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Join date : 2007-12-09
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PostSubject: Angiotech and Rex Medical .   Tue Mar 18, 2008 5:41 pm

Angiotech and Rex Medical announce exclusive licensing and distribution agreement for the "Option(TM)" inferior vena cava filter


- Angiotech Pharmaceuticals, Inc. (NASDAQ:
ANPI, TSX: ANP) announced today that it has entered into a definitive
licensing agreement with privately held Rex Medical, LP ("Rex Medical") for
exclusive worldwide rights to market and distribute the Option(TM) inferior
vena cava (IVC) filter, a medical device that is implanted into the body's
inferior vena cava to prevent pulmonary embolism (PE).
According to industry research, the U.S. market for IVC filters in 2007
was approximately $200 million with retrievable filters accounting for
approximately two-thirds of this market. The Option(TM) IVC filter, developed
by Rex Medical, is an IVC filter specifically designed for long-term retrieval
post device implantation and is expected to be approved for both permanent and
retrievable indications.
Angiotech and Rex Medical will be exhibiting at the 33rd Annual Meeting
of the Society of Interventional Radiology (SIR) to be held in Washington, DC
from March 15-18, 2008.
"With product offerings such as the Option(TM) IVC filter and our
EnSnare(TM) retrieval device, we are continuing our commitment to offer
industry-leading technologies to service the needs of our interventional and
endovascular call points. We believe that the Option(TM) IVC filter is a
cornerstone technology for our Interventional business and a 'best-in-class'
product that will be significantly differentiated in the marketplace," said
Dr. William Hunter, President and CEO of Angiotech.
"We are pleased to have entered into this commercial partnership with
Angiotech for the Option(TM) IVC filter in such a critical market for the
interventional community. We believe that the Option(TM) IVC filter is a
superior IVC filter and will significantly improve the clinical management of
pulmonary emboli in patients. Clinical data from our international clinical
study has shown that the Option(TM) IVC filter can be successfully retrieved
in patients for longer than one year. The development of the Option(TM) filter
further exemplifies Rex Medical's commitment to the delivery of
ground-breaking medical devices for the interventional community," said Dr.
James F. McGuckin, Co-Founder of Rex Medical.
Rex Medical expects to complete enrolment of its U.S. clinical study for
the Option(TM) IVC filter in the treatment of PE by the end of Q2 2008. Rex
Medical anticipates that the filing for 510(k) approval with the FDA for the
Option(TM) IVC filter will be completed in the near term. Rex Medical has
filed for the CE Mark for the Option(TM) IVC filter and is awaiting approval
from the European regulatory bodies. Pending regulatory approval, it is
expected that the Option(TM) IVC Filter will be available for commercial sale
through Angiotech's Interventional sales force in the U.S. and in the EU by
the end of 2008.
"As the Lead Investigator on the Option(TM) IVC Filter clinical trial, I
am impressed with the low profile (6Fr OD) delivery system and novel nitinol
design. Results to date suggest that it prevents PE as well as any
commercially available filter. And despite its remarkable stability, the
Option(TM) has been safely and successfully retrieved at long intervals - up
to 175 days in the U.S. IDE," said Dr. Matthew S. Johnson, MD, Professor of
Radiology and Surgery at Indiana University School of Medicine/Chief, Vascular
and Interventional Radiology, Clarion Health Partners.
Financial terms of the agreement were not disclosed.

About the Option(TM) Inferior Vena Cava Filter

The nitinol, Option(TM) IVC Filter, with a low profile 5Fr (6Fr O.D.)
delivery system, is designed to be implanted into the inferior vena cava of
patients to prevent recurrent PE. The filter is designed with symmetric flared
struts to direct clot volume into the center of the vessel for maximum
dissolution and preservation of blood flow allowing for capture of clinically
significant clot and protection against PE. Designed as both a permanent or
retrievable IVC filter, the self-centering filter promotes optimal positioning
and stability within the inferior vena cava. Its intuitive, easy-to-use design
makes the Option(TM) IVC filters' deployment and retrieval both safe and

About Pulmonary Embolism (PE)

PE is an extremely common and highly lethal condition that is a leading
cause of death in all age groups. PE is the sudden blocking of an artery of
the lung (pulmonary artery) by a collection of solid material brought through
the bloodstream (embolus) - usually a blood clot (thrombus) or rarely other
foreign material. PE occurs when these clots break loose and embolize to block
pulmonary blood vessels in the lungs. PE affects an estimated 600,000 to
1,000,000 people in the US, and its incidence is increasing annually due
mainly to the aging population. According to clinical research, if left
untreated, PE has a mortality rate of 30% and is a leading cause of in-patient
deaths in U.S. hospitals. Emboli dislodgement can be caused by peripheral
vascular disease (PVD), severe deep vein thrombosis (DVT), trauma and,
prolonged immobilization often following major surgical procedures.

About Angiotech

Angiotech Pharmaceuticals, Inc. is a global specialty pharmaceutical and
medical device company with over 1,600 dedicated employees in 18 different
countries. 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

About Rex Medical, LP

Rex Medical, LP, based in Conshohocken, PA, is a privately held medical
device company specializing in the development, manufacturing and marketing of
minimally invasive medical devices targeted towards the cardiovascular, venous
access, endosurgery and oncology markets.


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 and to expand commercialization activities or
consummate acquisitions; 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. ("AMI"); 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 press release to
reflect future results, events or developments.

(TM) Option is a trademark of Rex Medical, LP, used under license by
Angiotech. EnSnare is a trademark of Angiotech.

For further information: Angiotech Contact: Deirdre Neary, Angiotech
Pharmaceuticals, Inc., (604) 222-7056,
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