Navigation Links
Haemacure and Angiotech Enter License, Distribution and Supply Agreements for Haemacure's All-Human Fibrin Sealant and Thrombin Products


    Haemacure Completes US$2.5 Million Bridge Financing from Angiotech

MONTREAL, June 3 /PRNewswire-FirstCall/ - Haemacure Corporation (TSX:HAE), a Montreal-based specialty bio-therapeutics company, announces that Haemacure and Angiotech Pharmaceuticals, Inc. (NASDAQ: ANPI, TSX:ANP) have today closed a senior secured bridge loan from Angiotech to Haemacure in a minimum amount of US$2.5 million. The loan was described in detail in Haemacure's press release of May 22, 2009. In addition, Haemacure and Angiotech have executed definitive agreements for a strategic collaboration which will provide Angiotech with certain license, distribution and supply rights related to Haemacure's all-human fibrin sealant and thrombin products, both of which are currently in development.

"We believe this bridge financing and strategic collaboration with Angiotech provides an important validation of our company and its products. This will also position us for a larger, subsequent capital raise in order to complete the development and launch of our fibrin sealant and thrombin products on the market", said Joseph Galli, Chairman and Chief Executive Officer of Haemacure. "By collaborating with Angiotech, a company with a successful track record of innovation in drug delivery, we are expanding the number of product candidates that can be developed and leveraging our technology in new markets with significant unmet needs" concluded Mr. Galli.

    The strategic collaboration consists of the following three agreements:

    - Fibrin Sealant Distribution Agreement. Haemacure and Angiotech have
      entered into a distribution agreement under which Angiotech has been
      granted non-exclusive, world-wide distribution rights to Haemacure's
      hemostasis formulation of its proprietary fibrin sealant product in
      selected surgical indications. The distribution agreement has a term of
      ten years from the date on which Haemacure receives approval for its
      fibrin sealant from the United States Food and Drug Administration
      (FDA) or similar regulatory approval in other countries. Angiotech has
      an option to renew the agreement for an additional five years, subject
      to certain performance adjustments.
    - Drug-Loaded Fibrin Sealant License and Development Agreement. Haemacure
      and Angiotech have entered into a license and development agreement
      under which they have agreed to jointly develop and commercialize a
      next-generation, drug-loaded fibrin sealant product candidate.
      Angiotech and Haemacure will collaborate to create novel fibrin sealant
      technologies that, in addition to fibrin sealant's inherent hemostatic
      properties, may target the prevention of infection, reduce pain, or
      deliver stem cells using Haemacure's fibrin sealant as a carrier of
      such therapies. Haemacure and Angiotech will conduct research, with
      each contributing key personnel, technology and intellectual property.
      Collaboration costs and eventual profits will be shared on a pro rata
      basis, based on each company's contribution to collaboration costs.
      This term of the agreement will expire on a collaboration product-by-
      collaboration product basis upon the later of 15 years after the first
      commercial sale of such collaboration product, and the last-to-expire
      valid patent claim applicable to such collaboration product.
    - Thrombin License and Supply Agreement. Haemacure and Angiotech have
      entered into an exclusive license and supply agreement under which
      Haemacure will supply its proprietary human thrombin to Angiotech for
      the development of a certain Angiotech preclinical product candidate.
      The agreement has a term of ten years from the first commercial sale of
      an approved Angiotech product containing thrombin procured from
      Haemacure. Angiotech has an option to renew the agreement for an
      additional five years.

About Haemacure

Haemacure Corporation is a specialty biotherapeutics company developing high-value human plasma-derived protein products for commercialization. Haemacure's research and development effort is driven by its proprietary plasma protein extraction technology to develop next-generation products, including surgical haemostats. Haemacure's proprietary, lead product candidate is a fibrin sealant in late-stage clinical trials. Haemacure's proprietary, second product candidate is thrombin, a component of its fibrin sealant, now in preclinical stage. Follow-on development will focus on the use of fibrin sealant in aesthetics, adhesion prevention, combination with biomaterials, drug delivery, regenerative medecine, skin graft fixation for burn injuries, and wound healing.

