Angiotech Pharmaceuticals, Inc.: Boston Scientific To Provide Additional Information To FDA In Support Of Its TAXUS IV IDE Application.

Business Editors

VANCOUVER, B.C.--(BUSINESS WIRE)--Dec. 7, 2001

Angiotech Pharmaceuticals (NASDAQ:ANPI) (TSE:ANP.) was notified today by Boston Scientific Corporation ("BSC") that BSC will provide additional information requested by the U.S. Food and Drug Administration (FDA) in support of BSC's application for an Investigational Device Exemption (IDE) for the TAXUS IV clinical trial, the fourth in a series of studies designed to collect clinical information on BSC's proprietary paclitaxel-eluting stent technology for reducing coronary restenosis.

The TAXUS IV IDE application was submitted by BSC on October 25th, and earlier this week BSC met with the FDA to discuss questions related to the application and a request for additional information. BSC will provide the FDA with the information this month.

"While we don't want to speculate on when FDA might approve the IDE, we are confident that we can address their questions, and we look forward to initiating this important trial," said Jim Tobin, President and Chief Executive Officer of Boston Scientific. "We're enthusiastic about bringing the TAXUS program to the United States and building on the success it has enjoyed in Europe."

In September, BSC reported zero restenosis and zero thrombosis for their TAXUS I trial. BSC also completed enrollment of its TAXUS II slow-release cohort in October, and the moderate-release cohort is expected to be fully enrolled next month. BSC also states that six-month follow-up data on each cohort is expected in mid-2002. TAXUS III completed enrollment in July, and six-month data will be presented at the March meeting of the American College of Cardiology.

BSC has acquired worldwide co-exclusive rights from Angiotech to use paclitaxel to coat its coronary stent products and other vascular and non-vascular products. Boston Scientific is a worldwide developer, manufacturer and marketer of medical devices whose products are used in a broad range of interventional medical specialties.

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. Several pharmaceutical therapies are in clinical development: systemic Micellar Paclitaxel (PAXCEED(TM)) for secondary progressive multiple sclerosis (Phase 2), rheumatoid arthritis (Phase 1) and severe psoriasis (Pilot Phase 2). The paclitaxel-coated coronary stent program is currently in international clinical safety and efficacy studies. Other medical device programs include paclitaxel-loaded surgical implants for the treatment of restenosis associated with peripheral vascular surgery.

1 PAXCEED is a trademark of Angiotech Pharmaceuticals, Inc.

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