Angiotech announces additional diameters of sutures to further expand its Quill(TM) SRS PDO product line
15 August 2007 - 10:05PM
PR Newswire (US)
VANCOUVER, Aug. 15 /PRNewswire-FirstCall/ -- Angiotech
Pharmaceuticals, Inc. (NASDAQ:ANPINASDAQ:TSX:NASDAQ:ANP), a global
specialty pharmaceutical and medical device company, today
announced that it has received clearance from the U.S. Food and
Drug Administration (FDA) to begin marketing additional diameters
of its Quill(TM) Self-Retaining System (SRS) Polydioxanone (PDO)
product line. The Quill(TM) SRS PDO is a longer-lasting absorbable
suture, which is typically used for deeper tissue closures.
Angiotech is now able to offer a broad range of PDO suture products
with diameters ranging from sizes 2 to 4-0. "We are pleased to be
able to market these new diameters of PDO sutures. As we have
indicated, we intend to continue to expand the Quill(TM) SRS
product line to cover multiple procedures for wound closure and
tissue approximation," added Dr. Hunter. Angiotech plans to exhibit
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 innovative Quill(TM) SRS represents the next
generation of wound closure technology. A patented helical barbed
design enables surgeons to suture without the use of knots. The
absence of knots provides a wide range of clinical and economic
benefits, including: Potential to improve patient outcomes: -
Minimizes complications associated with knots - Potential to
improve wound healing - May enhance cosmesis Potential to save time
in the operating room: - Achieves potentially significant time
savings, especially in suture intensive procedures Enhanced
procedural techniques: - Allows closure of difficult wounds -
Enables suturing in tight places - Allows the surgeon to control
tension 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. 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:ANPINASDAQ:TSX:NASDAQ:ANP), please visit our website at
http://www.angiotech.com/. CONTACT: Jodi Regts, Manager, Investor
Relations and Corporate Communications, Angiotech Pharmaceuticals,
Inc., (604) 221-7930, ; Analysts and Investors: Deirdre Neary,
Manager, Investor Relations and Corporate Communications, Angiotech
Pharmaceuticals, Inc., (604) 222-7056, DATASOURCE: Angiotech
Pharmaceuticals, Inc. CONTACT: Jodi Regts, Manager, Investor
Relations and Corporate Communications, Angiotech Pharmaceuticals,
Inc., (604) 221-7930, ; Analysts and Investors: Deirdre Neary,
Manager, Investor Relations and Corporate Communications, Angiotech
Pharmaceuticals, Inc., (604) 222-7056,
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