August 15 - August 21, 2005

August 21st: OSI Pharmaceuticals, Inc. Buying Eyetech Pharmaceuticals, Inc. For $935 Million

OSI Pharmaceuticals, Inc. and Eyetech Pharmaceuticals, Inc. today announced that they have entered into a definitive merger agreement whereby OSI has agreed to acquire Eyetech, a biopharmaceutical company that focuses on the development and commercialization of novel therapeutics to treat eye diseases. Under the merger agreement, OSI will acquire all outstanding shares of Eyetech common stock at a price of $20 per share in a combination of cash and OSI common stock, for an aggregate purchase price of approximately $935 million, representing a 43 percent premium over Eyetech's $13.99 closing share price on August 19, 2005. The merger agreement calls for 75 percent of the purchase price, or $15 per share, to be paid in cash with the remaining 25 percent to be paid in OSI common stock using an exchange ratio of 0.12275 OSI shares for each share of Eyetech. The acquisition is subject to a number of closing conditions, including Eyetech stockholder approval and regulatory approvals, and the parties expect to close the transaction by the end of 2005. Eyetech will seek stockholder approval of the transaction at a special meeting called to consider the merger, the date of which will be announced following completion of initial regulatory filings.

August 19th: Guidant to Launch New Wireless Heart Failure Communication Technology System in U.S.; Guidant Announces Full Availability of Cardiac Rhythm Management Product Line

Guidant Corporation announced U.S. Food and Drug Administration (FDA) approval of its CONTAK RENEWAL(R) 3 RF cardiac resynchronization therapy defibrillator (CRT-D) for heart failure patients and the ZOOM (R) LATITUDE(TM) programmer. The RENEWAL 3 RF CRT-D is Guidant's first wandless cardiac resynchronization therapy device. The ZOOM LATITUDE programmer is a next generation programmer designed to interface with devices that include remote monitoring capability, such as the RENEWAL 3 RF, as well as the current global implant base of Guidant devices. This wireless system is designed to save physicians and patients time during implant and at follow-up, with device interrogations that can be three times faster than Guidant's previous programmer. In addition, Guidant's wireless communication technology removes the programmer wand from the sterile implant field. Guidant plans to introduce these products in the U.S. during the fourth quarter of this year.

August 18th: Medtronic Reports Record First Quarter Revenues of $2.7 Billion; Growth in Cardiac Rhythm Management, Spinal and Diabetes Businesses Highlight First Quarter’s Results

Medtronic recorded first quarter fiscal year 2006 revenues of $2.690 billion, a 15 percent increase over the $2.346 billion recorded in the first quarter of fiscal year 2005. "Medtronic entered this fiscal year with very solid momentum and we are pleased to see that momentum continue through the first quarter," said Art Collins, chairman and chief executive officer of Medtronic. "Together, our ICD, Spinal and Diabetes businesses represented more than 50 percent of our overall revenues and collectively grew more than 25 percent over the same quarter last fiscal year." "In addition to strong growth in our largest businesses, Medtronic recently received CE Mark approval for the Endeavor stent for use in most markets outside the United States, and we are very encouraged by market acceptance of Endeavor thus far," added Collins.

August 17th: American Journal of Cardiology Study Finds TAXUS Has Lower MACE Rate than Cypher

Angiotech Pharmaceuticals, Inc. corporate partner, Boston Scientific ("BSC"), today welcomed the results of an independent study demonstrating that BSC's TAXUS(R) Express2(TM) paclitaxel- eluting stent system had lower incidents of major adverse cardiac events (MACE) than Johnson & Johnson's Cypher(R) sirolimus-eluting stent system. The results of the study were published in the August 1 edition of the American Journal of Cardiology. The study showed a safety trend in favor of TAXUS over Cypher in the cumulative one-year MACE rate, the study's primary endpoint, which was 15.6 percent for TAXUS versus 20.4 percent for Cypher. Of the three MACE components, the results favored TAXUS over Cypher in the cumulative rates of target vessel revascularization (TVR, or retreatment rate) (5.9 percent for TAXUS versus 10.3 percent for Cypher) and myocardial infarction (10 percent for TAXUS versus 14.1 percent for Cypher). For the third MACE component, cumulative mortality, the results were essentially equivalent (7.2 percent for TAXUS versus 7.7 percent for Cypher).

