ForSight Labs licenses non-core ophthalmology technology from SurModics

SurModics, Inc.Mar 18 2010

SurModics, Inc. (Nasdaq: SRDX), a leading provider of drug delivery and surface modification technologies to the healthcare industry, announced today that it has entered into an agreement with ForSight Labs, LLC to license certain non-core ophthalmology technology. The technology licensed in this agreement does not include the Company’s I-vation™ drug delivery technology. While the license agreement contains an up-front license fee, milestone payments and royalties, specific terms of the agreement were not disclosed.

“We are pleased to announce this agreement with ForSight”

“We are pleased to announce this agreement with ForSight,” said Bruce Barclay, president and CEO of SurModics. “As part of our continual review of our technology portfolio, we identified these technology assets as being outside our strategic areas of focus. We are delighted to have reached an agreement with ForSight Labs, so that this technology can be further developed and potentially commercialized, for the ultimate benefit of patients and our shareholders.”