Navigation Links
Angiotech announces termination of note purchase agreement with Ares Management and New Leaf Venture Partners
Date:11/21/2008

EVALUATION OF VARIOUS FINANCIAL AND RESTRUCTURING ALTERNATIVES ONGOING

VANCOUVER, Nov. 21 /PRNewswire-FirstCall/ - Angiotech Pharmaceuticals, Inc. (NASDAQ: ANPI, TSX: ANP), a global specialty pharmaceutical and medical device company, today announced that the Company had been notified by Ares Management (Ares) and New Leaf Venture Partners (New Leaf) that they had elected to terminate the Note Purchase Agreement dated July 7, 2008. Angiotech had announced on September 22, 2008 that it had notified Ares and New Leaf that it did not expect to satisfy the condition in the Note Purchase Agreement with respect to the minimum level of cash and cash equivalents required to be held at the time of the transaction's close, and that it intended to take a series of actions to reorganize and restructure its businesses.

Since the September 22 announcement, Angiotech and its Board of Directors have been pursuing financing alternatives to address the Company's working capital needs for its business initiatives, as well as to address potential liquidity issues likely to arise in the near term relating to the Company's current balance sheet structure. As part of this process, the Company has engaged The Blackstone Group to assist the Company in evaluating various alternatives for its business and capital structure, including, but not limited to, securing interim senior secured financing for working capital and liquidity purposes, evaluating various restructuring alternatives to pursue with the holders of the Company's Senior Floating Rate Notes and its Senior Subordinated Notes, and assisting the Company in evaluating proposals or potential proposals from various financial parties regarding a significant investment of capital in the Company.

    Forward Looking Statements
    --------------------------

Statements con
'/>"/>

SOURCE Angiotech Pharmaceuticals, Inc.
Copyright©2008 PR Newswire.
All rights reserved

0

GOOD

Page: 1 2 3 4

Related biology technology :

1. Angiotech Announces Webcast and Call-in Numbers for Annual and Special General Meeting of Shareholders
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 receives CE Mark approval of HemoStream(TM) Chronic Dialysis Catheter
4. Angiotech wins before the UK House of Lords
5. Angiotech to Establish Separate Operating and Royalty Businesses
6. Angiotech To Commence Cash Tender Offer for Senior Floating Rate Notes Due 2013 and 7.75% Senior Subordinated Notes Due 2014
7. Angiotech announces market launch of Quill(TM) SRS MONODERM(TM)
8. Angiotechs corporate partner, Cook Medical, announces positive interim results for its Zilver(R) PTX(TM) clinical study
9. Angiotech announces completion of Bio-Seal(TM) clinical trial enrolment
10. Angiotech appoints Hank McKinnell to its Board of Directors
11. Angiotech to participate in Bank of America Health Care Conference