August 17th: Millipore acquires NovAseptic AB: broadens offering to biotech and pharmaceutical industry

Millipore Corp has completed the acquisition of over 90% of the shares of NovAseptic AB from the company's majority shareholders. Millipore is in the process of acquiring the remaining shares from the minority shareholders. NovAseptic, based in Gothenburg, Sweden, provides a range of innovative solutions for aseptic processing applications in biotech and pharmaceutical manufacturing operations. Millipore is a leading bioprocess and bioscience products and services company, organized into two divisions. The Bioprocess division offers solutions that optimize development and manufacturing of biologics. The Bioscience division provides high performance products and application insights that improve laboratory productivity.

August 16th: ProRhythm Announces Receipt of European CE Mark for HIFU Ablation System

ProRhythm, Inc., a developer and manufacturer of medical devices for the treatment of atrial fibrillation (AF) today announced it has received the European CE Mark for its High Intensity Focused Ultrasound (HIFU) Ablation System for the treatment of AF. The CE Mark certification allows ProRhythm to begin marketing its system throughout the European Union. ProRhythm's proprietary balloon catheter to treat tissue in the left atrium of the heart is used in an AF ablation procedure commonly called pulmonary vein isolation. The HIFU balloon is inserted through a vein in the leg of the patient and advanced into the left atrium. Controlled, discrete ablation lesions around the pulmonary veins, created with the HIFU catheter and controlled by ProRhythm's proprietary automated system, stop unwanted electrical impulses from disrupting the heart's normal rhythm.

August 16th: FDA Clears Siemens ARCADIS Avantic Mobile C-Arm; System Offers a Wide Range of Clinical Applications for Use in Surgery

The U.S. Food and Drug Administration (FDA) has granted Siemens Medical Solutions 510(k) clearance for the ARCADIS Avantic, a new mobile C-arm system. Siemens' new mobile surgery C-arm is the latest in the ARCADIS family, and is best suited for advanced imaging requirements in trauma and spine surgery, general surgery and urology, orthopaedic surgery and pain management, gastroenterology, and vascular surgery -- representing a capabilities milestone for the technology.

August 15th: 50 Early-Stage Orthopedic and Spine Companies to Present at Medtech Insight and Windhover Information's 'IN SPINE & ORTHOPEDICS: Strategic Partnering and Investing in Musculoskeletal Technology' Conference

Medtech Insight has announced that nearly 30 innovative young orthopedic and spine technology companies seeking funding and/or strategic partnership are already confirmed to present at the company's upcoming "IN SPINE & ORTHOPEDICS: Strategic Partnering and Investing in Musculoskeletal Technology" conference, out of the 50 companies that will present in all. IN SPINE & ORTHOPEDICS will be held at the Westin Stonebriar Resort in North Dallas on Nov. 2 and 3, prior to the 3rd Trans Atlantic Spine Congress, and is being organized in collaboration with the Texas Back Institute and the Swiss Spine Institute. The event will provide a focused, single-track forum for a select group of emerging spine and orthopedics companies to present to an audience of venture capitalists, investment bankers, corporate business development executives, and clinicians for purposes of funding, acquisition, and/or strategic partnership. In addition to new spine technologies such as dynamic stabilization and disc, nucleus, annulus repair and replacement, company presentations will include new developments in arthroscopy, soft tissue repair/replacement (e.g., cartilage, meniscus, ligaments, patch materials), image-guided surgery, joint replacement, and trauma, among others. Companies confirmed to present thus far include: Affinergy, Angstrom Medica, Axial Biotech, Biowave, CeraPedics, Clearant, CryoLife, Disc Dynamics, GMReis, HydroCision, Innovative Spinal Technologies, Kensey Nash, LDR Spine, Life Spine, MINRAD, ORTHOCON, Paradigm Spine, Pegasus Biologics, Scil Technology, Silicon Valley Medical, Spinemark, SpineVision, and Spine Wave, among many others. (For regularly updated event details, see the Medtech Insight Web site at http://www.medtechinsight.com/inspine-02.html .)