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SurModics acquires InnoRx

07 Mar 2005

Executive Summary

Drug delivery company SurModics has acquired the 80% of privately held ophthalmic drug delivery firm InnoRx that it did not already own. The total consideration is $21.8mm, consisting of $4.1mm in cash and about 600k shares of SurModics' common stock (presently trading at $29.45 each), and includes earn-outs of an additional 600k common shares based on development and commercial milestones.
Deal Industry
  • Pharmaceuticals
  • Pharmaceuticals
    • Drug Delivery
      • Controlled Release
      • Site Specific
  • Medical Devices
    • Implantable Devices
Deal Status
  • Final
Deal Type
  • Acquisition
    • Acquisition of Private Biotech
    • Includes Contract
    • Partial Acquisition
    • Payment Includes Cash
    • Payment Includes Stock

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