VANCOUVER, May 3 /PRNewswire-FirstCall/ - Angiotech
Pharmaceuticals, Inc. (NASDAQ: ANPI, TSX: ANP), a specialty
pharmaceutical and medical device company, today announced that it
has entered into an exclusive distribution agreement with B. Braun
for its proprietary Quill(TM) SRS product line in the United Kingdom, Ireland, and France. The term of the distribution agreement
will be for five years.
According to The Royal College of
Surgeons of England, there
are approximately 4.2 million surgical operations carried out every
year in England alone. There are
more than 18,000 surgeons currently practicing in England in approximately 2,900 operating
theaters. According to market research, in France there are over 5 million surgical
procedures performed annually by more than 17,000 surgeons in
excess of 3,300 hospital facilities.
"We are very excited and proud to have one of the leading
companies in wound closure partner with Angiotech to facilitate the
continued acceptance of Quill(TM) SRS in these critical European
countries," said Dr. William Hunter,
President and CEO of Angiotech. "Having a leading company such as
B. Braun, with its long legacy of innovation and technology
leadership, join us as one of our European partners further
validates Quill(TM) SRS's market potential as a transformational
technology in the surgical market."
"We are very much looking forward to including the Quill(TM) SRS
knotless suturing system in our comprehensive Closure Technologies
portfolio and start redefining wound closure. Such innovative
barbed monofilament sutures fit very well with our global
monofilament sutures campaign, and we are convinced that it will be
a major breakthrough for our organization in these markets," said
Mr. Miguel Pablo, Vice President,
Marketing, Sales & Regulatory Affairs for the Closure
Technologies Unit in the B. Braun Group. "With this agreement, we
proudly strengthen our strategic partnership with Angiotech, a
leading company in innovative treatment solutions," added Mr.
Pablo.
B. Braun is one of the world's leading health care suppliers
with over (euro)4 billion in revenue in 2009 and over 39,000
employees worldwide. Its Aesculap division focuses on products and
services for core processes in surgery. Aesculap's product
portfolio includes, among other items, surgical instruments for
open or minimally invasive approaches, implants (including for
orthopedics, neurosurgery and spinal surgery), surgical sutures,
sterile containers, storage, motor and navigation systems, and
products for cardiology.
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," "estimates,"
"continues," "anticipates," "intends," "expects" and similar
expressions, constitute "forward-looking statements" within the
meaning of the 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 objectives and priorities
for the remainder of 2010 and beyond, our strategies or future
actions, our targets, expectations for our financial condition and
the results of, or outlook for, our operations, research and
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 known 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 in the United States, Canada and the other 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 legislation and
regulations and changes in, or the failure to comply with,
governmental legislation and regulations; availability of financial
reimbursement coverage from governmental and third-party payers for
products and related treatments; adverse results or unexpected
delays in pre-clinical and clinical product development processes;
adverse findings related to the safety and/or efficacy of our
products or products sold by our partners; 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
manufacturing and commercialization activities; and any other
factors that may affect our performance. In addition, our business
is subject to certain operating risks that may cause any results
expressed or implied by the forward-looking statements in this
press release to differ materially from our actual results. These
operating risks include: our ability to attract and retain
qualified personnel; our ability to successfully complete
pre-clinical and clinical development of our products; changes in
our 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 availability of
capital to finance our activities; our ability to restructure and
to service our debt obligations; and any other factors referenced
in our other filings with the applicable Canadian securities
regulatory authorities or the Securities and Exchange Commission
("SEC"). For a more thorough discussion of the risks associated
with our business, see the "Risk Factors" section in our annual
report for the year ended December 31,
2009 filed with the SEC on Form 10-K.
Given these uncertainties, assumptions and risk factors,
investors are cautioned not to place undue reliance on such
forward-looking statements. Except as required by law, 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.
(C)2010 Angiotech Pharmaceuticals, Inc. All Rights Reserved.
About the Quill(TM) Self-Retaining System (SRS)
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.
About Angiotech Pharmaceuticals
Angiotech Pharmaceuticals, Inc. is a global specialty
pharmaceutical and medical device company. 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: ANPI, TSX: ANP), please visit our website at
www.angiotech.com.
SOURCE Angiotech Pharmaceuticals, Inc.