February 27, 2018 / 2:07 PM / 6 months ago

BRIEF-Abbott And Surmodics Announce Agreement For Next-Generation Drug-Coated Balloon

Feb 27 (Reuters) - Abbott Laboratories:

* ABBOTT AND SURMODICS ANNOUNCE AGREEMENT FOR NEXT-GENERATION DRUG-COATED BALLOON

* SURMODICS INC - ‍PURSUANT TO TERMS OF AGREEMENT, SURMODICS WILL RECEIVE A $25 MILLION UPFRONT PAYMENT​

* SURMODICS INC - ‍PURSUANT TO TERMS OF AGREEMENT, CO MAY EARN AN ADDITIONAL $67 MILLION FOR VARIOUS PRODUCT DEVELOPMENT MILESTONES​

* SURMODICS - ENTERED INTO AGREEMENT WHEREBY ABBOTT WILL HAVE EXCLUSIVE WORLDWIDE COMMERCIALIZATION RIGHTS FOR CO’S SURVEI DRUG-COATED BALLOON

* SURMODICS INC - WILL BE RESPONSIBLE FOR MANUFACTURE AND SUPPLY OF CLINICAL AND COMMERCIAL QUANTITIES OF PRODUCT​

* SURMODICS INC - ‍ABBOTT ALSO RECEIVED OPTIONS TO NEGOTIATE AGREEMENTS FOR CO’S BELOW-THE-KNEE AND AV FISTULA DRUG-COATED BALLOON PRODUCTS​ Source text for Eikon: Further company coverage:

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