VANCOUVER, Oct. 11 /CNW/ - Angiotech Pharmaceuticals, Inc. (NASDAQ: ANPI,
TSX: ANP), a global specialty pharmaceutical and medical device company, today
announced that it has received CE Mark approval to begin marketing the
Quill(TM) Self-Retaining System (SRS) MONODERM(TM) sutures in Europe.
This CE Mark approval follows Angiotech's recent announcement in August
2007 that it had received clearance from the U.S. Food and Drug Administration
(FDA) to begin marketing the Quill(TM) SRS MONODERM(TM) product line in the
"We are pleased with our accelerated pace in building out our North
American Quill(TM) sales force, and we are making good progress in assembling
a corresponding team in Europe to support this key catalyst product for
Angiotech," said Chris Dennis, Senior Vice President, Global Sales & Marketing
"With these approvals, we can now focus on making the Quill(TM) SRS
product line widely available in the US, Europe, Asia, and Latin America.
Angiotech will continue to expand the Quill(TM) SRS product line to cover
multiple procedures for wound closure and tissue approximation," added Mr.
Quill(TM) SRS MONODERM(TM) sutures, which are made from a rapidly
resorbing polymer, are intended primarily for superficial wound closure
applications and indicated for soft tissue approximation where use of an
absorbable suture is appropriate. It is anticipated that the Quill(TM) SRS
MONODERM(TM) sutures will be available in various lengths and needle
configurations using three different diameters (USP sizes 0, 2-0 and 3-0).
Angiotech expects to exhibit and introduce the Quill(TM) SRS product line
at the Annual Meeting of the American Society of Plastic Surgeons (ASPS) to be
held on October 26-31, 2007 in Baltimore, MD.
About the Quill(TM) Self-Retaining System (SRS)
The 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. This highly
efficient, knot-less system can save significant procedural time in the
operating room while also enhancing wound closure.
Note on 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 constitute "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 in this release include but are not limited to
statements regarding; financial benefits to Angiotech that could potentially
be realized from Angiotech's wound closure business, the ability of Angiotech
to commercialize the Quill(TM) SRS product and to develop and commercialize
any successive product lines, that a substantial market exists for the
product, that the product will perform as expected, that the product
represents an improvement over current wound closure methods and that these
improvements could be beneficial to physicians and to patients. 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; 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 commercialization activities;
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 report to
differ materially from our actual results. These operating risks include; poor
performance of the product in the clinical setting; adverse events related to
the use of the product; improper estimation of the size of the wound closure
market; adverse results or unexpected delays in clinical development
processes; our ability to attract and retain qualified personnel; our ability
to successfully complete preclinical 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; our ability to continue to integrate into
our business the operations of American Medical Instruments Holdings, Inc. and
our ability to achieve the operational and other synergies and the other
commercial or financial benefits expected as a result of that acquisition; and
any other factors referenced in our annual information form and other filings
with the applicable Canadian securities regulatory authorities or the SEC.
Given these uncertainties, assumptions and risk factors, readers are
cautioned not to place undue reliance on such forward-looking statements. 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 prospectus to reflect future results, events or developments.
Quill(TM) is a trademark of Quill Medical, Inc., a wholly-owned
subsidiary of Angiotech Pharmaceuticals, Inc.
(C)2007 Angiotech Pharmaceuticals, Inc. All Rights Reserved.
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: Jodi Regts, Senior Manager, Investor Relations
and Corporate Communications, Angiotech Pharmaceuticals, Inc., (604) 221-7930,
email@example.com; Analysts and Investors: Deirdre Neary, Manager, Investor
Relations, Angiotech Pharmaceuticals, Inc., (604) 222-7056, firstname.lastname@example.org