Angiotech Pharmaceuticals and Genzyme Corporation Form Collaboration to Develop Innovative Surgical Oncology Treatments
09 Mai 2006 - 3:00PM
PR Newswire (US)
VANCOUVER, BC and CAMBRIDGE, MA, May 9 /PRNewswire-FirstCall/ --
Angiotech Pharmaceuticals, Inc. (NASDAQ:ANPINASDAQ:TSX:NASDAQ:ANP)
and Genzyme Corporation (NASDAQ:GENZ) today announced that they
have entered into a strategic collaboration agreement designed to
identify, develop and commercialize innovative therapies for cancer
patients undergoing surgical removal of tumors. Angiotech and
Genzyme will collaborate to create novel, localized treatments that
target the prevention of tumor re-growth after surgery through the
direct application of a combined biomaterial/anti-cancer
therapeutic at the site of tumor excision. Such products may also
be useful in treating inoperable tumors, reducing local tumor
side-effects, and improving surgical outcomes while complementing
existing systemic therapies. "We are excited to announce this
partnership with one of the world's recognized leaders in
biopharmaceutical and biosurgery research and product development,"
said Dr. Bill Hunter, President and CEO of Angiotech
Pharmaceuticals. "We believe Genzyme's specific expertise in
oncology and surgical biomaterials, combined with our own expertise
in drug-loaded surgical implants and medical devices, provides the
resources and critical mass to accelerate our tumor resection
program and develop new cancer therapies," added Dr. Hunter. "The
possibility of augmenting current treatment strategies by adding a
tumor-direct, non-systemic approach is of great interest to
Genzyme," stated Duke Collier, Executive Vice President of Genzyme.
"This collaboration expands our oncology program, underscores our
commitment to our biomaterials platform, which includes several
marketed products, and may provide an important new treatment
option for patients." Terms of the Collaboration
-------------------------- Under the collaboration agreement,
Angiotech and Genzyme will contribute their respective expertise in
drug screening and development, cell biology, biomaterials and
oncology - along with their respective clinical and commercial
infrastructures - to develop products for surgical oncologists and
their patients. The companies will conduct research jointly, with
each contributing key personnel, technology and intellectual
property. Genzyme will have primary responsibility for clinical
development, manufacturing and worldwide commercialization of any
collaboration products. Angiotech will participate in the
development of products and will have a co-marketing option.
Collaboration costs and any eventual profits will be shared
equally. About Cancer Surgery -------------------- According to the
current World Health Organization (WHO) world cancer report, cancer
continues to be the second most important cause of death in
developed countries, killing 23% of their population. Surgery is
the principal initial treatment option for most cancer patients who
are diagnosed with a localized tumor prior to metastatic spread.
According to a recent article in the American Association of Cancer
Research Journal, local re-growth of a tumor at the resection site
is a common problem after surgery, and occurs in up to 50% of
patients. Duke Collier, Executive Vice President of Genzyme, will
be a guest speaker during Angiotech's quarterly earnings update
today - May 9, 2006 - at 11:00 AM (EDT). A live webcast will be
available to all interested parties through Angiotech's website at
http://www.angiotech.com/ under the Investor Relations section.
About Angiotech Pharmaceuticals -------------------------------
Founded in 1992 Angiotech Pharmaceuticals, Inc. is a global
specialty pharmaceutical and medical device company, with 14
facilities in 6 countries and over 1,500 dedicated employees, that
discovers, develops and markets innovative, minimally invasive
treatment solutions for diseases or complications associated with
medical device implants, surgical interventions and acute injury.
To find out more about Angiotech Pharmaceuticals, Inc.
(NASDAQ:ANPINASDAQ:TSX:NASDAQ:ANP), please visit our website at
http://www.angiotech.com/. About Genzyme Corporation
------------------------- One of the world's leading biotechnology
companies, Genzyme is dedicated to making a major positive impact
on the lives of people with serious diseases. This year marks the
25th anniversary of Genzyme's founding. Since 1981, the company has
grown from a small start-up to a diversified enterprise with more
than 8,000 employees in locations spanning the globe and 2005
revenues of $2.7 billion. Genzyme has been selected by FORTUNE as
one of the "100 Best Companies to Work for" in the United States.
