Angiotech Pharmaceuticals, Inc. Extends Exchange Offer for Senior Floating Rate Notes

Mar 30, 2011, 10:30 ET from Angiotech Pharmaceuticals, Inc.

VANCOUVER, March 30 /PRNewswire/ - Angiotech Pharmaceuticals, Inc. ("Angiotech" or the "Company") announced today that it has extended its offer (the "Exchange Offer") to exchange new senior floating rate notes due 2013 (the "New Floating Rate Notes") for all of its outstanding Senior Floating Rate Notes due 2013 (the "Existing Floating Rate Notes") to 11:59 p.m. New York City time on April 22, 2011. The Exchange Offer was last scheduled to expire at 11:59 p.m. New York City time on March 30, 2011.

The extension of the Exchange Offer has been made to allow holders of outstanding Existing Floating Rate Notes who have not yet tendered their Existing Floating Rate Notes for exchange to do so.  As of the close of business on March 29, 2011, approximately $190,637,000 in aggregate principal amount of the Existing Floating Rate Notes had been validly tendered for exchange and not withdrawn.

Other than the extension described in this announcement, all of the terms of the Exchange Offer remain unchanged.

This announcement does not constitute an offer to sell or buy any security or a solicitation of any offer to buy securities.

About Angiotech

Angiotech Pharmaceuticals, Inc. is a global specialty pharmaceutical and medical device company. Angiotech discovers, develops and markets innovative treatment solutions for diseases or complications associated with medical device implants, surgical interventions and acute injury. To find out more about Angiotech, please visit our website at

SOURCE Angiotech Pharmaceuticals, Inc.