Acquisition to further research in bioactive devices and implants

Vancouver, BC — February 4, 2003 — Angiotech Pharmaceuticals announced yesterday that it has completed its acquisition of Cohesion Technologies, a biomaterial and biosurgical company.

“The Cohesion acquisition builds out our internal capabilities handsomely by bringing in several polymers with unique characteristics,” says president and chief executive officer of Angiotech, William L. Hunter. “As with the paclitaxel-eluting stent, our goal is to introduce innovative drug-loaded biomaterials and devices with superior performance.”

Angiotech Pharmaceuticals focuses its work on enhancing the performance of medical devices and biomaterials through the use of pharmacotherapeutics.

The acquisition is intended to combine Angiotech’s drug-loading expertise with Cohesion’s approved biomaterials, with the goal of creating an industry leader in the emerging field of bioactive devices and implants. The two companies say they bring together complementary capabilities by uniting Angiotech’s pharmaceutical expertise and ground-breaking therapeutic solutions with Cohesion’s product development and research capabilities, regulatory and clinical experience, intellectual property portfolio, delivery systems, and specialized US sales force.

With over 25 years of developing and producing biomaterials, Cohesion and its predecessor, Collagen Corporation, have created an extensive patent portfolio that the company says includes approximately 75 issued US patents with 10 patent applications pending in the US. Cohesion’s product portfolio includes four biomaterials and three approved products involving proprietary-based composites, sealants and adhesives. Cohesion’s products are ideal for use in minimally invasive surgery, as well as open surgery.

More details are available on Biotech Pharmaceuticals’ website at www.biotech.com.