Angiotech Pharmaceuticals: Boston Scientific Submits Amended IDE to FDA for U.S. Clinical Trial of Its Paclitaxel-Eluting Coronary Stent System

Business Wire, Feb 20, 2002

Business Editors & Health/Medical Writers

VANCOUVER, British Columbia--(BUSINESS WIRE)--Feb. 20, 2002

Angiotech Pharmaceuticals Incorporated (NASDAQ:ANPI) (TSE:ANP.) was notified today by Boston Scientific Corporation ("BSC") that BSC submitted an amended application to the U.S. Food and Drug Administration (FDA) for approval of an Investigational Device Exemption (IDE) to support a clinical trial of its paclitaxel-eluting coronary stent system.

The application is for the TAXUS IV clinical trial, the fourth in a series of studies designed to collect clinical information on BSC's proprietary technology for reducing coronary restenosis.

The amended application incorporates a number of changes, including a modified clinical trial protocol, as stated by BSC.

BSC has acquired worldwide co-exclusive rights from Angiotech to use paclitaxel to coat its coronary stent products and other vascular and non-vascular products.

Angiotech Pharmaceuticals, Inc. is a Canadian pharmaceutical company dedicated to the development of medical device coatings and treatments for chronic inflammatory diseases through reformulation of the anticancer drug, paclitaxel. Several pharmaceutical therapies are in clinical development: systemic Micellar Paclitaxel (PAXCEED(TM)) for secondary progressive multiple sclerosis (Phase 2), rheumatoid arthritis (Phase 1) and severe psoriasis (Pilot Phase 2). The paclitaxel-coated coronary stent program is currently in international clinical safety and efficacy studies. Other medical device programs include paclitaxel-loaded surgical implants for the treatment of restenosis associated with peripheral vascular surgery.

PAXCEED is a trademark of Angiotech Pharmaceuticals, Inc.

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