EDEN PRAIRIE, Minn.--(BUSINESS WIRE)--Jan. 13, 2004--SurModics (Nasdaq:SRDX) announced today it has signed an exclusive distribution agreement with SeraCare Life Sciences, Inc. (Nasdaq:SRLS). SeraCare will distribute SurModics' In Vitro Diagnostic Stabilization Products in the United States and Puerto Rico. SurModics' stabilization products are high-performance immunoassay and conjugate stabilizers that protect the activity of lyophilized and solubilized protein components of diagnostic kits. SurModics anticipates introducing products that stabilize microparticles and reduce their aggregation, as well as reagents that increase the performance of microarray slides.
One area of expertise for SurModics is on the research and development of high value-added critical components sold to diagnostics industry customers around the world. SeraCare expects to market and sell the SurModics products to the combined customer base of the two companies in conjunction with the broad line of biological diagnostic components SeraCare currently offers.
Commenting on the new agreement, Dale R. Olseth, Chairman and Chief Executive Officer of SurModics, stated, "This new distribution partnership is proof of our commitment to provide expert customer support wherever our products are sold. SeraCare is an excellent fit with our product line since the products they currently distribute are complementary with ours and their customer base is the same: diagnostic kit manufacturers, pharmaceutical companies, and research labs."
Michael F. Crowley, Jr., President and Chief Executive Officer of SeraCare, added, "SurModics is synonymous with product quality and innovation in the diagnostics industry. We are excited to add their stabilization product line to the products we currently offer, which include a wide variety of biological components for in vitro diagnostic use."
About SurModics, Inc.
SurModics, Inc., the leading provider of surface modification solutions, both licenses its patented coating process to medical device manufacturers around the world and manufacturers products for sale to end users. A significant portion of SurModics' revenue is generated through royalties on the sale of coated products. SurModics' Internet address is www.surmodics.com.
About SeraCare Life Sciences:
SeraCare Life Sciences, Inc. develops, manufactures, and sells innovative blood based products, services, and cell culture products for the biotechnology, pharmaceutical, and diagnostic markets. Its offerings include plasma-based therapeutic products, diagnostic products and reagents, cell culture products, specialty plasmas, and BioBank, a proprietary database of medical information and associated blood, plasma, DNA and RNA samples. For additional information about SeraCare Life Sciences, Inc., please visit the Company's web site at www.seracare.com.
Safe Harbor For Forward Looking Statements
Certain statements contained in this press release may be deemed to be forward-looking statements under federal securities laws, and both SeraCare and SurModics intend that such forward looking statements be subject to the safe harbor created thereby. Neither company undertakes an obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
CONTACT: SurModics, Inc., Eden Prairie Jane Nichols, 952-829-2719 email@example.com or SeraCare Life Sciences, Inc. Sarah Neugebauer, 760-806-8922 firstname.lastname@example.org SOURCE: SurModics, Inc.