Angiotech to Acquire NeuColl

In a move that will add collagen-based products to its portfolio, Angiotech Pharmaceuticals, Inc. (Vancouver, Canada), has agreed to acquire NeuColl, Inc. (Los Gatos, CA, USA), a company engaged in developing and commercializing a synthetic bone graft substitute comprised of collagen, a composite material of hydroxyapatite and tricalcium phosphate.

Angiotech had previously obtained an equity interest in NeuColl through the acquisition of Cohesion Technologies in January 2003. Under the terms of the agreement, Angiotech will acquire the remainder of NeuColl's equity for about U.S.$13 million in cash. Upon the closing of the transaction, NeuColl will become a wholly owned subsidiary of Cohension, which is a wholly owned subsidiary of Angiotech.

Zimmer, Inc. (Warsaw, IN, USA), has distribution rights for NeuColl's two lead products: Collagraft and Neugraft. These synthetic biomaterials eliminate the trauma created when a second operative site is required to harvest a patient's own bone to complete a bone graft procedure. NeuColl's materials are designed to closely mimic the composition of natural bone. Applications include total joint replacement surgery, spinal fusion, and fracture repair.

"With NeuColl, we are acquiring a robust product line, a strong distribution partner, and intellectual property that will allow us to immediately develop novel therapies in orthopedics and spine,” said Jeanne M. Bertonis, chief business officer of Angiotech.



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