With many established products and services helping patients in
more than 80 countries, Genzyme is a leader in the effort to
develop and apply the most advanced technologies in the life
sciences. The company's products and services are focused on rare
inherited disorders, kidney disease, orthopaedics, cancer,
transplant and immune diseases, and diagnostic testing. Genzyme's
commitment to innovation continues today with a substantial
development program focused on these fields, as well as heart
disease and other areas of unmet medical need. For more
information, visit http://www.genzyme.com/. Genzyme(R) is a
registered trademark of Genzyme Corporation. Angiotech(R) is a
registered trademark of Angiotech Pharmaceuticals, Inc. All rights
reserved. Genzyme Corporation: This press release contains
forward-looking statements, including the statements regarding: a
potential treatment of cancer and the identification, design and
approval of products; funding under the collaboration agreement;
and estimates concerning the tumor resection patient population.
These statements are subject to risks and uncertainties that could
cause actual results to differ materially from those projected in
these forward-looking statements. These risks and uncertainties
include, among others, the timing of and safety and efficacy
results from clinical trials and decisions made by the companies
based on these results; the ability to manufacture sufficient
quantities of product for development and commercialization
activities and to do so in a timely and cost efficient manner;
decisions by regulatory authorities related to the development and
commercialization of a potential therapy; the competitive
environment for cancer therapies; the accuracy of the companies'
information concerning the tumor resection patient population; and
the risks and uncertainties described in reports filed by Genzyme
with the Securities and Exchange Commission. Please see the
disclosure under the heading "Factors Affecting Future Operating
Results" in the Management's Discussion and Analysis of Financial
Condition and Results of Operations section of Genzyme's Annual
Report on Form 10-K for the year ended December 31, 2005 for a more
complete discussion of these and other risks and uncertainties.
Genzyme cautions investors not to place substantial reliance on the
forward-looking statements contained in this press release. These
statements speak only as of the date of this press release, and
Genzyme undertakes no obligation to update or revise the
statements. Angiotech Pharmaceuticals: Statements contained in this
press release or in our other written or oral public communications
that are not based on historical or current 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. Such
forward-looking statements are based on assumptions that 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. Forward-looking
statements in this release include the statements regarding: the
potential of the collaboration to identify, design and develop new
treatment products or therapies for certain types of cancer; other
potential uses for these treatment products; the potential
acceleration of Angiotech's tumor resection program as a result of
the collaboration; the ability to obtain regulatory approval to
develop and commercialize new products or therapies; and the
accuracy of information concerning the tumor resection patient
population. These statements are subject to risks and uncertainties
that could cause actual results to differ materially from those
projected. These risks and uncertainties include, among others, the
timing of and safety and efficacy results from clinical trials and
decisions made by the companies based on these results; the ability
to manufacture sufficient quantities of product for development and
commercialization activities and to do so in a timely and cost
efficient manner; decisions by regulatory authorities related to
the development and commercialization of a potential therapy; the
competitive environment for cancer therapies; the availability of
resources and funding; the accuracy of the information concerning
the tumor resection patient population; and the risks and
uncertainties described in Angiotech's filings with the United
States Securities and Exchange Commission or the Canadian
securities regulators. The forward looking statements are also
based on a number of assumptions, including that it is possible to
treat the conditions described in the manner contemplated; that any
products or therapies identified and developed by the collaboration
will be able to obtain regulatory approval; that funding and
resources will be contributed by the parties to the collaboration;
and that there will be a market for any products or therapies
successfully developed by the collaboration. Given these
uncertainties, readers are cautioned not to place undue reliance on
such forward-looking statements. The Company does not assume the
obligation to update any forward-looking statements. FOR ADDITIONAL
INFORMATION: --------------------------- Analysts and Investors:
Janet Craig VP, Investor Relations and Corporate Communications
Angiotech Pharmaceuticals, Inc. (604) 221-6933 Sally Curley VP,
Investor Relations Genzyme Corporation (617) 768-6140 Media: Jodi
Regts Manager, Corporate Communications (604) 221-7930 Maria Cantor
Dir. Corporate Communications (617) 768-6690 DATASOURCE: Angiotech
Pharmaceuticals, Inc. CONTACT: Analysts and Investors: Janet Craig,
VP, Investor Relations and Corporate Communications, Angiotech
Pharmaceuticals, Inc., (604) 221-6933; Sally Curley, VP, Investor
Relations, Genzyme Corporation, (617) 768-6140; Media: Jodi Regts,
Manager, Corporate Communications, (604) 221-7930, ; Maria Cantor,
Dir. Corporate Communications, (617) 768-6690,
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