Angiotech Pharmaceuticals
This article was originally published in The Gray Sheet
Executive Summary
European launch of the Logic paclitaxel-coated coronary stent in early 2002 by Angiotech's partner Cook is anticipated to help Angiotech achieve profitability next year, company CEO William Hunter, MD, tells attendees of the Deutsche Banc Alex. Brown health care conference in Baltimore May 8-10. The launch would trigger royalty payments in the range of 5-10% to Angiotech for use of its paclitaxel delivery technology. Cook completed enrollment for its 180-patient ELUTES European study evaluating the drug-coated Logic on May 9. Toronto-based Angiotech also stands to benefit from a similar royalty payment from Boston Scientific, which is also developing a paclitaxel-coated stent under a separate agreement. Other device collaborations by the pharmaceutical firm include a $21 mil. agreement with C.R. Bard to develop paclitaxel-loaded surgical implants to treat restenosis in vein grafts, and with Alcon Labs for the treatment of proliferative ocular conditions. Clinical trials based on those agreements are slated for early 2002 and year-end, respectively