ANGIOTECH COMPLETES ACQUISITION OF AFMEDICA

Angiotech Pharmaceuticals, Inc. today announced that it has completed its acquisition of 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 leadership in peripheral by-pass surgery, where Angiotech is currently conducting human clinical studies with its paclitaxel-eluting Vascular Wrap(TM) product candidate and expects to present one year safety data from its European trial this November at the Veith Conference in New York.
Canada NewsWire