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Agreement To Amend The Recapitalization Support Agreement

This is an actual contract by Angiotech Pharmaceuticals.

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Sectors: Biotechnology / Pharmaceuticals
Governing Law: Canada
Effective Date: November 29, 2010
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EXHIBIT 10.1

AGREEMENT TO AMEND THE RECAPITALIZATION SUPPORT AGREEMENT

THIS FIRST AMENDMENT is made as of this 29 th day of November, 2010.

WHEREAS (a) Angiotech Pharmaceuticals, Inc. (" Angiotech" ), (b) the entities listed in Schedule A (together with Angiotech, the " Companies" and each a " Company" ), and (c) each of the other Consenting Noteholders party hereto, each Consenting Noteholder being a holder of and/or investment advisor or manager with investment discretion over Subordinated Notes, executed a Recapitalization Support Agreement dated as of October 29, 2010 concerning the principal aspects of a Recapitalization of the Companies (the " Support Agreement" );

AND WHEREAS , pursuant to Section 16(n) of the Support Agreement, the Support Agreement may be modified, amended or supplemented as to any matter by an instrument in writing signed by the Companies and Consenting Noteholders that represent not less than a majority of the aggregate principal amount of Subordinated Notes;

AND WHEREAS the Consenting Noteholders party to this first amendment (the " First Amendment" ) collectively hold and/or exercise investment discretion over not less than a majority of the aggregate principal amount of Subordinated Notes;

AND WHEREAS the Companies and the Consenting Noteholders party to this First Amendment wish to amend the Support Agreement in the manner set out in this First Amendment;

NOW THEREFORE , for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the Companies and the Consenting Noteholders party hereto hereby agree as follows:

1. Capitalized Terms

Capitalized Terms that are used but not otherwise defined herein shall have the meanings ascribed thereto in the Support Agreement.

2. Consenting Noteholders Party to this First Amendment

Each Consenting Noteholder party to this First Amendment hereby represents and warrants, severally and not jointly, to each of the other parties to this First Amendment (and acknowledges that each of the other parties to this First Amendment is relying upon such representations and warranties) that as of the date he
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