VANCOUVER, Oct. 23 /PRNewswire-FirstCall/ - Angiotech Pharmaceuticals, Inc. , today announced the commercial launch of the Tan EndoGlide(TM) Endothelium Insertion System in the United States. Angiotech holds exclusive U.S. distribution rights to market and distribute the Tan EndoGlide Endothelium Insertion System, which it obtained in a supply agreement with privately held Network Medical Products, Ltd. Angiotech will launch the product during the American Academy of Ophthalmology meeting, to be held in San Francisco, CA on October 24-27, 2009.
“As less invasive cornea transplant techniques continue to evolve, new devices are needed to safely deliver donor tissue. The Tan EndoGlide is one of the first new devices on the market designed to help surgeons handle and insert endothelial cell tissue with minimal cell loss,” said Steve Bryant, Senior Vice President, Sales and Marketing for Angiotech. “We are excited to announce that the Tan EndoGlide Endothelium Insertion System is now available throughout the U.S. through our Ophthalmic Distributor Specialties Sales Team.”
The Tan EndoGlide is a device used to facilitate insertion of a donor endothelium during Endothelial Keratoplasty. The device is used by Ophthalmologists adapting to newer techniques to replace diseased corneal endothelium. The Tan EndoGlide is specifically designed for use in Descemet’s Stripping Endothelial Keratoplasty (DSEK) and Descemet’s Stripping Automated Endothelial Keratoplasty (DSAEK) surgical procedures.
About the Tan EndoGlide Endothelium Insertion System
The Tan EndoGlide, developed by Network Medical Products, Ltd., is a medical device specifically designed to offer surgeons support in reducing iatrogenic damage of donor endothelium caused by manipulation and insertion of the donor through a small incision. The device allows the surgeon to maintain full control of the donor lenticule at all stages of insertion. The patent pending cartridge design produces a “double-coil” loading of the donor tissue for minimal endothelial touch.
About Endothelial Keratoplasty (EK)
Endothelial Keratoplasty (EK) procedures allow surgeons to preserve the majority of a recipient’s cornea while replacing the non-functioning or diseased inner portion of the cornea with a healthy donor tissue. EK procedures require small incisions and are more minimally invasive than Penetrating Keratoplasty (PK) procedures. The primary advantages of EK procedures over PK procedures are minimal astigmatism associated with the surgery, and more rapid visual recovery.
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 2009 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 regulations and changes in, or the failure to comply with, governmental 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, 2008 filed with the SEC on Form 10-K, and our quarterly report for the three months ended June 30, 2009 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.
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 , please visit our website at www.angiotech.com.
SOURCE Angiotech Pharmaceuticals, Inc.
CONTACT: Sharrifah Al-Salem, Investor Relations and Corporate
Communications, Angiotech Pharmaceuticals, Inc., (415) 293-4414,
sharrifah.al-salem@FD.com
