Angiotech receives European approval to market innovative Contour Threads(TM) product line
24 August 2006 - 3:00PM
PR Newswire (US)
VANCOUVER, Aug. 24 /PRNewswire-FirstCall/ -- Angiotech
Pharmaceuticals, Inc. (NASDAQ:ANPINASDAQ:TSX:NASDAQ:ANP) today
announced that it has received CE Mark approval to expand the use
for its Contour Threads(TM) product line, encompassing aesthetic as
well as plastic and reconstructive surgical procedures. Having
already been approved for use in brow, neck and mid-face lift
procedures, Angiotech is currently marketing the product for facial
procedures through distribution agreements in the EU. Angiotech now
has the ability to also market its product line in Europe for
breast lift and nipple repositioning procedures. "The Contour
Threads product is a key part of Angiotech's aesthetic franchise,
and we believe that Europe is going to be a great area of
opportunity for this business," said Dr. William Hunter, President
and Chief Executive Officer of Angiotech. "With this market
expected to grow over the next five years due to more favourable
attitudes towards aesthetic enhancement and augmentation in Europe,
we believe we will see strong momentum for minimally invasive
procedures like those using Contour Threads products." The global
market for aesthetics procedures generated over $15 billion in 2004
and is growing, according to a study by Medical Insight, Inc.
Angiotech believes that facelift-type procedures performed with
Contour Threads products could increase the aesthetic procedure
market by offering a cost-effective, minimally invasive alternative
to the traditional facelift procedure. Doctors and patients alike
are interested in the innovative procedure that can be performed in
a doctor's office with no general anaesthesia and very little "down
time" for patients. A procedure performed with the Contour Threads
product is an increasingly attractive option for people looking for
a refreshed, but not extreme, change that gives them subtle and
natural-looking results. In addition, Angiotech is working with
plastic surgeons to explore the use of the Contour Threads product
line in traditional facelifts. The patented technology of the
Contour Threads product line enables surgical sutures to
self-anchor and suspend sagging tissue without the need for suture
knots. Angiotech plans to develop other potential indications of
the Contour Threads product line for minimally invasive aesthetic
procedures, such as breast lifts and other body contouring
indications. The Contour Threads product line allows Angiotech the
opportunity to expand this market to include those patients who may
desire aesthetic changes but are unwilling to have more invasive
procedures, such as implant surgery. It is anticipated that the
same technology used in the Contour Threads product will be adapted
for general wound closure in orthopaedic, cosmetic, vascular, and
endoscopic surgery. Eliminating knot-tying saves time, minimizes
the risk of infection, and reduces wound leakage. To learn more
about the Contour Threads product, please visit:
http://www.contourthreads.com/ About Angiotech Pharmaceuticals
Angiotech Pharmaceuticals, Inc. is a global specialty
pharmaceutical and medical device company with 14 facilities in 6
countries and 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
Pharmaceuticals, Inc. (NASDAQ:ANPINASDAQ:TSX:NASDAQ:ANP), please
visit our website at http://www.angiotech.com/. Note on Forward
Looking Statement: 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; any potential financial benefits to Angiotech
to be realized from the Contour Threads product line, the ability
of Angiotech to find other potential uses for the Contour Threads
product line, the ability to develop and commercialize any new
products, and the accuracy of information concerning the size of
the global aesthetic procedures market. These statements are also
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
Angiotech based on these results, the ability to obtain regulatory
approval to develop and commercialize new products, 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 potential products, the
competitive environment for such products, the availability of
resources and funding, and the risks and uncertainties associated
with the business and 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 other uses for
the Contour Threads product line exist, that any products or
therapies identified and developed by Angiotech will be able to
obtain regulatory approval, that funding and resources for research
and development will be available, and that there will be a market
for any products successfully developed by Angiotech. 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. Angiotech(R)
and Contour Threads(TM) are trademarks of Angiotech
Pharmaceuticals, Inc. and its subsidiaries. All rights reserved.
CONTACT: Jodi Regts, Manager, Investor Relations and Corporate
Communications, Angiotech Pharmaceuticals, Inc., (604) 221-7930,
DATASOURCE: Angiotech Pharmaceuticals, Inc. CONTACT: Jodi Regts,
Manager, Investor Relations and Corporate Communications, Angiotech
Pharmaceuticals, Inc., (604) 221-7930,
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