Angiotech Completes Enrollment for Phase 2 Clinical Study in Multiple Sclerosis.

Business Editors

VANCOUVER, B.C.--(BUSINESS WIRE)--March 1, 2001

Angiotech (NASDAQ:ANPI)(TSE:ANP.)

Angiotech Pharmaceuticals, Inc. (NASDAQ:ANPI)(TSE:ANP.) announced today that it has completed enrollment of its 189-patient, Phase 2 clinical study for the use of Micellar Paclitaxel in the treatment of patients with secondary progressive multiple sclerosis (SPMS).

To date, there have been no drug-related serious adverse events reported in the patients enrolled in the nine-month study.

The double-blind, placebo-controlled study is being conducted at nine centers across Canada. The primary objective of the study is to determine the difference in new lesion activity in the Micellar Paclitaxel treatment groups relative to the control group during the treatment phase as demonstrated by magnetic resonance imaging (MRI). Patients are receiving placebo or Micellar Paclitaxel at 50 mg/m2 or 75 mg/m2 every four weeks for a total of six doses (with a 12-week follow-up period).

"This major milestone has been completed in a timely manner and we are very proud of this accomplishment. We are hopeful that our Micellar Paclitaxel therapy will improve the quality of life for a group of patients with few treatment options," said Donald E. Longenecker, PhD, Angiotech's President and COO.

Multiple sclerosis is a chronic inflammatory and progressive disease, with debilitating neurological symptoms occurring over a period of several years. Although the disease does not result in early death, it disables patients by disturbing vision, strength, balance and sensation, as well as causing fatigue and cognitive problems. The estimated 2000 U.S. treatment market for all MS patients is US$704 million.

Angiotech Pharmaceuticals, Inc. is a Canadian pharmaceutical company dedicated to the development of medical device coatings and treatments for chronic inflammatory diseases through reformulation of the anticancer drug, paclitaxel. Four pharmaceutical therapies are in clinical development: systemic Micellar Paclitaxel for secondary progressive multiple sclerosis (Phase 2), rheumatoid arthritis (Phase 1) and severe psoriasis, and Topical Paclitaxel Gel for psoriasis (Phase 1). The paclitaxel-coated coronary stent program has also entered human safety studies. Other medical device programs include paclitaxel-loaded surgical implants for the treatment of restenosis associated with peripheral vascular surgery and for the treatment of proliferative ocular conditions.

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