Angiotech Pharmaceuticals, Inc. manufactures drug-coated medical devices and drug-loaded surgical implants. Its leading products are paclitaxel-eluting coronary stent designed to reduce restenosis in patients following a balloon angioplasty procedure. The Company has developed this product through its co-exclusive licensing arrangement with Boston Scientific Corporation and Cook Incorporated. In addition, Angiotech has platform technologies in the field of hydrophilic biomaterials and drug coatings, which were acquired through its acquisitions of Cohesion Technologies, Inc. and STS Biopolymers, Inc. The drug coatings include SLIP-COAT for hydrophilic lubricious coating, MEDI-COAT for drug delivery and ECHO-COAT for ultrasound visible imaging. In December 2003, the Company acquired STS Biopolymers, Inc., a private company specializing in the development and manufacture of biocompatible drug-loadable coatings for medical devices.