Angiotech obtains rights to polymer drug delivery patents

Vancouver, BC – September 17, 2004 – Specialty pharmaceutical company Angiotech Pharmaceuticals says it is obtaining access to patents Guilford Pharmaceuticals had previously licensed from the Massachusetts Institute of Technology (MIT) and the Johns Hopkins University (JHU). Guilford will receive proceeds of approximately $6.6 million from Angiotech.

The patents (US patent nos RE 37,410, 5,626,862 and 5,846,565 and other corresponding foreign patents and patent applications) relate to the use of biocompatible polymers for delivery of chemotherapeutic drugs.

These patents further support ongoing research and development strategic to Angiotech and extend over a range of agents and drug delivery applications.