Angiotech Grants Option to W.L. Gore & Associates, Inc.VANCOUVER, British Columbia--(BUSINESS WIRE)--March 24, 1998--Angiotech Pharmaceut(TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :ANP ANP atrial natriuretic peptide. ANP atrial natriuretic peptide. ANP Atrial natriuretic peptide, see there .) Angiotech Pharmaceuticals, Inc. (TSE:ANP) announced today that it has granted a two year option for an undisclosed amount to W.L. Gore & Associates, Inc. ("Gore") to obtain a non-exclusive license to Angiotech's technology for delivering drugs to the outer surface of blood vessels Blood vessels Tubular channels for blood transport, of which there are three principal types: arteries, capillaries, and veins. Only the larger arteries and veins in the body bear distinct names. (perivascular perivascular /peri·vas·cu·lar/ (-vas´ku-lar) near or around a vessel. perivascular around a vessel. perivascular cellulitis drug delivery). Gore is presently conducting research on proprietary applications of this technology. Gore-Tex(R) vascular grafts are the world's most widely used synthetic grafts for restoration of blood flow to limbs (bypass surgery Bypass surgery A surgical procedure that grafts blood vessels onto arteries to reroute the blood flow around blockages in the arteries (arteriosclerosis). ) and to establish access for hemodialysis (kidney failure kidney failure or renal failure Partial or complete loss of kidney function. Acute failure causes reduced urine output and blood chemical imbalance, including uremia. Most patients recover within six weeks. patients require repeated intravenous access). Although highly successful, long-term failure of vascular grafts is often caused by tissue overgrowth overgrowth Rapid growth in the sales of a mutual fund's shares to the extent that the fund has difficulty finding promising new investments or it must take such large positions in individual investments that its trading flexibility is reduced. of the vessels to which the grafts are connected. For example, each year over 50 percent of hemodialysis patients with synthetic vascular access grafts (greater than 120,000 patients in the U.S.) will require reintervention to eliminate an obstruction. Angiotech and Dr. Elazer Edelman of Harvard University (who pioneered this approach) have demonstrated in animal models that perivascular application of antiproliferative agents can prevent tissue overgrowth leading to blood vessel narrowing. Perivascular drug delivery vehicles applied by vascular surgeons during graft insertion may be used to enhance bypass and hemodialysis access procedures. "This expands our Company's commitment to local therapeutic approaches for the management of vascular disease into surgical applications," stated William L. Hunter, MD, Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Angiotech. "We are pleased to be associated with Gore, the world's leading vascular graft company, in their efforts to improve care for patients requiring vascular grafts." Privately held, W.L. Gore & Associates, Inc.'s achievements in medical engineering and manufacturing are driven by an energetic commitment to improving the quality of life in partnership with health care professionals. 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 rheumatoid arthritis, restenosis, cancer, multiple sclerosis and psoriasis. "Gore-Tex" is a registered trademark of W.L. Gore & Associates, Inc. CONTACT: Angiotech Pharmaceuticals Inc. Cathryn E. Bowden, 604/221-7676 http://www.angiotech.com e-mail: info@angio.com or Russell-Welsh, Inc. Angela Bidding, 650/312-0700, ext. 15 Media Contact |
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