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Haemacure and Angiotech Enter License, Distribution and Supply Agreements for Haemacure's All-Human Fibrin Sealant and Thrombin Products
Date:6/3/2009

    HAE:TSX

    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
      sel
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SOURCE HAEMACURE CORPORATION
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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
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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
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