commercialization limitations imposed by patents owned or controlled by third parties; our ability to obtain rights to technology from licensors; liability for patent claims and other claims asserted against us; our ability to obtain and enforce timely patent and other intellectual property protection for our technology and products; the ability to enter into, and to maintain, corporate alliances relating to the development and commercialization of our technology and products; market acceptance of our technology and products; our ability to successfully manufacture, market and sell our products; the continued availability of capital to finance our activities; and any other factors referenced in our other filings with the Securities and Exchange Commission ("SEC") and applicable Canadian regulatory authorities. For a more thorough discussion of the risks associated with our business, see the "Risk Factors" section in our annual report for the year ended December 31, 2008 filed with the SEC on Form 10-K, and our quarterly report for the three months ended March 31, 2009 filed with the SEC on Form 10-Q.

Given these uncertainties, assumptions and risk factors, readers are cautioned not to place undue reliance on such forward-looking statements. Except as required by law, we disclaim any obligation to update any such factors or to publicly announce the result of any revisions to any of the forward-looking statements contained in this press release to reflect future results, events or developments.

About Angiotech Pharmaceuticals

Angiotech Pharmaceuticals, Inc. is a global specialty pharmaceutical and medical device company with over 1,500 dedicated employees. Angiotech discovers, develops and markets innovative treatment solutions for diseases or complications associated with medical device implants, surgical interventions and acute injury. To find out more about Angiotech (NASDAQ: ANPI, TSX: ANP), please visit our website at www.angiotech.com.

[setravis]

Angiotech Pharmaceuticals, Inc. (USA)

Profile: 
     
1618 Station Street
British Columbia, V6T 1Z4
Vancouver, BC V6A 1B6
Phone: 16042217676
Fax: 16042212330
Sector: Healthcare
Industry: Biotechnology & Drugs
Employees: 1,582 
Complete Financials: 12/31/2008
Earnings Announcements: 06/30/2004 
Last Updated: May 23, 2009


Business Overview

BRIEF: For the three months ended 31 March 2009, Angiotech Pharmaceuticals, Inc.'s revenues increased 15% to $88.3M. Net income totaled $12.4M vs. a loss of $15.8M. Revenues reflect significant increase in income from License fees. Net income reflects a fall in license and royalty fees, lower depreciation & amortization expenses, the absence of in-process research and development expense and lower selling, general and administration expenses. http://www.angiotech.com/

[setravis]

The Golden Cross...

52wk Range: 0.10 - 3.49
Volume: 14,270,167
Avg Vol (3m): 473,408

Technicals
Record Volume
Most Actives
Percentage Gainer

Last Price Quote is:
57.68%above 13-day MA
134.23%above 50-day MA
RS Rating: 98 

Fundamentals
Key Data:
Market Cap (M): $105.55 
P/E Ratio: 47.27 
PEG Ratio: N/A 
Next Earnings: 07/27/2009
Last Analyst Rating: Outperform

[setravis]

up big in the after hours...

Angiotech Pharmaceuticals, Inc.(NasdaqGS: ANPI)
After Hours: 2.31  0.59 (34.30%) 7:54PM ET

[setravis]

partner with Boston Scientific & profitable too
Expecting positive forcast from the company

52wk Range: 0.10 - 3.49
Volume: 26,505,329
Avg Vol (3m): 688,234

Technicals
Record Volume
Most Actives
Gap Up
Percentage Gainer

Last Price Quote is:
79.55%above 13-day MA
174.26%above 50-day MA
RS Rating: 99 

Fundamentals
Key Data:
Market Cap (M): $105.55 
P/E Ratio: 47.27 
PEG Ratio: N/A 
Next Earnings: 07/27/2009
Last Analyst Rating: Outperform

[setravis]

VANCOUVER, June 3, 2009 /PRNewswire-FirstCall via COMTEX/ -- Angiotech Pharmaceuticals, Inc. (ANPI, Trade), a specialty pharmaceutical and medical device company, announced today the completion of a collaboration transaction with Haemacure Corporation , a specialty bio-therapeutics company, relating to certain of Haemacure's proprietary fibrin and thrombin technologies, both of which are currently in development.

As part of this collaboration, Angiotech has agreed to provide to Haemacure a senior secured bridge financing facility in the amount of US$2.5 million, with the option for Angiotech to invest an additional US$1 million in the facility.

