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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
-
Drug Delivery
-
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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SurModics acquires InnoRx
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