Angiotech Initiates Intravenous Treatment for Severe Psoriasis.

Business and Health Editors

VANCOUVER, B.C.--(BUSINESS WIRE)--Nov. 20, 2000

Angiotech Pharmaceuticals, Inc. (Nasdaq:ANPI)(TSE:ANP.) today announced that is has initiated a Pilot Phase 2 clinical study to assess the pharmacological activity of systemic (intravenous) Micellar Paclitaxel in patients with severe psoriasis.

Up to 13 patients will be enrolled into this study being conducted by Andrew Blauvelt, MD, at the National Cancer Institute, Bethesda, MD.

Psoriasis is a common, chronic, hyperproliferative, inflammatory disease of the skin that affects up to 3% of the population. Typically, patients present with a limited number of erythematous, scaly, well-demarcated plaques, and are treated with topical medication. Extensive body surface coverage with plaques, erythrodermic psoriasis, and pustular psoriasis represent less common and severe forms of psoriasis. For patients with severe psoriasis, immunomodulating systemic therapies are often employed in treatment.

Angiotech has demonstrated that paclitaxel, the world's best selling anticancer drug, inhibits several key pathological processes involved in psoriasis. In particular, paclitaxel inhibits abnormal skin cell growth while being non-toxic to healthy cells. Paclitaxel is also a potent inhibitor of inflammatory cell response and angiogenesis, processes involved in the progression of psoriasis.

"Patients with severe psoriasis have considerable pain and discomfort associated with their disease," said William L. Hunter, MD, MSc, Chairman and CEO of Angiotech. "Since patients with severe psoriasis typically have greater than 20% of their skin surface manifested with disease, it can be difficult to treat this patient population with topical medications. Therefore, systemic treatments are a more reasonable therapeutic approach."

Patients enrolled in this study will receive monthly infusions of 75 mg/m2 of systemic Micellar Paclitaxel for six months. Patients with severe psoriasis that have failed at least two previous systemic psoriasis therapies will be eligible for the study. The study will initially enroll six patients and if at least 1/3 of the patients have a clinical response [50% decrease in Psoriasis Area Severity Index (PASI) score], accrual will continue until a total of 13 evaluable patients have been enrolled.

At present, there is no cure for psoriasis. Poor remission rates and/or potentially serious side effects characterize current treatments. The overall cost of treating psoriasis in the U.S. is estimated at between $3 to $5 billion per year, making the disease a major health care problem.

Earlier this year, Angiotech announced the results of two Phase 1 clinical studies of its Topical Paclitaxel Gel formulation for the treatment of psoriasis. The clinical studies were designed to determine safety and tolerability of the drug applied topically in a small number of patients (20 patients per study). In both studies, the Topical Paclitaxel Gel was safe and well-tolerated. The company will seek to partner with a dermatological company to develop the program further.

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. Three pharmaceutical therapies are in clinical development: systemic Micellar Paclitaxel for secondary progressive multiple sclerosis (Phase 2), systemic Micellar Paclitaxel for rheumatoid arthritis (Phase 1) and Topical Paclitaxel Gel for psoriasis (Phase 1). The paclitaxel-coated coronary stent program also entered human 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.

Statements contained herein that are not based on historical fact, including without limitation statements containing the words "believes," "may," "will," "estimate," "continue," "anticipates," "intends," "expects" and words of similar import, constitute "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. 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. Such factors include, among others, the following: general economic and business conditions, both nationally and in the regions in which the Company operates; technology changes; competition; changes in business strategy or development plans; the ability to attract and retain qualified personnel; existing governmental regulations and changes in, or the failure to comply with, governmental regulations; liability and other claims asserted against the Company; and other factors referenced in the Company's filings with the Securities and Exchange Commission. Given these uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. The Company disclaims any obligation to update any such factors or to publicly announce the result of any revisions to any of the forward-looking statements contained herein to reflect future results, events or developments.