SurModics and Brookwood License Hex-PLA Drug Delivery System from the University of Geneva
Nanotechnology and Injectable Drug Delivery
EDEN PRAIRIE, Minnesota – October 14, 2008 – October 14, 2008 – SurModics, Inc. (Nasdaq: SRDX), a leading provider of drug delivery technologies and surface modification to the healthcare industry, announced today that its Brookwood Pharmaceuticals, Inc. subsidiary has licensed Hex-PLA drug delivery technology from the University of Geneva. Under the agreement, Brookwood has exclusive, worldwide rights to all pharmaceutical and drug delivery applications of the technology.
Developed by the University of Geneva, School of Pharmaceutical sciences, the Hex-PLA technology is a new and promising biomaterial that can be combined with drugs to form injectable liquid formulations to achieve extended release. Additionally, this novel biomaterial may be applied to form nanoparticle-size micelles, 20 – 80 nanometers in diameter, that aid in the solubilization of poorly soluble drugs. The Hex-PLA biomaterial resorbs after drug delivery is complete.
Based on an increasing demand for self-administered, long-acting, injectable formulations, the Hex-PLA drug delivery technology was developed to meet this market need. Additionally the poly(ethylenene glycol) (PEG) version of Hex-PLA technology forms micelles that incorporates poorly soluble drugs, for the improvement of bioavailability. Hex-PLA micelles can be administered by parenteral routes such as intravenous injections, or through oral methods. Additional data is being generated to accelerate product development, and the early-stage technology of the Hex-PLA drug delivery platform is available from Brookwood.
“This license further broadens the drug delivery technology offerings of SurModics and Brookwood and complements our existing portfolio,” said Arthur J. Tipton, Ph.D., President of Brookwood Pharmaceuticals. “Our microparticle technology has demonstrated multi-day to multi-month delivery. Incorporating this Hex-PLA technology can enable long-acting, liquid injectables for all therapeutic areas. The license agreement with the University of Geneva demonstrates our commitment to offering leading-edge proprietary technologies to our customers.”
Robert Gurny, Ph.D, head of Pharmaceutical Sciences and a renowned leader in the drug delivery field, and Michael Moeller, Ph.D., are the Hex-PLA drug delivery technology innovators. Professor Gurny stated, “I am delighted we have executed this license agreement. Brookwood has exceptional capabilities in developing drug delivery products and manufacturing biomaterials. Through this collaboration, we can accelerate the development of Hex-PLA technology and expand its use into a broad range of clinical applications including oncology and ophthalmology.”
“’Hex-PLA technology broadens the technology solutions that we can offer customers in need of drug delivery products,” stated Thomas R. Tice, Ph.D., Vice President of Research, Brookwood Pharmaceuticals. “Many of the promising new drugs are peptides. They can only be administered parenterally, with injection as the preferred route. Long-acting formulations replace the need for frequent injections, and long-acting liquid injections, enabled by the Hex-PLA platform may make it possible for a patient to inject peptide doses themselves and less frequently, for instance, weekly rather than daily.”
About SurModics, Inc.
SurModics, Inc. is a leading provider of surface modification and drug delivery technologies to the healthcare industry. SurModics partners include the world’s foremost medical device, pharmaceutical and life science companies to develop and commercialize innovative products, improving patient outcomes. Core offerings include: drug delivery technologies (coatings, microparticles, nanoparticles 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. Collaborative 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 headquarters is in Eden Prairie, Minnesota and its Brookwood Pharmaceuticals subsidiary is located in Birmingham, Alabama. For more information about the company, visit www.surmodics.com. The content of SurModics’ website is not part of this release or part of any filings the company makes with the SEC.
About University of Geneva
Founded in 1559 by Jean Calvin, The University of Geneva receives worldwide recognition for basic and applied research. It is the second largest university in Switzerland with 14,500 students, including more than 38% foreigners, enrolled in various undergraduate and graduate programs. Many international rating bodies have ranked Geneva as a leader in scientific research, in particular in the fields of molecular biology, astrophysics, social sciences and economics. The University of Geneva is listed as one of the top twelve research universities in Europe, and since 2002 has been elected a member of the League of European Research-intensive Universities. The School of Pharmaceutical Sciences at the University of Geneva boasts top quality and highly active research and teaching programs. For over 30 years, researchers at the School of Pharmaceutical Sciences have been true pioneers in areas of research such as biodegradabel polymers, naocarriers and intraocular delivery systems.
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 www.surmodics.com and at the SEC website at www.sec.gov. 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.
# # #
Contact
Phil Ankeny, Senior VP and Chief Financial Officer
(952) 829-2700
Brookwood Pharmaceuticals
756 Tom Martin Drive
Birmingham, AL 35211
phone 205.917.2200
fax 205.917.2205
Or visit our Contact Page.
9924 West 74th Street
Eden Prairie, MN 55344-3523
USA
Media Contact:
Phil Ankeny
Senior Vice President and CFO
Phone: 952.829-2700
University of Geneva
Rue du Général-Dufour 24
CH-1211 Genève 4
Tel. +41 22 379 71 11
Fax +41 22 379 11 34
Contact information:
SurModics Pharmaceuticals
756 Tom Martin Drive
Birmingham, AL 35211
phone 205.917.2200
fax 205.917.2205
Or visit our Contact Page.
SurModics, Inc.
9924 West 74th Street
Eden Prairie, MN 55344-3523
USA
Media Contact:
Phil Ankeny
Senior Vice President and CFO
Phone: 952.829-2700
University of Geneva
Rue du Général-Dufour 24
CH-1211 Genève 4
Tel. +41 22 379 71 11
Fax +41 22 379 11 34
