The Canadian Press
Angiotech gets FDA clearance to market chronic dialysis catheter6 days ago
VANCOUVER (CP) — Angiotech Pharmaceuticals Inc. (TSX:ANP) announced Wednesday it has received approval from the U.S. Food and Drug Administration to begin selling its Hemo-Stream chronic dialysis catheter.
Angiotech signed a deal in April with Rex Medical, which developed the device, granting the Vancouver-based company an exclusive licence to market and distribute the catheter worldwide.
Dialysis catheters are used for short-term vascular access to provide hemodialysis patients with the dialysis they need.
The company said the catheter allows higher flow rates, reduced potential for air embolism or bleeding, decreased procedural steps and makes catheter placement easier.
Angiotech CEO William Hunter said the catheter is a complement to the firm's vascular graft business .
"With over 500,000 End Stage Renal Disease patients in the U.S., Angiotech is focused on the development and commercialization of innovative dialysis care products that improve the treatment options available to hemodialysis patients and vascular surgeons," Hunter said.
Shares in Angiotech were up three cents at $6.08 in trading on the Toronto Stock Exchange on Wednesday.
http://canadianpress.google.com/article/ALeqM5gDAGhqtFx22_i9IFV-xUa2RNXqYw
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