"Our new collaboration with Haemacure provides Angiotech with access to critically important technology for certain of our surgical product candidates currently in preclinical development," said Dr. William Hunter, President and CEO of Angiotech. "We believe we have assembled the majority of the key components necessary to deliver on the next generation of innovations, adding to our proprietary Quill SRS franchise for our surgical business, and we will provide additional details as we prepare certain of these product candidates for the clinical development and regulatory approval process."


 
    The collaboration will consist principally of the following three 
    agreements: 
    -  Fibrin Sealant Distribution Agreement. The parties have entered into a 
       Distribution Agreement whereby Angiotech is granted non-exclusive, 
       world-wide distribution rights to Haemacure's fibrin sealant product 
       candidate in selected surgical indications. The distribution agreement 
       has a term on a country-by-country and product-by-product basis of 
       10 years from the date Haemacure receives United States Food and 
       Drug Administration (FDA) approval or similar regulatory approval in 
       countries outside of the United States of its fibrin selant, and has 
       an option for Angiotech to renew for an additional five years, subject 
       to certain performance adjustments. Any fibrin sealant product would 
       be marketed and distributed by Angiotech's surgical sales organization 
       upon regulatory approval. Haemacure will be responsible for all 
       clinical development and related costs with respect to fibrin sealant 
       product candidates. 
    -  Drug-Loaded Fibrin Sealant License and Development Agreement. The 
       parties have entered into a License and Development Agreement whereby 
       Haemacure and Angiotech have agreed to jointly develop and 
       commercialize a next generation, drug-loaded fibrin sealant product 
       candidate. Angiotech and Haemacure will collaborate to create novel 
       fibrin sealant technologies that, in addition to the haemastatic 
       properties offered by the fibrin sealant itself, may target the 
       prevention of infection, pain, or delivery of stem cells using 
       Haemacure's fibrin sealant as a carrier of such therapies. The 
       companies will jointly conduct research and clinical development, with 
       each party contributing key personnel, technology and intellectual 
       property. Collaboration costs will be shared based on each company's 
       contribution to the program, and eventual profits will be shared 
       pro-rata based on each company's contribution to collaboration 
       expenses. This term of the agreement will expire on a collaboration 
       product-by-collaboration product basis upon the later of 15 years 
       after the first commercial sale of such collaboration product, and the 
       last-to-expire valid claim applicable to such collaboration product. 
    -  Thrombin Supply Agreement. The parties have entered into an exclusive 
       Supply Agreement whereby Haemacure will supply thrombin to Angiotech 
       for the development of certain Angiotech preclinical product 
       candidates that may require thrombin. The Supply Agreement has a term 
       of 10 years from the first commercial sale of an approved Angiotech 
       product containing thrombin procured from Haemacure, and has an option 
       for Angiotech to renew for an additional five years. 

The senior secured bridge loan from Angiotech to Haemacure will provide US$2.5 million to Haemacure in multiple drawdowns. The loan will be senior to all of Haemacure's existing and future indebtedness, subject to certain exceptions; will bear interest at an annual rate of 10%, compounded quarterly and have a term of two years. Angiotech may, at its sole discretion, advance during a period of two years up to an additional US$1 million to Haemacure from time to time, in multiple draw-downs, for a total loan of US$3.5 million. The senior secured bridge loan also has certain equity conversion features and rights to board representation, as described in detail in Haemacure's press release dated May 22, 2009.