Post Your Comments:
*Name:
*Comment:
*Email:
(Date:11/6/2009).../ -- Intarcia Therapeutics, Inc. delivered two pre...inuous delivery of exenatide) program for the trea...tes Technology Meeting in San Francisco, CA: ,,...301/SFTU126LOGO ) ,, Continuous Subcutaneous ...lucose, HbA1c and Reduces Weight in a 28-day Phase...
(Date:11/5/2009)...re/ -- The endangered black-footed ferrets inhabit...carnivore feeds on prairie dogs. The prairie dog...population die-offs in towns occur. The U.S. Fish...rret breeding program and has been releasing train...itat. Unfortunately, plague can sweep through and...
(Date:11/5/2009)...er 5, 2009 at 4:30 p.m. Eastern Time , BOTHEL...- OncoGenex Pharmaceuticals, Inc. ("OncoGenex" or ...udited financial results for the third quarter and... the Company,s highlights for the third quarter of...flect the operations of OncoGenex Technologies Inc...
(Date:11/5/2009)...re-FirstCall/ -- Wound Management Technologies, In...to a Letter of Intent to purchase all healthcare-r... (OTC Bulletin Board: VHGI). The deal provides for...0,000 shares of WNDM and a royalty agreement for r...ogy being acquired from VHGI. WNDM closed at $2....
Breaking Biology Technology:Intarcia Therapeutics, Inc. Presents Positive Results from Two Studies of ITCA 650 for the Treatment of Type 2 Diabetes at the Ninth Annual Diabetes Technology Meeting 2Intarcia Therapeutics, Inc. Presents Positive Results from Two Studies of ITCA 650 for the Treatment of Type 2 Diabetes at the Ninth Annual Diabetes Technology Meeting 3Intarcia Therapeutics, Inc. Presents Positive Results from Two Studies of ITCA 650 for the Treatment of Type 2 Diabetes at the Ninth Annual Diabetes Technology Meeting 4Intarcia Therapeutics, Inc. Presents Positive Results from Two Studies of ITCA 650 for the Treatment of Type 2 Diabetes at the Ninth Annual Diabetes Technology Meeting 5Colorado Companies Team Up With U.S. Fish & Wildlife Service to Protect Black-Footed Ferret 2OncoGenex Reports Third Quarter 2009 Financial Results 2OncoGenex Reports Third Quarter 2009 Financial Results 3OncoGenex Reports Third Quarter 2009 Financial Results 4OncoGenex Reports Third Quarter 2009 Financial Results 5OncoGenex Reports Third Quarter 2009 Financial Results 6OncoGenex Reports Third Quarter 2009 Financial Results 7OncoGenex Reports Third Quarter 2009 Financial Results 8OTCBB-WNDM Announces LOI to Acquire VHGI Assets for $10 Million Cash/Stock 2OTCBB-WNDM Announces LOI to Acquire VHGI Assets for $10 Million Cash/Stock 3
...ewswire/ -. Actavis Group, the,international gener...t has,received approval from the U.S. Food & Drug ...em. Distribution of the product will begin,immedia...equivalent of Alza/Janssen,s,Duragesic(R) and avai...ntanyl Transdermal System is indicated for the man...
...otechnology Company confirms commercial expression... status of native Apo AI -, CALGARY, Aug. 22 /PRN...SBS), a biotechnology company developing a portfol...ovascular diseases, today updated a release,issued...achieved commercial,levels of apolipoprotein AI (n...
...epublic, Aug. 21 Medpace,Inc., a leading global f...announced it has completed the acquisition of Mona...n (CRO) headquartered in Prague, Czech,Republic. T...al Europe and,expands its capacity to provide full...zech Republic and Slovakia. Petr Potuznik, MD, the...
Other Biology Technology:Actavis Receives Approval of Fentanyl Transdermal System in the U.S. 2SemBioSys updates Apo AI development program 2SemBioSys updates Apo AI development program 3SemBioSys updates Apo AI development program 4Medpace Strengthens Presence in Central Europe 2
(Date:11/4/2009)..., PORTOLA VALLEY, Calif., Oct. 19 ...olecular sensing and imaging devices which shed li...that it has signed exclusive distribution deals fo...nsors. The markets covered include Australia, New...enelux), Suriname, Italy, France, Spain, Portugal,...
(Date:11/4/2009)..., RIDGE, N.Y., Oct. 21 What,s the ...eventing accidental death resulting from prescript...s with good intentions, however, may be unaware th...ting their teens from the ticking timebomb of pres...leader in premium-quality medical supplies, has fo...
(Date:11/4/2009)..., CHAPEL HILL Scientists at the University of ...nd the University of California, San Francisco hav...to predict new target diseases for existing drugs....hod that compares how similar the structures of al...ng partners -- known as ligands -- of disease targ...
Breaking Biology News(10 mins):Spectros Signs New International Distribution Deals 2MEDNET Launches MedSafe to Prevent Teenage Prescription Drug Abuse 2MEDNET Launches MedSafe to Prevent Teenage Prescription Drug Abuse 3Study points to new uses, unexpected side effects of already existing drugs 2NSF Emerging Frontiers program supports development of smart materials based on study of fish 9613 1NSF Emerging Frontiers program supports development of smart materials based on study of fish 9613 2NSF Emerging Frontiers program supports development of smart materials based on study of fish 9613 3Kuvan and Naglazyme Data to Be Presented at the 11th Annual ICIEM Meeting 54852 1Kuvan and Naglazyme Data to Be Presented at the 11th Annual ICIEM Meeting 54852 2Kuvan and Naglazyme Data to Be Presented at the 11th Annual ICIEM Meeting 54852 3Kuvan and Naglazyme Data to Be Presented at the 11th Annual ICIEM Meeting 54852 4Kuvan and Naglazyme Data to Be Presented at the 11th Annual ICIEM Meeting 54852 5Kuvan and Naglazyme Data to Be Presented at the 11th Annual ICIEM Meeting 54852 6Martek to Announce Third Quarter 2009 Results 13629 1
...A study has found that the risks of a premature bi...ast two trimesters of pregnancy. The research was ...t de Montral,s Faculty of Pharmacy and the Sainte-...ent Krystel Moussally. , In Canada, 50 percent o... many of them prefer to use natural health product...
... The Aplastic Anemia & MDS International Foundatio...Committee for Medicinal Products for Human Use (CH...inion for the treatment of myelodysplastic syndrom...ll transplants. , The CHMP,s positive opinion is...strated an overall, unprecedented survival benefit...
... Construction of the brain,s border fence is super...t al. in The Journal of Cell Biology ., Like many...security to maintain levels of nutrients and keep ... is a virtually impermeable network of tight junct...ellular flow of materials. Because Wnt/b-catenin s...
Other Biology News:
Mouse Anti-Human p53, wild & mutant, aa 19-26 Monoclonal Antibody, Unconjugated, Clone DO-7 from CHEMICON
Tube-O-DIALYZER Floats, Floats, Small from CHEMICON
Anti-Feline Rhinotracheitis Virus Monoclonal Antibody, Unconjugated from ViroStat Inc.
Anti-Ezrin / Radixin / Moesin Antibody, Unconjugated from Cell Signaling Technology
Biology Products: