Merck, SurModics end collaboration agreement

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.”