US-based SurModics will explore strategic alternatives for its SurModics Pharmaceuticals unit, with sale a possible option.
The company produces drug-delivery and surface-modification technologies to the health industry, while its pharmaceutical business provides biodegradable implant drug-delivery technologies as well as biodegradable polymers marketed under the Lakeshore Biomaterials brand.
Robert Buhrmaster, chairman of SurModic’s board of directors said: “Our pharmaceuticals business has compelling long-term growth and profitability prospects. However our board are determined that the best course of action is to explore alternatives.”
The company confirmed that its medical device drug-delivery technologies and I-vation drug-delivery platform, as well as other assets acquired from InnoRx, are not included in the process.