VANCOUVER, May 1 /PRNewswire-FirstCall/ - Angiotech Pharmaceuticals, Inc. (NASDAQ: ANPI, TSX: ANP), a global specialty pharmaceutical and medical device company, today announced that it has received 510(k) clearance from the U.S. Food and Drug Administration (FDA) to begin marketing sizes 3-0 and 4-0 of its Quill Self-Retaining System (SRS) Polydioxanone (PDO) product line. The Quill SRS PDO is a longer-lasting absorbable suture, which is typically used for deeper tissue closures. These smaller diameter sizes incorporate a new design for better holding strength and expand the number and scope of procedures that can be done with the Quill SRS product.
"We are pleased to receive 510(k) approval for these new smaller diameter sizes. We intend to continue to broaden our Quill SRS product offering to cover multiple procedures for wound closure and tissue approximation," said Dr. William Hunter, President and CEO of Angiotech.
Angiotech plans to exhibit the Quill SRS product line at the Annual Meeting of the American Society for Aesthetic Plastic Surgery (ASAPS) to be held May 1-6 in San Diego, California.
About the Quill(TM) Self-Retaining System (SRS)
The Quill SRS represents a revolutionary technology in wound closure made possible by bidirectional fixation within the wound. Its patented design allows the surgeon to begin closure at the midpoint of the wound and suture in two directions from the midpoint. Barbs within the Quill SRS distribute tension across the wound and eliminate the need for knots. This highly efficient, knot-less system can save significant procedural time in the operating room while also enhancing wound closure.
Note on Forward Looking Statements
Statements contained in this press release that are not based on
historical fact, including without limitation statements containing the
words "believes," "may," "plans," "will," "estimate," "continue,"
"anticipates," "intends," "expects" and similar expressions, constitute
"forward-looking statements" within the meaning of the U.S. Private
Securities Litigation Reform Act of 1995 and constitute "forward-looking
information" within the meaning of applicable Canadian securities laws. All
such statements are made pursuant to the "safe harbor" provisions of
applicable securities legislation. Forward-looking statements may involve,
but are not limited to, comments with respect to our strategies or future
actions, our targets, expectations for our financial condition and the
results of, or outlook for, our operations, research development and
product and drug development. 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. Many such risks, uncertainties and other
factors are taken into account as part of our assumptions underlying these
forward-looking statements and include, among others, the following:
general economic and business conditions, both nationally and in the
regions in which we operate; market demand; technological changes that
could impact our existing products or our ability to develop and
commercialize future products; competition; existing governmental
regulations and changes in, or the failure to comply with, governmental
regulations; adverse results or unexpected delays in drug discovery and
clinical development processes; decisions, and the timing of decisions,
made by health regulatory agencies regarding approval of our technology and
products; the requirement for substantial funding to conduct research and
development and to expand commercialization activities or consummate
acquisitions; the accuracy of our estimations of the size of the market,
and the potential market, for our products in specific disease areas; sales
numbers and future guidance publicly provided by Boston Scientific
Corporation regarding sales of their paclitaxel-eluting coronary stent
products; and any other factors that may affect performance. In addition,
our business is subject to certain operating risks that may cause the
actual results expressed or implied by the forward-looking statements in
this report to differ materially from our actual results. These operating
risks include: our ability to attract and retain qualified personnel; our
ability to successfully complete preclinical and clinical development of
our products; changes in business strategy or development plans; our
failure to obtain patent protection for discoveries; loss of patent
protection resulting from third party challenges to our patents;
commercialization limitations imposed by patents owned or controlled by
third parties; our ability to obtain rights to technology from licensors;
liability for patent claims and other claims asserted against us; our
ability to obtain and enforce timely patent and other intellectual property
protection for our technology and products; the ability to enter into, and
to maintain, corporate alliances relating to the development and
commercialization of our technology and products; market acceptance of our
technology and products; our ability to successfully manufacture, market
and sell our products; the ability of Boston Scientific Corporation to
successfully manufacture, market and sell their paclitaxel-eluting coronary
stent products; the continued availability of capital to finance our
activities; our ability to achieve the financial benefits expected as a
result of the acquisition of American Medical Instruments Holdings, Inc.;
and any other factors referenced in our annual information form and other
filings with the applicable Canadian securities regulatory authorities or
the Securities and Exchange Commission. Given these uncertainties,
assumptions and risk factors, readers are cautioned not to place undue
reliance on such forward-looking statements. We disclaim any obligation to
update any such factors or to publicly announce the result of any revisions
to any of the forward-looking statements contained in this press release to
reflect future results, events or developments.
Quill(TM) is a trademark of Quill Medical, Inc., a wholly-owned
subsidiary of Angiotech Pharmaceuticals, Inc.
(C)2008 Angiotech Pharmaceuticals, Inc. All Rights Reserved.
Angiotech Pharmaceuticals, Inc. 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. To find out more about Angiotech (NASDAQ: ANPI, TSX: ANP), please visit our website at http://www.angiotech.com.
CONTACT: Deirdre Neary, Manager, Investor Relations and Corporate Communications, Angiotech Pharmaceuticals, Inc., (604) 222-7056, firstname.lastname@example.org
|SOURCE Angiotech Pharmaceuticals, Inc.|
Copyright©2008 PR Newswire.
All rights reserved