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SurModics Recruits Abbott To Commercialize SurVeil Drug-Coated Balloon

 
• By Reed Miller

Abbott will pay SurModics $25m upfront and up to $67m in milestones for the exclusive right to commercialization SurVeil worldwide.

Abbott Laboratories Inc. bought exclusive commercialization rights for SurModics Inc.'s SurVeil drug-coated balloon for the superficial femoral artery, as well as options to negotiate agreements for future SurModics' below-the-knee and arteriovenous fistula drug-coated balloon products, the companies announced Feb 27.

Under the terms of the agreement, Surmodics will receive $25m upfront plus up to $67m in various product development milestones

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