Navigation Links
Angiotech to Establish Separate Operating and Royalty Businesses
Date:7/7/2008

ed transaction enables Angiotech to

raise a sizable amount of gross proceeds in the form of convertible

securities that will bear non-cash interest payable in kind, and will

be convertible into shares of Angiotech's newly formed subsidiary,

API. The net proceeds that the Company elects to raise will be

utilized to reduce selected principal amounts of the two cash pay

debt securities of Angiotech currently outstanding, significantly

reducing Angiotech's cash interest expense and thereby improving

interest coverage and debt ratios.

- Retain majority API stake for Angiotech shareholders. This

transaction leaves a pro forma API initial ownership stake of between

52% and 68% for Angiotech's existing shareholders (measured

accounting for the convertible notes on an "if converted" basis at

closing). Importantly, Angiotech's existing shareholders will

continue to participate meaningfully in the success of the various

API businesses and product opportunities, including API's proprietary

Quill SRS(TM) technology and its recently approved

5-flourouracil-eluting central venous catheter.

- Mitigates risks related to Angiotech's drug-eluting stent royalty

revenue and cash flows. The debt and cash interest expense reduction

that may be achieved, combined with the significant implied equity

value of Angiotech's ownership stake in API, should improve

Angiotech's ability to continue to meet its debt obligations should

royalties received from its partner Boston Scientific Corporation

("BSC") decline from current levels as a result of additional

competitive entrants into the market for drug-eluting stents.

- Unlock and capture value embedded in Angiotech's non-TAXUS assets.

The conversion ratio of the securities issued impl
'/>"/>

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

1

GOOD

Page: 1 2 3 4 5 6 7 8 9 10 11 12 13 14

Related biology technology :

