SurModics, a publicly traded medical-device maker, agreed to acquire Birmingham, Ala.’s Brookwood Pharmaceuticals for $40 million in cash plus milestone payments of up to $22 million. Brookwood develops polymer-based drug formulations. Bloomberg has more here.
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2:45 pm
VentureBeat » Life sciences briefing: Monday, Aug. 13, 2007 said:
[...] SurModics snaps up diagnostic-supply company BioFX for up to $22.7M — SurModics, an Eden Prairie, Minn., developer of drug formulations and other biological supplies, agreed to acquire BioFX Laboratories of Owings Mills, Md., for $11.3 million in cash and milestone payments worth up to $11.4 million. The release is here. The acquisition is the second for SurModics this month; it bought out Brookwood Laboraties on Aug. 2 (our coverage is here). [...]