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Angiotech and Symphony Medical Announce Licensing Agreement
Date:1/17/2008

New Clinical Program Under Development to Improve Outcomes of Coronary

Artery Bypass Grafting (CABG) and Cardiac Valve Surgeries

VANCOUVER, BC and LAGUNA HILLS, CA, Jan. 17 /PRNewswire-FirstCall/ - Angiotech Pharmaceuticals, Inc. (NASDAQ: ANPI, TSX: ANP) and privately held Symphony Medical, Inc. today announced that they have entered into an exclusive licensing agreement to employ one of Angiotech's proprietary PEG-based biomaterials as part of a prophylactic therapy envisioned to mitigate the onset of post-operative atrial fibrillation (POAF) for patients undergoing coronary artery bypass grafting and cardiac valve surgeries.

"This agreement is another example of our continuing effort to lessen the complications and improve the outcomes of patients living with cardiovascular disease," said Dr. Bill Hunter, President and CEO of Angiotech. "Our innovative use of cutting edge, site-specific therapy has been central to the development of coronary and peripheral drug-eluting stents, anti-restenosis therapy in bypass surgery and hemodialysis access procedures, and more recently, coronary stem cell therapy and treatments for arrhythmias following open heart surgery," added Dr. Hunter.

Symphony Medical has been engaged in the development of non-destructive biocompatible polymer therapies to treat significant cardiac conditions such as atrial fibrillation and congestive heart failure since 2003. Its lead program involves the development of a prophylactic injection of biopolymer to prevent or reduce the incidence of POAF that occur following coronary artery bypass grafting (CABG) and cardiac valve surgeries. The product under development is a kit which employs a biopolymer, applicator and specialized electrical stimu
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SOURCE Angiotech Pharmaceuticals, Inc.
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