(NASDAQ: ANPI)
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Haemacure Corporation (acquired by Angiotech Pharmaceuticals, Inc.) Profile
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Haemacure Corporation ("Haemacure" or "the Company") is a specialty biotherapeutics company developing human, high-value therapeutic proteins based on a patented, high-yield fibrinogen and thrombin extraction and purification technology. Haemacure's product pipeline includes two next-generation biosurgical product candidates designed for use by surgeons in the operating room to achieve rapid hemostasis. The lead candidate is Hemaseel®HMN, a pivotal phase human fibrin sealant that has already demonstrated safety and efficacy in 151 human subjects and patients. Fibrin sealants are biological products used during surgery to stop bleeding, seal tissues, and speed wound healing. The Company is also developing one of the components of its fibrin sealant, Hemaseel®Thrombin, into a separate surgical hemostatic agent that helps blood to clot. Haemacure estimates that its revenues per liter could be three to ten times industry averages, due to the high yield of its extraction technology. Moreover, in one of its two plasma fractions, the Company has identified four proteins for which it believes significant, expanding markets exist, as well as seven enzymes that may have potential as Orphan Drugs. These proteins and enzymes are at an early, investigational stage. Pending successful development, they may increase Haemacure's estimated revenues per liter of plasma. The Company also sells two FDA-cleared fibrin sealant delivery devices â€HemaSyst and HemaMyst. Over $50 million has been invested to develop Haemacure's extraction technology. The Company is headquartered in Montr©al, Canada, with a manufacturing facility in Sarasota, Florida, which has recently started processing plasma for the production of Hemaseel®HMN for pivotal Phase II/Phase III clinical trials. The Company expects the trials to begin in the first quarter 2009.
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