SurModics Acquires CodeLink(TM) Activated Slide Business

September 30, 2008 at 4:01 PM EDT


SurModics, Inc. (Nasdaq: SRDX), a leading provider of surface modification and drug delivery technologies to the healthcare industry, announced today the acquisition of the CodeLink(TM) Activated Slide microarray business from GE Healthcare. Terms of the transaction were not disclosed.

"Our acquisition of the CodeLink Activated slide business further demonstrates our commitment to building an even stronger In Vitro Technologies business by leveraging SurModics' core competencies," said Bruce Barclay, president and CEO of SurModics. "Selling these products directly will allow us to get closer to our customers and offer a broader range of products, which is consistent with our strategic growth initiative of diversification. On the heels of our successful acquisition of BioFX Laboratories in August 2007, we continue to enhance the breadth of our In Vitro Technologies product portfolio."

CodeLink Activated Slides use SurModics' PhotoLink(R) technology to create a three-dimensional matrix that allows the attachment of biomolecules (including DNA, RNA and proteins) to form microarrays. SurModics is a pioneer in providing superior surface chemistry to the microarray field, introducing its first genomics product to the market in 1999. SurModics continues to manufacture the products, which since 2000 have been marketed by Motorola, then Amersham, and most recently by GE Healthcare under the CodeLink brand.

About SurModics, Inc.

SurModics, Inc. is a leading provider of surface modification and drug delivery technologies to the healthcare industry. SurModics partners with the world's foremost medical device, pharmaceutical and life science companies to develop and commercialize innovative products that result in improved patient outcomes. Core offerings include: drug delivery technologies (coatings, microparticles, and implants); surface modification coating technologies that impart lubricity, prohealing, and biocompatibility capabilities; and components for in vitro diagnostic test kits and specialized surfaces for cell culture and microarrays. Current efforts include a sustained drug delivery system in human trials for treatment of retinal disease and the drug delivery polymer matrix on the first-to-market drug-eluting coronary stent. SurModics is headquartered in Eden Prairie, Minnesota and its Brookwood Pharmaceuticals subsidiary is located in Birmingham, Alabama. For more information about the company, visit The content of SurModics' website is not part of this release or part of any filings the company makes with the SEC.

Safe Harbor for Forward-Looking Statements

This press release contains forward-looking statements. Statements that are not historical or current facts, including statements about beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, and important factors could cause actual results to differ materially from those anticipated, including the following: (1) our reliance on third parties (including our customers and licensees) and their failure to successfully develop, obtain regulatory approval for, market and sell products incorporating our technologies may adversely affect our business operations, our ability to realize the full potential of our pipeline, and the company's ability to achieve our fiscal 2008 corporate goals; (2) costs or difficulties relating to the integration of the businesses of Brookwood Pharmaceuticals and BioFX Laboratories with SurModics' business may be greater than expected and may adversely affect the company's results of operations and financial condition; (3) developments in the regulatory environment, as well as market and economic conditions, may adversely affect our business operations and profitability; and (4) other factors identified under "Risk Factors" in Part I, Item 1A of our Annual Report on Form 10-K for the fiscal year ended September 30, 2007, and updated in our subsequent reports filed with the SEC. These reports are available in the Investors section of our website at and at the SEC website at Forward-looking statements speak only as of the date they are made, and we undertake no obligation to update them in light of new information or future events.

Source: SurModics, Inc.