Angiotech, Cook amend licensing deal

The companies amended a 1997 deal under which Cook (Bloomington, Ind.) received a co-exclusive, worldwide license from Angiotech (TSE:ANP; ANPI) to use paclitaxel in stents and other endoluminal devices to treat vascular and gastrointestinal diseases. The amendment reflects Cook's decision to exit the coronary vascular field and to focus on peripheral vascular and gastrointestinal stents.

As amended, ANP will pay Cook a $25 million fee in exchange for an increased royalty rate on sales of paclitaxel-eluting peripheral vascular stents. Cook and ANP also extended their deal in the fields of peripheral and gastrointestinal products. ...