EDEN PRAIRIE, Minn., Jan 23, 2004 (BUSINESS WIRE) -- SurModics, Inc. (Nasdaq:SRDX), a leading provider of surface modification solutions for medical device manufacturers, today announced that it will host a live Webcast of its annual meeting on Monday, January 26, at 4 p.m. CT.

At the meeting, Eugene de Juan, Jr., M.D., chairman of InnoRx, Inc., an Alabama-based drug delivery company developing novel therapies for the ophthalmology market, will give a presentation on InnoRx's drug delivery system, which utilizes SurModics' polymer matrix technology for the site-specific release of a drug to treat ocular diseases. SurModics signed a license agreement with InnoRx in fiscal 2003 and is collaborating with the company on the development of this product.

In addition, Dale Olseth, SurModics' chairman and chief executive officer, Bruce Barclay, president and chief operating officer, and Phil Ankeny, vice president and chief financial officer, will discuss financial results and achievements for the fiscal year ended September 30, 2003, and results from the first quarter of fiscal 2004, as well as a discussion of the company's strategic plan for future growth.

To access the Webcast, go to the investor relations portion of the company's Web site, www.surmodics.com, on the day of the annual meeting and click on the Webcast icon. In addition, the annual meeting audio and slide presentation will be archived on the company's Web site following the meeting.

About SurModics, Inc.

SurModics, Inc., a leading provider of surface modification technology, licenses its patented coating processes to medical device manufacturers around the world. A significant portion of SurModics' revenue is generated through royalties on the sale of coated products. SurModics' Internet address is www.surmodics.com.

SOURCE: SurModics, Inc.

SurModics, Inc., Eden Prairie Phil Ankeny, 952-829-2700