M&A Deal Summary

SurModics Acquires Surmodics Pharmaceuticals

On August 1, 2007, SurModics acquired life science company Surmodics Pharmaceuticals from Southern Research Institute for 40M USD

Acquisition Highlights
  • This is SurModics’ 1st transaction in the Life Science sector.
  • This is SurModics’ largest (disclosed) transaction.
  • This is SurModics’ 1st transaction in the United States.
  • This is SurModics’ 1st transaction in Alabama.
Investment Fate
  • Surmodics Pharmaceuticals was divested to a consortium of strategic buyers in 2011 for 30M USD.

M&A Deal Summary
Date 2007-08-01
Target Surmodics Pharmaceuticals
Sector Life Science
Buyer(s) SurModics
Sellers(s) Southern Research Institute
Deal Type Divestiture
Deal Value 40M USD

Target

Surmodics Pharmaceuticals

Birmingham, Alabama, United States
Surmodics Pharmaceuticals is a drug delivery company that provides its proprietary polymer based technologies to companies developing improved pharmaceutical products.

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Buyer(S) 1

Buyer

SurModics

Eden Prairie, Minnesota, United States
Category Company
Founded 1979
Sector Medical Products
Revenue 133M USD (2023)
DESCRIPTION

SurModics provides surface modification coating technologies and in vitro diagnostic (IVD) products to the healthcare industry. Its two core businesses include: Medical Device Coatings – lubricious hydrophilic coatings, hemocompatible hydrophilic coatings, and advanced drug delivery systems; and In Vitro Diagnostics (IVD) – immunoassay reagents that improve the performance of in vitro diagnostic tests as well as custom coatings and stabilization products for Molecular Diagnostic applications. Surmodics was founded in 1979 and is based in Eden Prairie, Minnesota.

DEAL STATS #
Overall 1 of 6
Sector (Life Science) 1 of 3
Type (Divestiture) 1 of 1
State (Alabama) 1 of 1
Country (United States) 1 of 4
Year (2007) 1 of 3
Size (of disclosed) 1 of 5
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-08-13 BioFX Laboratories

Owings Mills, Maryland, United States

BioFX Laboratories is a provider of substrates to the in vitro diagnostics industry. BioFX offers both colorimetric and chemiluminescent substrates, as well as other products for use in in vitrodiagnostic tests.

Buy $11M

Seller(S) 1

SELLER

Southern Research Institute

Birmingham, Alabama, United States
Category Company
Sector Life Science
DESCRIPTION

Southern Research is a not-for-profit, 501(c)(3) organization conducting basic and applied research in Alabama, Maryland, and North Carolina in the areas of drug discovery, preclinical drug development, advanced engineering, and environmental protection. Southern Research is a self-sustaining contract research organization and an incorporated affiliate of The University of Alabama at Birmingham (UAB).

DEAL STATS #
Overall 1 of 2
Sector (Life Science) 1 of 1
Type (Divestiture) 1 of 2
State (Alabama) 1 of 2
Country (United States) 1 of 2
Year (2007) 1 of 1
Size (of disclosed) 2 of 2
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-09-06 Curved Skies

Alexandria, Virginia, United States

Curved Skies LLC is a boutique aerospace company which demonstrates high altitude geospatial technologies, transitions systems to space applications, and performs sensor risk reduction studies for commercial and government clients.

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