AngioDynamics to become Bioniche Pharma's exclusive U.S. distributor of Sotradecol for sclerotherapy

By Lisa Kerner

Charlotte, N.C., July 13 - AngioDynamics, Inc. amended its agreement with Bioniche Pharma Group Ltd. to become the sole distributor of Sotradecol for the treatment of small, uncomplicated varicose veins and other vascular indications in all markets in the United States, including physicians, hospital pharmacies, group purchasing organizations and wholesalers.

Bioniche has agreed to terminate its relationships with other parties who sell or distribute Sotradecol in the United States.

Under the previous agreement, sales were limited to interventional radiologists, vascular surgeons, general surgeons and certain other physician specialties.

Sotradecol is a sodium tetradecyl sulfate injection used in sclerotherapy, a non-surgical procedure to treat spider veins.

AngioDynamics estimates the U.S. sclerotherapy market to be about $70 million. The amended agreement is expected to result in incremental sales of Sotradecol of at least $3 million in fiscal 2007.

"This amended agreement allows us to provide greater treatment options to more physicians, helping them to better serve their patients who suffer from varicose veins," AngioDynamics president and chief executive officer Eammon P. Hobbs said in a company news release.

"In addition to our laser system for the treatment of large varicose veins, we can now offer Sotradecol to all physicians in the United States for the treatment of smaller veins."

Located in Queensbury, N.Y., AngioDynamics is a medical device company specializing in therapeutic and diagnostic products for the treatment of peripheral vascular disease.

Based in London, Ont., Bioniche Pharma develops, manufactures and distributes sterile injectable pharmaceuticals in vials, ampoules and pre-filled syringes.

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