Angiotech, CABG Sign License Deal for Paclitaxel

Angiotech Pharmaceuticals said it has entered into an exclusive license agreement with CABG Medical to use the Canadian company's paclitaxel drug technology with coronary bypass surgery. Under the deal, Minneapolis-based CABG will have the right to use Angiotech's technology to treat heart surgery-related diseases with paclitaxel, using CABG coronoray artery bypass grafts. Angiotech said it will receive a warrant to purchase 1.26 million CABG shares, exercisable at 1 cent a share.

Metro News (http://www.metronews.ca/reuters_business.asp?id=63391)