About Angiotech

Angiotech Pharmaceuticals, Inc. is a global specialty pharmaceutical and medical device company with over 1,500 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 its website at

Forward-looking Statements

Certain of the statements contained in this news release are forward-looking statements. Such statements, based as they are on the current expectations of management, inherently involve numerous risks and uncertainties, known and unknown. Some examples of known risks are: the impact of general economic conditions, general conditions in the biotech industry, changes in the regulatory environment in the jurisdictions in which Haemacure does business, stock market volatility, fluctuations in costs, and changes to the competitive environment due to consolidation or otherwise. Consequently, actual future results may differ materially from the anticipated results expressed in the forward-looking statements. Haemacure disclaims any intention or obligation to update these statements.

Copyright©2009 PR Newswire.
All rights reserved

Related medicine news :

1. Haemacure Update on Proposed Collaboration and Bridge Financing
2. Haemacure Signs Term Sheet for Proposed Collaboration and Bridge Financing
3. Haemacure Reports First Quarter 2009 Results and Hires Advisor for the Sale or Merger of the Company
4. Haemacure Restructures - Seeks Financing or Sale of the Company
5. Haemacure to Present at the 11th Annual BIO CEO & Investor Conference
6. Haemacure Announces Fiscal 2008 Results
7. Haemacures Human Fibrin Sealant Demonstrates Effectiveness in Skin Graft Fixation Proof-of-Concept Study for Burn Injury
8. Haemacure Confirms Operation Qualification of Production Equipment and Pursues Milestone Payment from CSL
9. Haemacure to Present at the Rodman & Renshaw Annual Global Investor Conference
10. Haemacure Appoints Thomas J. Lynch, J.D., Ph.D. to Board of Directors
11. Adhesion Prevention New Major Market Opportunity, Haemacure Confirms Effectiveness of its Fibrin Sealant in Second Preclinical Study in Adhesion Prevention in a Bleeding Model
Post Your Comments:
(Date:11/25/2015)... ... November 25, 2015 , ... The holiday season is ... pleasing the palates of attendees is of the utmost importance. Whether you are ... get-together, give these recipes a try this holiday season. , Turkey Croquettes , ...
(Date:11/25/2015)... ... November 25, 2015 , ... ... factory direct sauna parts and accessories. , Sauna accessories help improve the bather ... style and personality. From basic styles for the purist looking for simplicity in ...
(Date:11/25/2015)... ... 2015 , ... On November 10, 2015, Bohrer Brady, LLC filed a class ... of a home health care worker who provided companionship services for the elderly, ill ... employed by Humana, Inc., Humana at Home, Inc., and SeniorBridge Family Companies (CT), Inc. ...
(Date:11/25/2015)... Jacksonville, FL (PRWEB) , ... November 25, 2015 ... ... treatment center, is encouraging people across the country to celebrate their sobriety and ... invites people to post “before and after” photos this Thanksgiving with the hashtag ...
(Date:11/25/2015)... ... November 25, 2015 , ... ... and athletic programs, launches new Wimbledon Athletics Facebook page to educate ... athletes for unsuspected cardiac abnormalities. About 2,000 people under the age of 25 ...
Breaking Medicine News(10 mins):
(Date:11/25/2015)... -- On Tuesday, November 24, 2015, the jury ... Medical Technology, Inc. for product liability and misrepresentation ... device, awarded $11 million in favor of Plaintiff ... three days of deliberations, the jury found that ... and unreasonably dangerous, and that Wright Medical made ...
(Date:11/25/2015)... SAN DIEGO , Nov. 25, 2015  Trovagene, ... molecular diagnostics, today announced that Chief Executive Officer Antonius ... at the 27 th Annual Piper Jaffray Healthcare ... Conference at the New York Palace Hotel in ... 2015 at 1:30 p.m. EST. Mr. Schuh will be ...
(Date:11/25/2015)... 25, 2015 --> ... glucose devices was valued at $11,171.1 million in 2014, ... of 5.7% during 2015 - 2022. The global market ... prevalence of diabetes. In addition, the increase in obese ... contributing to the growth of the market. Furthermore, technological ...
Breaking Medicine Technology: