Brookwood Pharmaceuticals is Now SurModics Pharmaceuticals
EDEN PRAIRIE, Minnesota – March 16, 2009 – SurModics, Inc., a leading provider of drug delivery and surface modification technologies to the healthcare industry, has announced that Brookwood Pharmaceuticals, which SurModics acquired in July 2007, has been renamed SurModics Pharmaceuticals.
"Renaming our Brookwood Pharmaceuticals business unit to SurModics Pharmaceuticals reflects the successful integration of our two organizations, reinforces our plan to leverage the strengths that each location brings to the combined entity, and provides greater clarity to our medtech, pharma, and life sciences customers,” said Bruce Barclay, President and CEO of SurModics.
Earlier in SurModics’ history, the Company was focused on local drug delivery, but the successful execution of our corporate strategy has accelerated our technology leadership well beyond local drug delivery. With the acquisition of Brookwood Pharmaceuticals, now SurModics Pharmaceuticals, we are a world leader in local and systemic drug delivery with proprietary drug delivery solutions for medical device, pharmaceutical and biotech companies. An important part of the business of Brookwood was the production and sale of biodegradable polymers in the Lakeshore BiomaterialsTM Division. This production and sale of biodegradable polymers will continue within SurModics Pharmaceuticals and the polymers will be sold under the Lakeshore BiomaterialsTM brand name.
The synergies of our combined businesses are many. SurModics brings exceptional surface modification and characterization expertise, deep experience creating strategically sound patents, strong clinical knowledge in ophthalmology and cardiovascular disease, and an overall reputation as one of the leading coatings companies in the world. Brookwood brings a considerable level of expertise in parenteral drug delivery, especially in biodegradable polymers, strong relationships in the pharmaceutical industry, experience in multiple clinical areas, and exceptional capability in cGMP manufacturing, both of polymers and drug delivery products.
These core capabilities and the ability to leverage our combined drug delivery technologies have allowed us to expand into new markets. Our diversification strategy has also extended our clinical reach beyond our historical strength in cardiovascular to ophthalmology, orthopedics, oncology, neurology, diabetes, dermatology, central nervous system, pain and in vitro diagnostics, among others.
“Since 2007, SurModics Pharmaceuticals has continued to expand its offerings to customers, including expanded manufacturing facilities and expertise. The combined capabilities and resources under SurModics is enabling us to be uniquely poised to provide development and manufacturing links between discovery-level entities and clinical sites. We are excited to be a fully-integrated part of SurModics, a technology rich company, with an incredibly talented group of committed employees, and a dedicated, experienced management team that is more focused than ever on improving the health of patients around the world,” Art Tipton, President, SurModics Pharmaceuticals, and Vice President, SurModics, Inc.
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SurModics
Phil Ankeny, Senior Vice President and Chief Financial Officer
(952) 829-2700
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
