VANCOUVER, Feb. 26 /CNW/ - Angiotech Pharmaceuticals, Inc. (NASDAQ: ANPI;
TSX: ANP), a global specialty pharmaceutical and medical device company, today
announced that it has received 510(k) clearance to begin marketing the
Quill(TM) SRS Polydioxanone (PDO), MONODERM(TM) and Nylon product lines in
"With the approval of the PDO, MONODERM(TM) and Nylon product lines in
Canada, we can further extend the global reach of this next-generation suture
product beyond the U.S. and Europe," said Dr. William Hunter, President and
CEO of Angiotech.
Quill(TM) SRS PDO is a longer-lasting absorbable suture, which is
typically used for deeper tissue closures while Quill(TM) SRS MONODERM(TM) is
made from a rapidly resorbing polymer and intended primarily for superficial
wound closure applications and soft tissue approximation where use of an
absorbable suture is appropriate. The monofilament Quill(TM) SRS Nylon is a
polyamide suture indicated for use in soft tissue approximation excluding
closure of the epidermis.
Quill(TM) SRS PDO, MONODERM(TM) and Nylon product lines have both been
previously approved for sale in the U.S. and Europe.
About the Quill(TM) Self-Retaining System (SRS)
Quill(TM) SRS represents a revolutionary technology in wound closure made
possible by bidirectional fixation within the wound. Its patented design
allows the surgeon to begin closure at the midpoint of the wound and suture in
two directions from the midpoint. Barbs within the Quill(TM) SRS distribute
tension across the wound and eliminate the need for knots.
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," "estimate," "continue," "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 the fourth quarter of 2008 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, 2007 filed with the SEC on Form
40-F and our quarterly report for the three months ended September 30, 2008
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.
Quill(TM) is a trademark of Quill Medical, Inc., and MONODERM(TM) is a
trademark of Surgical Specialties Corporation, both of which are wholly-owned
subsidiaries of Angiotech Pharmaceuticals, Inc.
(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:
For further information: DeDe Sheel, Investor Relations and Corporate
Communications, Angiotech Pharmaceuticals, Inc., (415) 293-4412,