 
    Forward Looking Statements 
    -------------------------- 

Statements contained in this press release that are not based on historical fact, including without limitation statements containing the words "believes," "may," "plans," "will," "estimates," "continues," "anticipates," "intends," "expects" and similar expressions, constitute "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 and "forward-looking information" within the meaning of applicable Canadian securities laws. All such statements are made pursuant to the "safe harbor" provisions of applicable securities legislation. Forward-looking statements may involve, but are not limited to, comments with respect to our objectives and priorities for 2009 and beyond, our strategies or future actions, our targets, expectations for our financial condition and the results of, or outlook for, our operations, research, development, product and drug development. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, events or developments to be materially different from any future results, events or developments expressed or implied by such forward-looking statements. Many such risks, uncertainties and other factors are taken into account as part of our assumptions underlying these forward-looking statements and include, among others, the following: general economic and business conditions, both nationally and in the regions in which we operate; market demand; technological changes that could impact our existing products or our ability to develop and commercialize future products; competition; existing governmental regulations and changes in, or the failure to comply with, governmental regulations; adverse results or unexpected delays in pre-clinical and clinical product development processes; adverse findings related to the safety and/or efficacy of our products or products sold by our partners; decisions, and the timing of decisions, made by health regulatory agencies regarding approval of our technology and products; the requirement for substantial funding to conduct research and development and to expand manufacturing and commercialization activities or consummate acquisitions; and any other factors that may affect performance. In addition, our business is subject to certain operating risks that may cause the actual results expressed or implied by the forward-looking statements in this press release to differ materially from our actual results. These operating risks include: our ability to attract and retain qualified personnel; our ability to successfully complete pre-clinical and clinical development of our products; changes in business strategy or development plans; our failure to obtain patent protection for discoveries; loss of patent protection resulting from third party challenges to our patents; commercialization limitations imposed by patents owned or controlled by third parties; our ability to obtain rights to technology from licensors; liability for patent claims and other claims asserted against us; our ability to obtain and enforce timely patent and other intellectual property protection for our technology and products; the ability to enter into, and to maintain, corporate alliances relating to the development and commercialization of our technology and products; market acceptance of our technology and products; our ability to successfully manufacture, market and sell our products; the continued availability of capital to finance our activities; and any other factors referenced in our other filings with the Securities and Exchange Commission ("SEC") and applicable Canadian regulatory authorities. For a more thorough discussion of the risks associated with our business, see the "Risk Factors" section in our annual report for the year ended December 31, 2008 filed with the SEC on Form 10-K, and our quarterly report for the three months ended March 31, 2009 filed with the SEC on Form 10-Q.

Given these uncertainties, assumptions and risk factors, readers are cautioned not to place undue reliance on such forward-looking statements. Except as required by law, we disclaim any obligation to update any such factors or to publicly announce the result of any revisions to any of the forward-looking statements contained in this press release to reflect future results, events or developments.

About Angiotech Pharmaceuticals

Angiotech Pharmaceuticals, Inc. is a global specialty pharmaceutical and medical device company with over 1,500 dedicated employees. Angiotech discovers, develops and markets innovative treatment solutions for diseases or complications associated with medical device implants, surgical interventions and acute injury. To find out more about Angiotech (ANPI, Trade), please visit our website at www.angiotech.com.

About Haemacure

Haemacure Corporation is a specialty biotherapeutics company developing high-value human plasma-derived protein products for commercialization. Haemacure's research and development effort is driven by its proprietary plasma protein extraction technology to develop next-generation products, including surgical haemostats. Haemacure's proprietary, lead product candidate is a fibrin sealant in late-stage clinical trials. Haemacure's proprietary, second product candidate is thrombin, a component of its fibrin sealant, now in preclinical stage. Follow-on development will focus on the use of fibrin sealant in aesthetics, adhesion prevention, combination with biomaterials, drug delivery, regenerative medicine, skin graft fixation for burn injuries, and wound healing.

SOURCE Angiotech Pharmaceuticals, Inc.



Copyright (C) 2009 PR Newswire. All rights reserved

[setravis]

As upside action continues to improve
Technicals on ANPI are strong...


52wk Range: 0.10 - 3.49
Volume: 12,929,020
Avg Vol (3m): 1,300,650

Technicals
Most Actives
Percentage Gainer

Last Price Quote is:
30.43%above 13-day MA
104.73%above 50-day MA
RS Rating: 99 

Fundamentals
Key Data:
Market Cap (M): $153.22 
P/E Ratio: 47.27 
PEG Ratio: N/A 
Next Earnings: 07/27/2009
Last Analyst Rating: Outperform

[setravis]

The Golden Cross...

partner with Boston Scientific & profitable too
Expecting positive forcast from the company

As upside action continues to improve
Technicals on ANPI are strong...

Great News Stock Going Higher
The FDA just gave ANPI much needed BOOST...this is HUGE
Look for this pup to be higher in coming days...

52wk Range: 0.10 - 3.49
Volume: 28,549,271...Record high volume today...beat the old record 26 mill...
Avg Vol (3m): 1,573,800

Technicals
Most Actives
Gap Up
Percentage Gainer

Last Price Quote is:
50.56%above 13-day MA
131.97%above 50-day MA
RS Rating: 98 

Fundamentals
Key Data:
Market Cap (M): $144.71 
P/E Ratio: 47.27 
PEG Ratio: N/A 
Next Earnings: 07/27/2009
Last Analyst Rating: Outperform

Ascending Triangle (Continuation) Pattern

[setravis]

VANCOUVER, June 8, 2009 /PRNewswire-FirstCall via COMTEX/ -- Angiotech Pharmaceuticals, Inc. (ANPI, Trade) today announced that the U.S. Food and Drug Administration (FDA) has granted 510(k) clearance for the Option(TM) Inferior Vena Cava (IVC) Filter in the United States, for use in both permanent and retrievable indications. Angiotech holds exclusive worldwide rights to market and distribute the Option IVC Filter, which it obtained in a license agreement with privately held Rex Medical, LP (Rex Medical), as previously announced in March 2008.

