11-May-2006 - Angiotech Pharmaceuticals, Inc.

Angiotech Pharmaceuticals and Genzyme Corporation Form Collaboration to Develop Innovative Surgical Oncology Treatments

Angiotech Pharmaceuticals, Inc. and Genzyme Corporation announced that they have entered into a strategic collaboration agreement designed to identify, develop and commercialize innovative therapies for cancer patients undergoing surgical removal of tumors.

Angiotech and Genzyme will collaborate to create novel, localized treatments that target the prevention of tumor re-growth after surgery through the direct application of a combined biomaterial/anti-cancer therapeutic at the site of tumor excision. Such products may also be useful in treating inoperable tumors, reducing local tumor side-effects, and improving surgical outcomes while complementing existing systemic therapies.

Under the collaboration agreement, Angiotech and Genzyme will contribute their respective expertise in drug screening and development, cell biology, biomaterials and oncology - along with their respective clinical and commercial infrastructures - to develop products for surgical oncologists and their patients.

The companies will conduct research jointly, with each contributing key personnel, technology and intellectual property. Genzyme will have primary responsibility for clinical development, manufacturing and worldwide commercialization of any collaboration products. Angiotech will participate in the development of products and will have a co-marketing option. Collaboration costs and any eventual profits will be shared equally.

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