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SurModics in ophthalmic delivery agreement with Roche and Genentech
November 2009
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EDEN PRAIRIE, Minn.SurModics Inc., a provider of drug delivery and surface modification technologies to the healthcare industry, announced in October that it has signed an agreement allowing Roche and Genentech Inc. to use its proprietary biodegradable microparticles drug delivery system to develop and commercialize a sustained drug delivery formulation of Lucentis (ranibizumab injection). The agreement further provides Roche and Genentech with opportunities to develop additional compounds for the treatment of ophthalmic diseases. SurModics will receive an upfront licensing fee of $3.5 million and could be eligible to receive up to $200 million in fees and milestone payments and undisclosed royalties on product sales. Roche and Genentech will pay SurModics for its development services and have the right to obtain manufacturing services from SurModics.
 
           
 

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