The Option IVC Filter is used for the prevention of recurrent pulmonary embolism (PE). The device is implanted, typically by interventional radiologists in a minimally invasive procedure, into the body's inferior vena cava to prevent PE. Option is specifically designed for use as both a permanent or temporary implant (in temporary, or retrievable, indications, a physician may later perform a second surgical procedure to remove the Option IVC Filter if necessary or where mandated clinically).

"This important FDA clearance of the Option IVC Filter continues Angiotech's mission of offering the most highly innovative technology solutions to our physician customers and their patients," said Dr. William Hunter, President and CEO of Angiotech. "We are excited to commence commercial sales of Option through our dedicated Interventional Sales Team in the very near future. We believe the flexibility to use the Option IVC Filter in both permanent and retrievable indications, with clinical study data indicating 92% retrieval success, and a retrieval at up to 175 days post-implantation, provides Option the opportunity to be the market leading product in PE prevention."

According to market analysis conducted by Millennium Research Group, the U.S. market for IVC filters was approximately $200 million in 2007 (with approximately 160,000 IVC filters implanted). This market is predicted to grow to $300 million by 2012. IVC filters can be permanent or retrievable (where a physician can remove them when the patients no longer require them). Retrievable filters accounted for approximately two-thirds of the market in 2007. The Option IVC Filter is designed to be used in both permanent and retrievable indications and has been successfully retrieved at long intervals - up to 175 days post-implantation in the U.S. clinical trial.

The results of a recently concluded clinical trial for the Option IVC Filter were presented by the study's Principle Investigator, Dr. Matthew Johnson, at the 34th Annual Scientific Meeting of the Society of Interventional Radiology in March of 2009. The single-arm, multicenter clinical trial, which enrolled 100 patients with a mean age of 59 years, was designed to evaluate the safety and efficacy of the Option IVC filter when used both as a permanent and temporary filter in patients at increased risk for pulmonary embolism. In the trial, clinical success, defined as placement technical success without subsequent PE, significant filter migration or embolization, symptomatic thrombosis or other complications requiring filter removal or intervention, was achieved in 88% of subjects. Retrieval success was achieved in 92% (36/39) of cases where retrieval was attempted, with a mean implantation time in those cases of 67 days. The safety profile of the Option IVC Filter was consistent with other currently marketed IVC filters.

About the Option(TM) Inferior Vena Cava Filter

The Option IVC filter, developed by Rex Medical, is specifically designed to facilitate long-term retrieval post device implantation if desired or deemed necessary by the treating physician, and can be used in the following conditions: pulmonary thromboembolism when anticoagulant therapy is contraindicated, failure of anticoagulant therapy in thromboembolic diseases, emergency treatment following massive PE, and chronic recurrent PE when anticoagulant therapy has failed or is contraindicated. The nitinol, Option(TM) IVC Filter, with a low profile delivery system, is designed with struts which direct clot volume into the center of the vessel for maximum dissolution and preservation of blood flow, allowing for capture of clinically significant clot and protection against PE. The self-centering filter facilitates optimal positioning and stability within the inferior vena cava.

About Pulmonary Embolism (PE)

PE is an extremely common and highly lethal condition. PE is the sudden blocking of an artery of the lung (pulmonary artery) by a collection of solid material brought through the bloodstream (embolus) - usually a blood clot (thrombus) or other foreign material. PE occurs when these clots break loose and "embolize" to block pulmonary blood vessels in the lungs. According to clinical research, if left untreated, PE has a mortality rate of 30%. Emboli dislodgement can be caused by peripheral vascular disease (PVD), severe deep vein thrombosis (DVT), trauma and, prolonged immobilization often following a major surgical procedure.


