Angiotech announces redemption of its Senior Floating Rate Notes due 2013 and of Angiotech Pharmaceuticals (US), Inc.'s Senior 9% Notes due 2016

VANCOUVER, April 15, 2013 /PRNewswire/ - Angiotech Pharmaceuticals, Inc. ("Angiotech") announced that on April 12, 2013, Deutsche Bank National Trust Company (the "FRN Trustee"), issued a notice of redemption on behalf of Angiotech under the indenture to redeem $44,024,000 in aggregate principal amount of Angiotech's Senior Secured Floating Rate Notes due 2013 (the "FR Notes", CUSIP Number 034918AH5), which are all of the FR Notes that will remain outstanding following the previously announced redemption on April 17, 2013 of $16,000,000 in aggregate principal amount of the FR Notes. The redemption price for the FR Notes for which notice of redemption was issued on April 12, 2013, is equal to 100% of principal amount of the FR Notes, together with accrued and unpaid interest on the principal amount of the FR Notes to, but excluding, the redemption date, which is May 13, 2013. On April 12, 2013, Angiotech deposited the funds necessary for the redemption of all of its FR Notes into escrow with the FRN Trustee and received a discharge of the indenture governing the FR Notes.

On April 12, 2013, Deutsche Bank National Trust Company (the "9% Notes Trustee") issued a notice of redemption on behalf of Angiotech Pharmaceuticals (US), Inc. ("AUS") under the indenture to redeem $229,413,000 in aggregate principal amount of AUS's 9% Senior Notes Due 2016 (the "9% Notes", CUSIP Number 03476EAA6), which are all of the outstanding 9% Notes.  The redemption price for the 9% Notes is equal to 100% of principal amount of the 9% Notes, together with accrued and unpaid interest on the principal amount of the 9% Notes to, but excluding, the redemption date, which is May 13, 2013.  On April 12, 2013, Angiotech deposited the funds necessary for the redemption of all of its 9% Notes into escrow with the 9% Notes Trustee and received a discharge of the indenture governing the 9% Notes.

Forward Looking Statements

Statements contained in this press release that are not based on historical fact, including without limitation statements containing the words "believes," "may," "plans," "will," "estimates," "continues," "anticipates," "intends," "expects" and similar expressions, constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and constitute "forward-looking information" within the meaning of applicable securities laws. All such statements are made pursuant to the "safe harbor" provisions of applicable securities legislation. For a more thorough discussion of the risks associated with our business, see the "Risk Factors" section in our annual report for the year ended December 31, 2012 filed with the SEC on March 28, 2013 on Form 10K.

Given these uncertainties, assumptions and risk factors, investors are cautioned not to place undue reliance on such forward-looking statements. Except as required by law, we disclaim any obligation to update any such factors or to publicly announce the result of any revisions to any of the forward-looking statements contained in this press release to reflect future results, events or developments.

^©2013 Angiotech Pharmaceuticals, Inc. All Rights Reserved.

About Angiotech

Angiotech develops, manufactures and markets medical device products and technologies, primarily within the areas of interventional oncology, wound closure and ophthalmology. Our strategy is to utilize our precision manufacturing capabilities and our highly targeted sales and marketing capabilities to offer novel or differentiated medical device products to patients, physicians and other medical device manufacturers or distributors. For additional information about Angiotech, please visit our website at www.angiotech.com.

SOURCE Angiotech Pharmaceuticals, Inc.

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