Orthovita, Angiotech enter into license agreement for Vitagel surgical hemostat

By Elaine Rigoli

Tampa, Fla., March 21 - Orthovita, Inc. has entered into a license agreement with Angiotech Pharmaceuticals, Inc. for Vitagel, a surgical hemostat used in surgical procedures as an adjunct to hemostasis when control of bleeding by ligature or conventional procedures is ineffective or impractical.

Vitagel is being targeted to address a market estimated to be about $700 million worldwide, according to a company news release.

The key terms of this agreement include the completion of the contractual transfer of manufacturing responsibilities from Angiotech to Orthovita; the extension of the contract term to 2014 from 2009; and the expansion of distribution rights to Orthovita of the product in Europe and the rest of world.

Orthovita will also retain worldwide exclusive rights within orthopedics through 2014 and co-exclusive rights outside of orthopedics beginning in 2007, where Angiotech may distribute its own brand of the surgical hemostat on a co-exclusive basis outside of orthopedics, the release said.

Angiotech said it will retain exclusive rights to any drug-loaded version of the surgical hemostat.

Orthovita will manufacture the hemostat product for both companies.

Orthovita previously announced that it has submitted a pre-market approval for Vitagel to the Food and Drug Administration in November. Orthovita said it expects the FDA to make its determination in the second half of 2006.

Angiotech, located in Vancouver, B.C., develops drug-eluting medical devices and biomaterials.

Orthovita is a Malvern, Pa.-based biomaterials company that develops synthetic, biologically active, tissue engineering products for orthopedic and neurosurgical applications.

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