Surmodics, Abbott ink licensing deal worth up to $92M

Med-tech firm Surmodics Inc. has landed a licensing deal with health care giant Abbott Laboratories Inc. that could be worth up to $92 million, the companies announced Tuesday. Eden Prairie-based Surmodics will exclusively license its SurVeil drug-coated balloon device to Abbott (NYSE: ABT). Surmodics is testing the device as a treatment for peripheral artery disease. Under terms of the agreement, Abbott will also get rights to negotiate a licensing deal for a separate drug-coated balloon device…
Source: bizjournals.com Health Care:Biotechnology headlines - Category: Biotechnology Authors: Source Type: news