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Angiotech Pharmaceuticals, Inc.

This article was originally published in The Gray Sheet

Executive Summary

Developer of medical device coatings and treatments for chronic inflammatory diseases prices secondary offering of 1.75 mil. common shares at $53.50 per share for anticipated gross proceeds of $93.6 mil. The Vancouver, British Columbia firm will use the money to fund ongoing evaluation of its systemic paclitaxel drug for secondary progressive multiple sclerosis and other development expenses. The offering is expected to close March 22 (1"The Gray Sheet" Feb. 28, p. 11)
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