VANCOUVER, Aug. 15 /PRNewswire-FirstCall/ - Angiotech Pharmaceuticals,Inc. (NASDAQ: ANPI, TSX: ANP), a global specialty pharmaceutical and medicaldevice company, today announced that it has received clearance from the U.S.Food and Drug Administration (FDA) to begin marketing additional diameters ofits Quill(TM) Self-Retaining System (SRS) Polydioxanone (PDO) product line.
The Quill(TM) SRS PDO is a longer-lasting absorbable suture, which istypically used for deeper tissue closures. Angiotech is now able to offer abroad range of PDO suture products with diameters ranging from sizes 2 to 4-0.
"We are pleased to be able to market these new diameters of PDO sutures.As we have indicated, we intend to continue to expand the Quill(TM) SRSproduct line to cover multiple procedures for wound closure and tissueapproximation," added Dr. Hunter.
Angiotech plans to exhibit the Quill(TM) SRS product line at the AnnualMeeting of the American Society of Plastic Surgeons (ASPS) to be held onOctober 26-31, 2007 in Baltimore, MD.
About the Quill(TM) Self-Retaining System (SRS)
The innovative Quill(TM) SRS represents the next generation of woundclosure technology. A patented helical barbed design enables surgeons tosuture without the use of knots. The absence of knots provides a wide range ofclinical and economic benefits, including:
Statements contained in this press release that are not based onhistorical fact, including without limitation statements containing the words"believes," "may," "plans," "will," "estimate," "continue," "anticipates,""intends," "expects" and similar expressions, constitute "forward-lookingstatements" within the meaning of the U.S. Private Securities LitigationReform Act of 1995 and constitute "forward-looking information" within themeaning of applicable Canadian securities laws. All such statements are madepursuant to the "safe harbor" provisions of applicable securities legislation.Forward-looking statements in this release include but are not limited tostatements regarding; financial benefits to Angiotech that could potentiallybe realized from Angiotech's wound closure business, the ability of Angiotechto commercialize the Quill(TM) SRS product and to develop and commercializeany successive product lines, that a substantial market exists for theproduct, that the product will perform as expected, that the productrepresents an improvement over current wound closure methods and that theseimprovements could be beneficial to physicians and to patients. Suchforward-looking statements involve known and unknown risks, uncertainties andother factors that may cause the actual results, events or developments to bematerially different from any future results, events or developments expressedor implied by such forward-looking statements. Many such risks, uncertaintiesand other factors are taken into account as part of our assumptions underlyingthese forward-looking statements and include, among others, the following;general economic and business conditions, both nationally and in the regionsin which we operate; market demand; technological changes that could impactour existing products or our ability to develop and commercialize futureproducts; competition; existing governmental regulations and changes in, orthe failure to comply with, governmental regulations; decisions, and thetiming of decisions, made by health regulatory agencies regarding approval ofour technology and products; the requirement for substantial funding toconduct research and development and to expand commercialization activities;and any other factors that may affect performance. In addition, our businessis subject to certain operating risks that may cause the actual resultsexpressed or implied by the forward-looking statements in this report todiffer materially from our actual results. These operating risks include; poorperformance of the product in the c