VANCOUVER, Nov. 29 /PRNewswire/ - Angiotech Pharmaceuticals,
Inc. (NASDAQ: ANPI, TSX: ANP) ("Angiotech") announced it has
entered into a private label product supply agreement with Hologic,
Inc. (NASDAQ: HOLX) ("Hologic") for soft tissue biopsy instruments
manufactured by Angiotech. The initial term of the supply
agreement is for three years with automatic renewals (subject to
certain conditions) for additional periods of three years
each. The agreement is specific to products sold in
the United States for use in
breast biopsies.
In 2009, there were approximately 1.8 million
breast biopsies performed in the U.S. The U.S. minimally
invasive breast biopsy systems market, which includes
vacuum-assisted breast biopsy hand pieces, consoles, and
accessories/disposables as well as tissue markers and stereotactic
biopsy tables, is estimated at $427M
in 2008 according to Elsevier Business Intelligence's Medtech
Insight market intelligence reports.
Hologic, a leading developer, manufacturer and
supplier of premium diagnostic products, medical imaging systems,
and surgical products specific to women's healthcare, sells a
variety of products related to breast biopsy. To expand its
product offering and complement its vacuum-assisted breast biopsy
systems, Hologic will now offer a 14g single-use, fully automatic
biopsy instrument with a number of features including a
spring-loaded stylet and cannula, one-handed operation, and an
echogenic needle tip. The product will be available with a
matching co-axial introducer.
"Angiotech is excited about this partnership with Hologic, a
leader in the breast biopsy market," said Dr. William Hunter, President and CEO of
Angiotech. "This is yet another example of Angiotech's
product development expertise partnered with an industry leader
with a broad footprint across the U.S., providing a large number of
physicians and patients with Angiotech's innovative healthcare
technologies."
Forward Looking Statements
Statements contained in this press release that are not based on
historical fact, including without limitation statements containing
the words "believes," "may," "plans," "will," "estimates,"
"continues," "anticipates," "intends," "expects" and similar
expressions, constitute "forward-looking statements" within the
meaning of the Private Securities Litigation Reform Act of 1995 and
constitute "forward-looking information" within the meaning of
applicable Canadian securities laws. All such statements are made
pursuant to the "safe harbor" provisions of applicable securities
legislation. Forward- looking statements may involve, but are not
limited to, comments with respect to our objectives and priorities
for the remainder of 2010 and beyond, our strategies or future
actions, our targets, expectations for our financial condition and
the results of, or outlook for, our operations, research and
development and product and drug development. Such forward-looking
statements involve known and unknown risks, uncertainties and other
factors that may cause the actual results, events or developments
to be materially different from any future results, events or
developments expressed or implied by such forward-looking
statements. Many such known risks, uncertainties and other factors
are taken into account as part of our assumptions underlying these
forward-looking statements and include, among others, the
following: general economic and business conditions in the United States, Canada and the other regions in which we
operate; market demand; technological changes that could impact our
existing products or our ability to develop and commercialize
future products; competition; existing governmental legislation and
regulations and changes in, or the failure to comply with,
governmental legislation and regulations; availability of financial
reimbursement coverage from governmental and third-party payers for
products and related treatments; adverse results or unexpected
delays in pre-clinical and clinical product development processes;
adverse findings related to the safety and/or efficacy of our
products or products sold by our partners; decisions, and the
timing of decisions, made by health regulatory agencies regarding
approval of our technology and products; the requirement for
substantial funding to conduct research and development, to expand
manufacturing and commercialization activities; and any other
factors that may affect our performance. In addition, our business
is subject to certain operating risks that may cause any results
expressed or implied by the forward-looking statements in this
press release to differ materially from our actual results. These
operating risks include: our ability to attract and retain
qualified personnel; our ability to successfully complete
pre-clinical and clinical development of our products; changes in
our business strategy or development plans; our failure to obtain
patent protection for discoveries; loss of patent protection
resulting from third-party challenges to our patents;
commercialization limitations imposed by patents owned or
controlled by third parties; our ability to obtain rights to
technology from licensors; liability for patent claims and other
claims asserted against us; our ability to obtain and enforce
timely patent and other intellectual property protection for our
technology and products; the ability to enter into, and to
maintain, corporate alliances relating to the development and
commercialization of our technology and products; market acceptance
of our technology and products; our ability to successfully
manufacture, market and sell our products; the availability of
capital to finance our activities; our ability to restructure and
to service our debt obligations; and any other factors referenced
in our other filings with the applicable Canadian securities
regulatory authorities or the Securities and Exchange Commission
("SEC"). For a more thorough discussion of the risks associated
with our business, see the "Risk Factors" section in our annual
report for the year ended December 31,
2009 filed with the SEC on Form 10-K, as amended, and our
quarterly report for the third quarter of 2010 filed with the SEC
on Form 10-Q.
Given these uncertainties, assumptions and
risk factors, investors are cautioned not to place undue reliance
on such forward-looking statements. Except as required by law, we
disclaim any obligation to update any such factors or to publicly
announce the result of any revisions to any of the forward-looking
statements contained in this press release to reflect future
results, events or developments.
©2010 Angiotech Pharmaceuticals, Inc. All Rights
Reserved.
About Angiotech
Pharmaceuticals
Angiotech Pharmaceuticals, Inc. is a global specialty
pharmaceutical and medical device company. 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 our website
at www.angiotech.com.
SOURCE Angiotech Pharmaceuticals, Inc.
Copyright . 29 PR Newswire