VANCOUVER, March 13 /PRNewswire-FirstCall/ - Angiotech Pharmaceuticals, Inc. (NASDAQ: ANPI, TSX: ANP) announced today that it has entered into a definitive licensing agreement with privately held Rex Medical, LP ("Rex Medical") for exclusive worldwide rights to market and distribute the Option(TM) inferior vena cava (IVC) filter, a medical device that is implanted into the body's inferior vena cava to prevent pulmonary embolism (PE).
According to industry research, the U.S. market for IVC filters in 2007 was approximately $200 million with retrievable filters accounting for approximately two-thirds of this market. The Option(TM) IVC filter, developed by Rex Medical, is an IVC filter specifically designed for long-term retrieval post device implantation and is expected to be approved for both permanent and retrievable indications.
Angiotech and Rex Medical will be exhibiting at the 33rd Annual Meeting of the Society of Interventional Radiology (SIR) to be held in Washington, DC from March 15-18, 2008.
"With product offerings such as the Option(TM) IVC filter and our EnSnare(TM) retrieval device, we are continuing our commitment to offer industry-leading technologies to service the needs of our interventional and endovascular call points. We believe that the Option(TM) IVC filter is a cornerstone technology for our Interventional business and a 'best-in-class' product that will be significantly differentiated in the marketplace," said Dr. William Hunter, President and CEO of Angiotech.
"We are pleased to have entered into this commercial partnership with
Angiotech for the Option(TM) IVC filter in such a critical market for the
interventional community. We believe that the Option(TM) IVC filter is a
superior IVC f
|SOURCE Angiotech Pharmaceuticals, Inc.|
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