 
    Forward Looking Statements 
    -------------------------- 

Statements contained in this press release that are not based on historical fact, including without limitation statements containing the words "believes," "may," "plans," "will," "estimates," "continues," "anticipates," "intends," "expects" and similar expressions, constitute "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 and "forward-looking information" within the meaning of applicable Canadian securities laws. All such statements are made pursuant to the "safe harbor" provisions of applicable securities legislation. Forward-looking statements may involve, but are not limited to, comments with respect to our objectives and priorities for 2009 and beyond, our strategies or future actions, our targets, expectations for our financial condition and the results of, or outlook for, our operations, research, development, product and drug development. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, events or developments to be materially different from any future results, events or developments expressed or implied by such forward-looking statements. Many such risks, uncertainties and other factors are taken into account as part of our assumptions underlying these forward-looking statements and include, among others, the following: general economic and business conditions, both nationally and in the regions in which we operate; market demand; technological changes that could impact our existing products or our ability to develop and commercialize future products; competition; existing governmental regulations and changes in, or the failure to comply with, governmental regulations; adverse results or unexpected delays in pre-clinical and clinical product development processes; adverse findings related to the safety and/or efficacy of our products or products sold by our partners; decisions, and the timing of decisions, made by health regulatory agencies regarding approval of our technology and products; the requirement for substantial funding to conduct research and development and to expand manufacturing and commercialization activities or consummate acquisitions; and any other factors that may affect performance. In addition, our business is subject to certain operating risks that may cause the actual results expressed or implied by the forward-looking statements in this press release to differ materially from our actual results. These operating risks include: our ability to attract and retain qualified personnel; our ability to successfully complete pre-clinical and clinical development of our products; changes in business strategy or development plans; our failure to obtain patent protection for discoveries; loss of patent protection resulting from third party challenges to our patents; commercialization limitations imposed by patents owned or controlled by third parties; our ability to obtain rights to technology from licensors; liability for patent claims and other claims asserted against us; our ability to obtain and enforce timely patent and other intellectual property protection for our technology and products; the ability to enter into, and to maintain, corporate alliances relating to the development and commercialization of our technology and products; market acceptance of our technology and products; our ability to successfully manufacture, market and sell our products; the continued availability of capital to finance our activities; and any other factors referenced in our other filings with the Securities and Exchange Commission ("SEC") and applicable Canadian regulatory authorities. For a more thorough discussion of the risks associated with our business, see the "Risk Factors" section in our annual report for the year ended December 31, 2008 filed with the SEC on Form 10-K, and our quarterly report for the three months ended March 31, 2009 filed with the SEC on Form 10-Q.

Given these uncertainties, assumptions and risk factors, readers are cautioned not to place undue reliance on such forward-looking statements. Except as required by law, we disclaim any obligation to update any such factors or to publicly announce the result of any revisions to any of the forward-looking statements contained in this press release to reflect future results, events or developments.

About Angiotech Pharmaceuticals

Angiotech Pharmaceuticals, Inc. is a global specialty pharmaceutical and medical device company with over 1,500 dedicated employees. Angiotech discovers, develops and markets innovative treatment solutions for diseases or complications associated with medical device implants, surgical interventions and acute injury. To find out more about Angiotech (ANPI, Trade), please visit our website at www.angiotech.com.

About Rex Medical, LP

Rex Medical, LP, based in Conshohocken, PA, is a privately held medical device company specializing in the development, manufacturing and marketing of minimally invasive medical devices targeted towards the cardiovascular, venous access, endosurgery and oncology markets.

Option(TM) is a trademark of Rex Medical, LP, used under license by Angiotech.

SOURCE Angiotech Pharmaceuticals, Inc.



Copyright (C) 2009 PR Newswire. All rights reserved

[setravis]

Angiotech says FDA approves embolism filter
Angiotech says FDA gave marketing approval to Option filter, and stock skyrockets
On Monday June 8, 2009, 11:00 am EDT

NEW YORK (AP) -- Angiotech Pharmaceuticals Inc. said Monday the Food and Drug Administration granted marketing approval to a device designed to filter blockages in an artery that feeds the lungs.

Angiotech said the FDA approved the Option Inferior Vena Cava filter for both permanent implantation and temporary use. The approval sent shares of Angiotech surging 76 cents, or 44.7 percent, to $2.46 in heavy morning trading.

The Vancouver, British Columbia-based company said the Option device is designed to prevent recurrent pulmonary embolism, which is a sudden blockage of an artery of the lung, usually a blood clot. Angiotech said embolisms are fatal in 30 percent of cases if they are not treated.

The company estimates that the market for inferior vena cava filters will be about $300 million by 2012.