Angiotech Receives CE Mark Approval of Quill(TM) SRS MONODERM(TM), a New Rapidly Resorbing Suture Product Line
11 Oktober 2007 - 10:15PM
PR Newswire (US)
VANCOUVER, Oct. 11 /PRNewswire-FirstCall/ -- Angiotech
Pharmaceuticals, Inc. (NASDAQ:ANPINASDAQ:TSX:NASDAQ: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 United States. "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 for Angiotech. "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. Dennis. 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. 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, Senior Manager,
Investor Relations and Corporate Communications, Angiotech
Pharmaceuticals, Inc., (604) 221-7930, ; Analysts and Investors:
Deirdre Neary, Manager, Investor Relations, Angiotech
Pharmaceuticals, Inc., (604) 222-7056, DATASOURCE: Angiotech
Pharmaceuticals, Inc. CONTACT: Jodi Regts, Senior Manager, Investor
Relations and Corporate Communications, Angiotech Pharmaceuticals,
Inc., (604) 221-7930, ; Analysts and Investors: Deirdre Neary,
Manager, Investor Relations, Angiotech Pharmaceuticals, Inc., (604)
222-7056,
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