Please login to the form below

Not currently logged in
Email:
Password:

SurModics buys Brookwood Pharmaceuticals

SurModics acquires Brookwood Pharmaceuticals from Southern Research Institute for USD 40m to gain access to polymer microparticles technology

SurModics, a US-based surface modification and drug delivery technology company, has acquired Brookwood Pharmaceuticals from Southern Research Institute.

SurModics paid USD 40m in cash at closing and could pay up to an additional USD 22m in cash upon the successful achievement of certain revenue targets and development, regulatory and other milestones associated with customer projects.

Goldman, Sachs served as financial advisor to SurModics in this transaction, while Southern Research Institute was represented by Stonecroft Capital.

Brookwood is a US drug delivery company which specialises in polymer based enabling technologies and has particular strength in proprietary injectable microparticles and implant technology. Brookwood racked up USD 12.7m in revenue and strong year-over-year growth in 2006, mostly from R&D fees.

The company has nearly 30 development projects targeting a number of key clinical indications in the diabetes, oncology, ophthalmology, cardiovascular, orthopaedics, central nervous system and alcoholism markets.

1st August 2007

Share

Featured jobs

Subscribe to our email news alerts

PMHub

Add my company
Six Degrees Medical Communication

Partnering with top global pharmaceutical companies, we push the boundaries to create meaningful, impactful and lasting learning opportunities. We leverage...

Latest intelligence

Products come and go, but a pharma company’s most valuable, durable asset is its reputation, writes Duncan Mackenzie-Reid and Simon Grist
...
Erik
A quest for innovative solutions
UCB looks to the future through a PRISM...
Big data, privacy and the rise of genomic testing
Blue Latitude Health speaks to Johan Christiaanse, Marketing Director at BGI, to find out how the medical profession can overcome one of the major barriers to precision medicine – big...

Infographics