"We are excited about the opportunity to work with Angiotech's biomaterial to address a large unmet clinical need in POAF. According to numerous clinical studies, on average, 40 percent of patients who undergo CABG and coronary valve surgeries develop atrial fibrillation. Based on the success of our preclinical animal model, we have already received EU and Institutional Review Board approval for our 60 patient multi-center 'randomized safety study' in Germany and expect to begin enrolling patients in the first quarter of 2008," said Raymond W. Cohen, CEO of Symphony.
Under the terms of the agreement, Angiotech has been granted an equity position in Symphony Medical in exchange for the exclusive license of Angiotech's technology in the field of POAF. In addition, Angiotech will receive a royalty on end-user product sales should the product receive regulatory approval and is commercialized.
About Post-Operative Atrial Fibrillation (AF)(1)
Atrial fibrillation is a common arrhythmia following open heart surgery that is associated with increased morbidity and mortality. Patients who develop postoperative atrial fibrillation are more likely to have other postoperative complications such as peri-operative MI, CHF and respiratory failure(2). Postoperative atrial fibrillation is associated with longer ICU and hospital stays and consequently, the economic cost can be considerable(3).
Angiotech Pharmaceuticals, Inc. is a global specialty pharmaceutical
and medical device company with over 1,600 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 http://www.ang
|SOURCE Angiotech Pharmaceuticals, Inc.|
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