Angiotech Pharmaceuticals, Inc. announces License Agreement with Baxter International.Angiotech Pharmaceuticals Angiotech TSX: ANP is a Vancouver, British Columbia pharmaceutical company. Its products enhance the performance of medical devices and biomaterials through the use of pharmacotherapeutics. , Inc. (Vancouver, Canada) has completed an Amended and Restated Distribution and License Agreement with its partner Baxter International Baxter International Inc. (NYSE: BAX), is a global healthcare company with 48,000 employees and 2006 sales of US$10.4 billion. Its headquarters is in Deerfield, Illinois. , Inc. (Deerfield, IL). As consideration for the Amended and Restated Distribution and License Agreement, Angiotech will receive $25 million. Angiotech and Baxter initially entered into a Distribution and License Agreement in 2003 relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc certain intellectual property for Angiotech's COSEAL surgical sealant Sealant A thin plastic substance that is painted over teeth as an anti-cavity measure to seal out food particles and acids produced by bacteria. Mentioned in: Tooth Decay sealant see bone sealant. . The Distribution and License Agreement entitled en·ti·tle tr.v. en·ti·tled, en·ti·tling, en·ti·tles 1. To give a name or title to. 2. To furnish with a right or claim to something: Baxter to market and sell COSEAL worldwide (excluding Japan), from which Angiotech has derived royalty revenue from Baxter. The Distribution and License Agreement also gave Baxter an option for distribution rights in Japan. As a result of this transaction, Baxter will obtain worldwide rights to COSEAL and certain additional fields of use for COSEAL, and expanded worldwide rights to COSEAL derivatives. Baxter will owe no further royalty or milestone obligations to Angiotech relating to the existing formulation formulation /for·mu·la·tion/ (for?mu-la´shun) the act or product of formulating. American Law Institute Formulation of COSEAL or any future products under the terms of the Amended and Restated Distribution and License Agreement. Angiotech is a global specialty pharmaceutical and medical device company with over 1,500 dedicated employees. Angiotech discovers, develops and markets innovative treatment solutions for diseases or complications associated with medical device implants, surgical interventions and acute injury. Angiotech Pharmaceuticals, Inc. +1-415-293-4412- www.angiotech.com |
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