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Angiotech Pharmaceuticals, Inc. Releases Selected Projected Financial Information
Date:10/29/2010

ng certain non-public information (the "Non-Public Information"), to such Subordinated Noteholders' financial and legal advisors.  The Confidentiality Agreements require that Angiotech now disclose certain of the Non-Public Information.

As previously announced on October 1, 2010, Angiotech determined, in connection with discussions with the Subordinated Noteholders, that it would not make interest payments totaling approximately $9.7 million due to holders of Angiotech's 7.75% Senior Subordinated Notes on October 1, 2010.  As described in Angiotech's press release on October 29, 2010, Angiotech has reached an agreement with the Subordinated Noteholders on the material terms of a recapitalization transaction.  Upon implementation, the proposed recapitalization transaction is expected to eliminate $250 million in total indebtedness and provide significant improvements to Angiotech's credit ratios, liquidity and financial flexibility.

Angiotech has not made any determination as to whether the Non-Public Information disclosed pursuant to the Confidentiality Agreements may be deemed material to existing or potential investors in making an investment decision or for any other purpose.

Angiotech does not, as a matter of course, publish its business plans, budgets or strategies or make publicly available projections or forecasts of its anticipated financial position, results of operations, capital expenditures or capital requirements.  The Non-Public Information provided to the Subordinated Noteholders was not prepared for public disclosure and is included in this press release only because such information was made available to the Subordinated Noteholders.  Subject to applicable securities law, Angiotech does not intend to or anticipate that it will, and disclaims any obligation to, furnish updated business plans, budgets, strategies, projections or forecasts or similar forward looking information to holders of securitie
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SOURCE Angiotech Pharmaceuticals, Inc.
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Related biology technology :

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2. Angiotech Announces Extension of the Expiration Date of its Tender Offer for Senior Floating Rate Notes Due 2013 and 7.75% Senior Subordinated Notes Due 2014
3. Angiotech Announces Webcast and Call-in Numbers for Annual and Special General Meeting of Shareholders
4. Angiotech announces termination of note purchase agreement with Ares Management and New Leaf Venture Partners
5. Angiotech Pharmaceuticals announces time change of conference call and webcast
6. Angiotech Pharmaceuticals, Inc. announces new Senior Secured Term Loan and Credit Facilities
7. Angiotech Pharmaceuticals, Inc. announces financial results for the fourth quarter ended December 31, 2008
8. Angiotech announces positive results from Bio-Seal(TM) clinical study
9. Angiotech Pharmaceuticals, Inc. announces License Agreement with Baxter International Inc.
10. Angiotech Pharmaceuticals, Inc. Announces Conference Call And Webcast
11. Angiotech announces date of annual general meeting of shareholders
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