Angiotech Pharmaceuticals, Inc. (fka ANPIQ)

[vlftraders]

ANGIOTECH PHARMACEUTICALS ANNOUNCES PRIVATE LABEL PRODUCT SUPPLY

AGREEMENT WITH HOLOGIC.

Today : Monday 29 November 2010

Angiotech Pharmaceuticals, Inc. (NASDAQ: ANPI, TSX: ANPI) ("Angiotech") announced it has entered into a private label product supply agreement with Hologic, Inc. (NASDAQ: HOLX) ("Hologic") for soft tissue biopsy instruments manufactured by Angiotech. The initial term of the supply agreement is for three years with automatic renewals (subject to certain conditions) for additional periods of three years each. The agreement is specific to products sold in the United States for use in breast biopsies.

In 2009, there were approximately 1.8 million breast biopsies performed in the U.S. The U.S. minimally invasive breast biopsy systems market, which includes vacuum-assisted breast biopsy hand pieces, consoles, and accessories/disposables as well as tissue markers and stereotactic biopsy tables, is estimated at $427M in 2008 according to Elsevier Business Intelligence's Medtech Insight market intelligence reports.

Hologic, a leading developer, manufacturer and supplier of premium diagnostic products, medical imaging systems, and surgical products specific to women's healthcare, sells a variety of products related to breast biopsy. To expand its product offering and complement its vacuum-assisted breast biopsy systems, Hologic will now offer a 14g single-use, fully automatic biopsy instrument with a number of features including a spring-loaded stylet and cannula, one-handed operation, and an echogenic needle tip. The product will be available with a matching co-axial introducer.

"Angiotech is excited about this partnership with Hologic, a leader in the breast biopsy market," said Dr. William Hunter, President and CEO of Angiotech. "This is yet another example of Angiotech's product development expertise partnered with an industry leader with a broad footprint across the U.S., providing a large number of physicians and patients with Angiotech's innovative healthcare technologies."

VLF