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Angiotech's New Partnering Model for the Convergence Era

Angiotech Pharmaceuticals, a company that has grabbed the new paradigm of convergence by both horns, has amassed intellectual property on drugs and acquired a broad array of biomaterials. Now, to access innovative medical devices, it has embarked upon a new partnering model, and the agreement that it just signed with CABG Medical is only the first example of its new style of dealmaking.

While the major pharmaceutical and medical device companies, apart from their drug-eluting stent projects, continue to sit somewhat on the sidelines of the convergence melee, mid-sized Angiotech Pharmaceuticals Inc. (with 2004 sales of $130 million from its shares of royalties on the Boston Scientific Corp. Taxus drug-eluting stent [See Deal]) has jumped in with both hands and feet. Speaking in mid-March at "Convergence: The Drug/Device Summit," a conference organized by Bio, AdvaMed, the Pittsburgh Life Sciences Greenhouse and MedTech Insight, Windhover Information Inc., Angiotech's chief business officer Jeanne Bertonis articulated the company's strategy to bring biological solutions to bear on the shortcomings of device interventions.

That mandate sounds like it encompasses an overwhelming breadth of applications for a company that's not large, but Bertonis explains...

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