VANCOUVER, July 23 /CNW/ - Angiotech Pharmaceuticals, Inc. (NASDAQ: ANPI,
TSX: ANP) today filed a preliminary short form base shelf prospectus with the
securities commissions of British Columbia and Ontario and a corresponding
shelf registration statement on Form S-3 with the United States Securities and
Exchange Commission (collectively, the "Offering Documents"). The Offering
Documents, when made final and / or declared effective, will allow Angiotech
to make offerings of Common shares, Class I Preference shares, debt
securities, warrants or units for initial aggregate proceeds of up to US$250
million during the next 25 months to potential purchasers in British Columbia,
Ontario and the United States. Angiotech intends to use the proceeds from any
such offering for general corporate purposes, including funding research and
development programs, capital expenditures, working capital and/or repayment
or refinancing of the Company's outstanding indebtedness, except as otherwise
indicated in the applicable prospectus supplement related to any such
offering.
A registration statement relating to these securities has been filed with
the United States Securities and Exchange Commission but has not yet become
effective. These securities may not be sold nor may offers to buy be accepted
prior to the time the registration statement becomes effective. This news
release shall not constitute an offer to sell or the solicitation of an offer
to buy nor shall there be any sale of these securities in any state or
jurisdiction in which such offer, solicitation or sale would be unlawful prior
to the registration or qualification under the securities laws of any such
state or jurisdiction.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.
(C) 2009 Angiotech Pharmaceuticals, Inc. All Rights Reserved.
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.
For further information: DeDe Sheel, Investor Relations and Corporate
Communications, Angiotech Pharmaceuticals, Inc., (415) 293-4412,
dede.sheel@fd.com
