SurModics Expands In Vitro Diagnostics Product Offerings; Obtains Rights to New Products Under an Exclusive Distribution Agreement with DIARECT AG.EDEN PRAIRIE, Minn. -- SurModics, Inc. (Nasdaq:SRDX), a leading provider of surface modification and drug delivery technologies to the healthcare industry, announced today an expanded relationship with DIARECT AG. Under this new agreement, SurModics will distribute DIARECT's recombinant autoimmune antigens to in vitro diagnostics In vitro diagnostic (IVD) tests are medical tests conducted in a test tube, or more generally in a controlled environment outside a living organism. In vitro means in glass in Latin. (IVD (Interactive VideoDisc) See interactive video. ) customers on an exclusive basis in North America and on a non-exclusive basis in Japan. DIARECT is currently the exclusive distributor for SurModics' manufactured stabilization products in Europe. SurModics' line of stabilization products stabilizes proteins, such as antibodies and antigens, that are immobilized or in solution for use in a variety of IVD applications. Based in Freiburg, Germany, DIARECT is a privately-held company that specializes in the development and manufacture of antigens through sophisticated expression and purification systems. These antigens are predominantly used by the IVD industry for the development and production of diagnostic test kits to detect autoimmune diseases Autoimmune diseases A group of diseases, like rheumatoid arthritis and systemic lupus erythematosus, in which immune cells turn on the body, attacking various tissues and organs. Mentioned in: Complement Deficiencies, Premature Menopause , such as thyroid disorders (e.g., hypothyroidism hypothyroidism: see thyroid gland. , Graves' disease Graves' disease: see thyroid gland. ) and systemic lupus erythematosus Systemic Lupus Erythematosus Definition Systemic lupus erythematosus (also called lupus or SLE) is a disease where a person's immune system attacks and injures the body's own organs and tissues. Almost every system of the body can be affected by SLE. ("lupus"). "SurModics' distribution of DIARECT's recombinant autoimmune antigens in North America and Japan demonstrates our commitment to providing compelling technologies and products for the IVD market," said Bruce Barclay, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of SurModics. "The antigens developed by DIARECT are a natural extension of our stabilization business. Both product lines are considered high-value-added components of diagnostic test kits, and provide IVD manufacturers with high levels of quality and reproducibility, which are needed to ensure consistent results. DIARECT's substantial know-how in protein chemistry and recombinant technologies greatly complements SurModics' capabilities. By providing additional products to our stabilization customers in these important geographies, we believe we have the potential to grow sales for both product lines. Our sales and marketing teams will work together to expand the existing base of business and provide our customers with the level of technical service they require to be successful. Today's announcement is another step in the development of our in vitro in vitro /in vi·tro/ (in ve´tro) [L.] within a glass; observable in a test tube; in an artificial environment. in vi·tro adj. In an artificial environment outside a living organism. business. The DIARECT agreement serves as an excellent complement not only to our stabilization business, but also to our cell culture opportunity working in concert with Donaldson and Corning." "SurModics is the gold standard for protein stabilization products," said Bodo Liedvogel, Ph.D., CEO of DIARECT. "We are very pleased to have SurModics distribute our high quality antigens in North America. We believe the strong overlap with SurModics stabilization customer base will allow our antigen products to quickly reach the broad IVD market." Antigens (which are proteins, nucleoproteins or nucleic acids Nucleic acids The cellular molecules DNA and RNA that act as coded instructions for the production of proteins and are copied for transmission of inherited traits. ) are crucial components of diagnostic test kits for autoimmune and infectious disease Infectious disease A pathological condition spread among biological species. Infectious diseases, although varied in their effects, are always associated with viruses, bacteria, fungi, protozoa, multicellular parasites and aberrant proteins known as prions. detection. Due to the lack of high-quality antigens from natural sources, DIARECT produces these proteins and other components using biotechnological methods. They have strong capabilities in baculovirus/Sf9 expression system for the production of recombinant human autoantigens, and E. coli E. coli: see Escherichia coli. E. coli in full Escherichia coli Species of bacterium that inhabits the stomach and intestines. E. coli can be transmitted by water, milk, food, or flies and other insects. systems are also established for particular expression tasks. SurModics has also recently expanded its distribution efforts of in vitro diagnostics products in Japan. Effective this month, COSMO BIO Co., Ltd. will be a non-exclusive distributor in Japan for SurModics' stabilization products, including the antigens from DIARECT. About SurModics, Inc. SurModics, Inc. is a leading provider of surface modification technologies in the areas of biocompatibility biocompatibility the quality of not having toxic or injurious effects on biological systems. biocompatibility 1. The extent to which a foreign, usually implanted, material elicits an immune or other response in a recipient 2. , site specific drug delivery, biological cell encapsulation, and medical diagnostics. SurModics partners with the world's foremost medical device, pharmaceutical and life science companies to bring innovation together for better patient outcomes. Recent collaborative efforts include the implementation of SurModics' Bravo(TM) drug delivery polymer matrix as a key component of the first-to-market drug-eluting coronary stent coronary stent Intracoronary stent Cardiology An expandable tubular device which can be inserted percutaneously, and left within a coronary artery lumen to maintain its patency Pros Clinical and angiographic outcomes are better with intracoronary artery stent . SurModics is also active in the ophthalmology market with a sustained drug delivery system that is currently in human trials for treatment of retinal disease. A significant portion of SurModics' revenue is generated by royalties earned from the sale of our customers' commercial products. SurModics is headquartered in Eden Prairie, MN. More information about the company can be found at www.surmodics.com. The content of SurModics' web site is not part of this release or part of any filings the company makes with the SEC. About DIARECT AG DIARECT AG, a protein-focused biotechnology company located in Freiburg, Germany, specializes in the development and manufacturing of high-quality components for diagnostic and pharmaceutical companies worldwide. Over the last decade DIARECT has not only become a major protein - especially antigen - manufacturer for immunodiagnostic immunodiagnostic pertaining to diagnosis by immune reactions. test systems but also offers its expertise for the production of specialized proteins tailored to the needs of global customers. Forward Looking Statements Certain statements contained in this press release may be deemed to be forward-looking statements under federal securities laws, and SurModics intends that such forward looking statements be subject to the safe harbor created thereby. Factors that may cause actual results to differ from the forward-looking statements include those described in the "Risk Factors" and other sections of SurModics' filings with the Securities and Exchange Commission. SurModics does not undertake an obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. |
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