SurModics bolsters drug delivery IP; reports strong FY08
This article was originally published in Clinica
SurModics has strengthened its drug delivery business after purchasing certain IP assets from PR Pharmaceuticals (PRP), a Fort Collins, Colorado-based specialist in injectable, biodegradable, sustained-release formulations. SurModics will gain PRP's protein delivery capabilities and its know-how in delivering injectable microparticles through smaller-gauge needles. The latter is used in ophthalmic applications – an area in which SurModics is particularly – as well as in subcutaneous or intramuscular injections. In addition to the IP, Eden Prairie, Minnesota-based SurModics will also take over several customer-paid development projects from PRP, as well as be a paid development partner for PRP's proprietary basal insulin product InsuLAR.