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

Subscribe to our email news alerts

Featured jobs

PMHub

Add my company
The Difference Collective

Welcome to the Difference Collective – a healthcare communications team of 80+ talented experts who Deliver Differently. We’re purpose-built around...

Latest intelligence

Infographic: Therapy Watch Hyperlipidaemia
Our latest infographic offers an introduction to the real-world insights collected by our Hyperlipidaemia study....
Article: The rise of the healthcare influencer
In our latest article for Pharmaphorum Deep Dive, we explore the opportunities and benefits for healthcare companies in the online influencer space....
Top-10 Reasons Why You Should be Adding Asynchronous Virtual Touchpoints Between Your Real-time Meetings
...