EDEN PRAIRIE, Minn.--(BUSINESS WIRE)--March 13, 2006--SurModics, Inc. (Nasdaq:SRDX), a leading provider of surface modification and drug delivery technologies to the healthcare industry, announced today that Michael J. Shoup has joined the company as Vice President of Quality, Regulatory and Clinical Affairs. Mr. Shoup has more than 20 years of experience in quality assurance and manufacturing, including over 15 years in the medical device industry at St. Jude Medical, Acorn Cardiovascular and Boston Scientific SciMed. Most recently, he was Director of Quality and Design Assurance for St. Jude Medical's Cardiac Surgery Division.
"Mike brings strong skills in the areas of quality assurance and manufacturing and a solid customer orientation, all of which will assist us in optimizing our quality, regulatory and clinical capabilities," said Bruce Barclay, President and Chief Executive Officer. "His extensive experience in the medical device industry working in both established and start-up companies will make him a valuable resource within the organization and to our customers. We are pleased to welcome him to the senior management team."
"I am thrilled to be joining SurModics," commented Mr. Shoup. "The company has cutting edge technologies that are highly valued by customers, and its employees have a distinguished reputation as innovators and partners. I look forward to being part of the SurModics team and contributing to its future successes."
Mr. Shoup holds a bachelor's degree in mechanical engineering from the University of Minnesota and earned his M.B.A. with a manufacturing systems concentration from the University of St. Thomas. He teaches medical device design and manufacturing as an adjunct professor in the School of Engineering at St. Thomas, and regularly lectures for the Center for Business Excellence.
About SurModics, Inc.
SurModics, Inc. is a leading provider of surface modification technologies in the areas of biocompatibility, site-specific drug delivery, biological cell encapsulation, and medical diagnostics. SurModics partners with the world's foremost medical device, pharmaceutical and life science companies to bring innovation together for better patient outcomes. Recent collaborative efforts include the implementation of SurModics' Bravo(TM) drug delivery polymer matrix as a key component of the first-to-market drug-eluting coronary stent and the use of the CELLabration(TM) encapsulation system as an immunoprotective coating for implantable human islet cells. SurModics is also active in the ophthalmology market with a sustained drug delivery system that is currently in human trials for treatment of retinal disease. A significant portion of SurModics' revenue is generated by royalties earned from the sale of our customers' commercial products. SurModics is headquartered in Eden Prairie, MN. More information about the company can be found at www.surmodics.com. The content of SurModics' web site is not part of this release or part of any filings the company makes with the SEC.
Forward Looking Statements
Certain statements contained in this press release may be deemed to be forward-looking statements under federal securities laws, and SurModics intends that such forward looking statements be subject to the safe harbor created thereby. Factors that may cause actual results to differ from the forward-looking statements include those described in the "Risk Factors" and other sections of SurModics' filings with the Securities and Exchange Commission. SurModics does not undertake 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. Phil Ankeny, 952-829-2700 SOURCE: SurModics, Inc.