Angiotech announces acquisition of Afmedica, Inc.

14-Sep-2005

Angiotech Pharmaceuticals, Inc.announced that it has entered into a definitive agreement to acquire Afmedica, Inc., a private company developing perivascular technology using the drug rapamycin to treat peripheral vascular disease, coronary artery disease and end stage renal disease.

The Afmedica transaction strengthens Angiotech's market leadership with respect to its Vascular Wrap(TM) product development program, where Angiotech is currently conducting human clinical studies with its paclitaxel-eluting Vascular Wrap(TM) product candidate. The transaction enables Angiotech to potentially expand its research platform with rapamycin in perivascular and other selected disease indications. Terms of the transaction were not disclosed.

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