SurModics acquires Brookwood for $40M in cash
SurModics has acquired fellow USA-based drug-delivery specialist Brookwood Pharmaceuticals from Southern Research Institute for $40.0 million in cash at closing and up to an additional $22.0 million in cash upon the successful achievement of specified milestones. Brookwood provides its proprietary polymer-based technologies to firms developing improved pharmaceuticals. The company has particular strength in proprietary injectable microparticles and implant technology, both of which are based on biodegradable polymers, to provide sustained drug delivery.
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