Angiotech Pharma to Acquire Cohesion Technologies

In a move to accelerate the company's product development pipeline, Angiotech Pharmaceuticals, Inc. (Vancouver, Canada) has agreed to acquire Cohesion Technologies, Inc. (Palo Alto, CA, USA) for around US$42 million.

The agreement will unite Angiotech's pharmaceutical expertise with Cohesion's product development and research capabilities, regulatory and clinical experience, intellectual property portfolio, and delivery systems. Cohesion's core products are the CoSeal surgical sealant and the CoStasis surgical hemostat. The company's portfolio also includes biomaterials, proprietary composites, sealants, and adhesives. Angiotech is focused on stent coatings and treatments for inflammatory diseases through reformulation of paclitaxel.

"We expect the number of bioactive products to proliferate rapidly to address the unmet therapeutic needs of patients in multiple indications,” said William L. Hunter, M.D., chairman and CEO of Angiotech. "Having approved biomaterials as a basis for drug-loaded programs will serve as a clear advantage in being first to market with a variety of novel drug-loaded implants.”





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