Hemo-Stream(TM) Chronic Dialysis Catheter Receives FDA Clearance

    VANCOUVER, Aug. 29 /CNW/ - Angiotech Pharmaceuticals, Inc. (NASDAQ:   ANPI,
TSX: ANP), a global specialty pharmaceutical and medical device company, today
announced that the U.S. Food and Drug Administration (FDA) has given clearance
to begin marketing the Hemo-Stream(TM) chronic dialysis catheter.
    The Hemo-Stream catheter, developed by Rex Medical, LP, is the first
chronic hemodialysis catheter specifically designed for over-the-wire
delivery. Its advantages include higher flow rates due to its triple lumen
design, reduced potential for air embolism or bleeding, decreased procedural
steps and time versus competition, and ease of catheter placement. Dialysis
catheters, such as Hemo-Stream, are used for short term vascular access to
provide hemodialysis patients with the dialysis they require.
    In April 2007, Angiotech entered into an agreement with Rex Medical
whereby Rex Medical granted Angiotech an exclusive license to market and
distribute the Hemo-Stream catheter worldwide.
    "The Hemo-Stream catheter is a great complement to the vascular graft
business we acquired from Edwards and our Vascular Wrap AV access trials which
are currently enrolling," said Dr. William Hunter, President and CEO of
Angiotech. "With over 500,000 End Stage Renal Disease patients in the U.S.,
Angiotech is focused on the development and commercialization of innovative
dialysis care products that improve the treatment options available to
hemodialysis patients and vascular surgeons."
    It is expected that Hemo-Stream catheters will be available for
commercial sale in the U.S. later this year.

    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.

    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 sale of the Hemo-Stream product, the ability of
Angiotech to commercialize the Hemo-Stream product and to develop and
commercialize any successive product lines, that a substantial market exists
for the product, and that the product will perform as expected. 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 market for the
product; 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; 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.

    Hemo-Stream(TM) is a trademark of Rex Medical, LP used under license by

    About Angiotech

    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: Deirdre Neary, Manager, Investor Relations and
Corporate Communications, Angiotech Pharmaceuticals, Inc., (604) 222-7056,

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