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SurModics (SRDX) Makes Strategic Investment In ThermopeutiX, Inc.; SurModics Also Licenses Hydrophilic And Hemocompatible Coating Technologies To Emerging Medical Device Company Founded By Industry Veteran


10/19/2005 5:09:48 PM

EDEN PRAIRIE, Minn.--(BUSINESS WIRE)--May 24, 2005--SurModics, Inc. (Nasdaq:SRDX), a leading provider of surface modification and drug delivery technologies to the healthcare industry, announced today that it has invested $1 million in ThermopeutiX, Inc., an early stage company developing novel medical devices for the treatment of vascular and neurovascular diseases, including stroke. In addition to the investment, SurModics has licensed its hydrophilic and hemocompatible coating technologies to ThermopeutiX for use with its devices. ThermopeutiX was co-founded by successful industry veteran Ron Solar, Ph.D., who played key roles in the start-up of a number of successful medical device companies including Advanced Cardiovascular Systems (now Guidant), SciMed Life Systems (now Boston Scientific), Versaflex Delivery Systems (now Medtronic), Occam International and, most recently, X Technologies (now Guidant).

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