1. Angiotech announces additional diameters of sutures to further expand its Quill(TM) SRS PDO product line
2. Angiotech receives favourable patent decision from New Zealands Intellectual Property Office
3. Angiotech reaches agreement with Johnson & Johnson to settle outstanding patent litigation
4. Angiotech to participate in UBS Global Life Sciences Conference
5. Angiotech announces intent to file 510(k) for its innovative 5-FU Central Venous Catheter (CVC) based on positive results from pivotal trial
6. Angiotech Receives CE Mark Approval of Quill(TM) SRS MONODERM(TM), a New Rapidly Resorbing Suture Product Line
7. Angiotech announces preliminary third quarter financial results and updates fiscal 2007 outlook
8. Angiotech to participate in Bank of America 2007 Credit Conference
9. Angiotech to participate in RBC 2007 Healthcare Conference
10. Angiotech Submits 510(K) To FDA For Its Innovative 5-FU CVC
11. Athersys and Angiotech announce authorization of Phase I intramyocardial stem cell U.S. clinical trial in acute myocardial infarction
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/18/2013)... The Regulatory Affairs Professionals Society ... in Asia—one in Singapore and one in Shanghai, China. ... Pan-Asia office , serving the Asia Pacific region, and ... within China. , The announcement comes just a few ... government agencies to develop and implement a new ...
(Date:6/18/2013)... 18, 2013 The human skin is the ... an important human body part. Similar to the liver, or ... to function, repair and grow. Recent reports from the mankatofreepress.com ... is just as important as other life supporting organs. The ... in skin cell reproduction, increase the appearance of skin, and ...
(Date:6/18/2013)... Nasseo, Inc. today announces that it ... of hundreds of applicants by the Arizona Commerce ... Challenge . The Arizona Innovation Challenge (AIC) awards the ... challenge, granting a financial award to what it deems ... state of the art dental and orthopedic implant surface ...
(Date:6/18/2013)... WILMINGTON, Delaware , June 18, 2013 /PRNewswire/ ... to announce the release of the HELM biomolecular ... permissive open source MIT licence. HELM ... of a wide range of biomolecules (e.g. proteins, ... render existing small-molecule and sequence-based informatics methodologies impractical ...
Breaking Biology Technology:RAPS Opens Offices in Singapore and China 2RAPS Opens Offices in Singapore and China 3Natural Acne Remedies Through Diet, Probiotic Action Shares New Insight on What Foods May Help Lead to Clear Skin 2Nasseo Named 2013 Innovation Challenge Winner by Arizona Commerce Authority 2The Pistoia Alliance Releases HELM Biomolecular Representation Standard Open Source Tools 2
... of Global Distribution Agreements to Make ZyGEM,s Lower-Cost, ... Researchers Everywhere--ZyGEM Also Announces Issuance of U.S. Patent ... Calif. and HAMILTON, New Zealand and ANN ... today announced that it has entered into an ...
... GenVec, Inc. (Nasdaq: GNVC ) announced today that it ... for the sale of 9,615,385 shares of its common stock and ... shares of common stock and warrants are being offered in units ... purchase one share of common stock at a price of $0.624 ...
... Chinese Academy of Sciences in Beijing, scientists have investigated ... understand how they may help in the development of ... The research focused on rotating magnetic fields, which play ... generators. The difficulty for technology at the atomic scale ...
Cached Biology Technology:ZyGEM Corp. Signs Agreement to Incorporate Its Breakthrough DNA Extraction Technology Into Rubicon's Research and Diagnostic Products 2ZyGEM Corp. Signs Agreement to Incorporate Its Breakthrough DNA Extraction Technology Into Rubicon's Research and Diagnostic Products 3ZyGEM Corp. Signs Agreement to Incorporate Its Breakthrough DNA Extraction Technology Into Rubicon's Research and Diagnostic Products 4GenVec Announces Registered Offering of $6 Million in Common Stock and Warrants 2GenVec Announces Registered Offering of $6 Million in Common Stock and Warrants 3
(Date:6/17/2013)... CORVALLIS, Ore. Amphibian populations are declining worldwide and ... be spread by bullfrogs, but a two-year study shows ... suggestions that bullfrogs are a tolerant carrier host that ... frogs from eggs in controlled experimental conditions, they found ... dendrobatidis , also called Bd or a chytrid fungus, ...
(Date:6/16/2013)... prevention programs for female sex workers in India reduce ... (STIs), a University of Toronto study has found. ... HIV, mostly in the southern states of Andhra Pradesh, ... Professor Prabhat Jha from U of T,s Dalla Lana ... for Global Health Research (CGHR), examined the impact of ...
(Date:6/16/2013)... ago triggered a similar marine ecosystem crisis to those ... warming, according to research published today in Nature ... universities of Newcastle, UK, Cologne, Frankfurt and GEOMAR-Kiel, confirms ... the marine ecosystem during the mid-Cretaceous greenhouse period. ... amplitude and duration of the temperature change.,Analysing the geochemistry ...
Breaking Biology News(10 mins):Bullfrogs may help spread deadly amphibian fungus, but also die from it 2HIV prevention among female sex workers in India reduces HIV and syphilis 2Global cooling as significant as global warming 2
... 2010 A new computer data compression technique called Genomic ... will allow genetic researchers and others to store, analyze and ... lower cost. Created specifically for genomic sequencing data, the ... in a paper published today in the journal Bioinformatics ...
... Mass. , July 6 Aware, Inc. ... and biometrics software, today announced that it has supplied ... large European police agency analogous to the U.S. FBI. ... server software product being used by the police agency ...
... with samples of rare animals and more than 10 possible ... their thinking about deep-sea life in the Atlantic Ocean. ... during their six weeks in the Atlantic aboard the RRS ... evolutionary link between backboned and invertebrate animals. Using ...
Cached Biology News:New TGen technology reduces storage needs and costs for genomic data 2New TGen technology reduces storage needs and costs for genomic data 3Aware's Biometric Services Platform (BioSP) Deployed By a Large European Police Agency 2Aware's Biometric Services Platform (BioSP) Deployed By a Large European Police Agency 3Aware's Biometric Services Platform (BioSP) Deployed By a Large European Police Agency 4Marine scientists return with rare creatures from the deep 2Marine scientists return with rare creatures from the deep 3
Request Info...
FITC~Bovine Serum Albumin...
... Ambion's custom siRNA service provides the ... gene silencing research. Custom siRNAs can be ... 19-21 base target sequence, or by providing ... check out Ambion's Silencer Validated and Silencer ...
, Premium quality synthesis and purification , You provide the sequence, we'll do the rest , Rigorous quality control , Your choice of purification method, amount and format , Available annealed...
Biology Products: