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news.Angiotech Pharmaceuticals and Symphony Medical have entered into an exclusive licensing agreement to employ one of Angiotech's proprietary PEG-based biomaterials as part of a prophylactic therapy envisioned to mitigate the onset of post-operative atrial fibrillation, for patients undergoing coronary artery bypass grafting and cardiac valve surgeries.
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Under the terms of the agreement, Angiotech has been granted an equity position in Symphony Medical in exchange for the exclusive license of Angiotech’s technology in the field of post-operative atrial fibrillation (POAF). In addition, Angiotech will receive a royalty on end-user product sales should the product receive regulatory approval and is commercialized.
Bill Hunter, president and CEO of Angiotech, said: “Our innovative use of cutting edge, site-specific therapy has been central to the development of coronary and peripheral drug-eluting stents, anti-restenosis therapy in bypass surgery and hemodialysis access procedures, and more recently, coronary stem cell therapy and treatments for arrhythmias following open heart surgery.”