Boston Scientific, Cook to develop paclitaxel-coated stents under deal with Angiotech.
This article was originally published in The Gray Sheet
Executive Summary
BOSTON SCIENTIFIC, COOK TO EVALUATE PACLITAXEL-COATED STENTS under a three-way development pact with pharmaceutical firm Angiotech. According to terms of the deal, announced July 10, Boston Scientific and Cook each will take a 2% stake in Vancouver-based Angiotech and will make subsequent milestone payments that could make the deal worth as much as 32 mil. Canadian dollars ($23.3 mil. USD). Under the agreement, Angiotech licenses to BSC and Cook the use of paclitaxel, an anti-cancer drug, and related compounds as a coating for stents "and other endoluminal devices" used to treat vascular and gastrointestinal diseases, Angiotech says.