Angiotech to Acquire STS Biopolymers

In a move to obtain biocompatible coating technology, Angiotech Pharmaceuticals, Inc. (Vancouver, Canada) has agreed to buy STS Biopolymers, Inc. (STS, Henrietta, NY, USA) for about U.S.$23 million in cash.

STS has developed expertise in biocompatible coatings for a wide range of medical devices, including neurointerventional catheters, dilators, gastroenteral feeding tubs, infusion catheters, and blood filters. The company also licenses a series of hydrophilic, drug-delivery, and medical imaging coatings for a wide variety of medical device partners. The company's family of coatings include MediCoat and Echo-Coat. STS's first product was a line of ultrasound biopsy and aspiration needles. Angiotech has experience in product development for next-generation drug-coated medical devices and surgical implants.

"I am impressed by STS's diversity of commercially approved products and their development expertise,” said William L. Hunter, president and CEO of Angiotech. "Of special interest, these coatings lend themselves to drug-loading, enabling us to develop new next-generation drug-loaded products.”




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