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Merck, SurModics end collaboration agreement

9/19/2008

EDEN PRAIRIE, Minn. Merck will discontinue the license and research collaboration agreement with SurModics that it signed last June, SurModics said Wednesday.

SurModics, which makes surface modification and drug-delivery technologies, said it had received notification from Merck about the discontinuance of the agreement. Merck’s decision requires the drug maker to pay $9 million to SurModics, in addition to the payments SurModics received under the agreement.

Merck made the decision after a review of its business and product development portfolio, not on the basis of any safety or efficacy concerns about SurModics’ I-vation TA drug-delivery system.

“We understand and respect that our partners must undertake strategic reviews which on occasion result in a change of focus or even the discontinuation of projects,” SurModics president and chief executive officer Bruce Barclay said in a statement. “Merck has been an exceptional partner, and we have a great deal of respect for their development capabilities and highly skilled personnel.”

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