Angiotech Acquires New Paclitaxel Technology for Alzheimer's Disease.

VANCOUVER, British Columbia--(BUSINESS WIRE)--Jan. 25, 1999-- Angiotech Pharmaceuticals, Inc. (TSE:ANP) announced that it has acquired an exclusive license from the University of Pennsylvania for intellectual property, including U.S. Patent No. 5,580,898 issued on Dec. 3, 1996, for the use of paclitaxel in the treatment of Alzheimer's disease.

Alzheimer's disease (AD) is a progressive, degenerative disease that affects the brain and results in dementia and progressive loss of cognitive function. In most cases, AD onset is between age 50 and 60, with incidence increasing with each decade thereafter. AD is the fourth leading cause of death in adults, after heart disease, cancer and stroke, affecting 4 million people in the U.S. alone. The estimated 1997 U.S. treatment market for AD is between $2 and $4 billion.

Paclitaxel, the world's most successful anti-cancer drug ($981 million in sales in 1997), is commonly used to treat breast and ovarian cancer. Studies have demonstrated that paclitaxel can prevent the formation of neurofibrillary tangles that are thought to be important in the development and progression of AD.

"This license further expands Angiotech's efforts using paclitaxel for neurodegenerative diseases. We are currently completing a 30-patient study examining the company's novel paclitaxel formulation in the treatment of multiple sclerosis. We are optimistic that this product could also be suitable for testing in patients with Alzheimer's disease," said William L. Hunter, MD, MSc, chairman and CEO of Angiotech.

Angiotech Pharmaceuticals, Inc. is a Canadian pharmaceutical company engaged in the development and commercialization of novel treatments for chronic inflammatory and angiogenesis-dependent diseases such as restenosis, rheumatoid arthritis, multiple sclerosis and psoriasis. The company's initial technologies are based on the reformulation of the anti-cancer drug, paclitaxel, into medical device coatings, systemic treatments and topical gels. Angiotech will continue to enter strategic alliances with pharmaceutical and device companies for development and commercialization of its pharmaceutical and interventional products.