(Vancouver, Canada) announced that the company has broadened its strategic alliance with Baxter Healthcare Corporation, granting Baxter the right to manufacture the surgical sealant product, CoSeal, and the surgical anti-adhesive product, Adhibit.
On February 25, 2003, Angiotech announced a strategic alliance entitling Baxter to worldwide (excluding Japan and certain other territories) sales, marketing and distribution rights for CoSeal and Adhibit. The transaction will include an upfront fee of approximately CDN$12 million and further payments up to CDN$22 million.