Angiotech announces completion of Bio-Seal(TM) clinical trial enrolment
03 Juni 2008 - 6:30PM
PR Newswire (US)
VANCOUVER, June 3 /PRNewswire-FirstCall/ -- Angiotech
Pharmaceuticals, Inc. (NASDAQ:ANPINASDAQ:TSX:NASDAQ:ANP), a global
specialty pharmaceutical and medical device company, today
announced the completion of U.S. clinical trial enrolment for its
novel Bio-Seal lung biopsy track plug. "Our proprietary Bio-Seal
product represents a potentially significant improvement in the
technology used to diagnose lung cancer," said Dr. William Hunter,
President and CEO of Angiotech. "We look forward to a review of the
clinical trial data and are hopeful that the data will demonstrate
a considerable reduction in the side effects related to lung biopsy
procedures." Bio-Seal is a novel technology designed to reduce the
incidence of post-operative pneumothorax (collapsed lung) in
patients who undergo lung biopsy procedures. The technology
involves the placement of an expanding hydrogel plug along the
biopsy needle track during the procedure, closing off the track to
subsequent influx of air into the chest during respiration after
the biopsy needle is withdrawn. The seal is airtight and the plug
is absorbed into the body after healing of the puncture site has
occurred The primary endpoint of the Bio-Seal study is a reduction
in the incidence of pneumothorax in patients undergoing lung biopsy
procedures when compared with patients who do not receive the
Bio-Seal product. The product has already received CE Mark approval
and is available for commercial sale in the EU. 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 may involve, but are not limited to,
comments with respect to our strategies or future actions, our
targets, expectations for our financial condition and the results
of, or outlook for, our operations, research development and
product and drug development. 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; adverse
results or unexpected delays in drug discovery and clinical
development processes; 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, to expand commercialization activities or
consummate acquisitions or to service or repay debt obligations;
the accuracy of our estimations of the size of the market, and the
potential market, for our products in specific disease areas; sales
numbers and future guidance publicly provided by Boston Scientific
Corporation regarding sales of their paclitaxel-eluting coronary
stent products; 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: 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 ability of Boston
Scientific Corporation to successfully manufacture, market and sell
their paclitaxel-eluting coronary stent products; the continued
availability of capital to finance our activities; our ability to
achieve the financial benefits expected as a result of the
acquisition of American Medical Instruments Holdings, Inc.; and any
other factors referenced in our annual information form and other
filings with the applicable Canadian securities regulatory
authorities or the Securities and Exchange Commission. 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 press release to reflect future
results, events or developments. Bio-Seal(TM) is a trademark 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: Deirdre Neary, Manager,
Investor Relations and Corporate Communications, Angiotech
Pharmaceuticals, Inc., (604) 222-7056, DATASOURCE: Angiotech
Pharmaceuticals, Inc. CONTACT: Deirdre Neary, Manager, Investor
Relations and Corporate Communications, Angiotech Pharmaceuticals,
Inc., (604) 222-7056,
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