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Bioengineering
SurModics Acquires BioFX Laboratories
August 31st, 2007
SurModics, Inc. (Nasdaq: SRDX), a leading provider of surface modification and drug delivery technologies to the healthcare industry, announced that it has acquired BioFX Laboratories, Inc., a provider of substrates to the in vitro diagnostics industry, for $11.3 million in cash at closing and up to an additional $11.4 million in cash upon the successful achievement of specified revenue targets. BioFX Laboratories is a leading manufacturer of substrates, a critical component of diagnostic test kits used to detect and signal that a certain reaction has taken place. BioFX offers both colorimetric and chemiluminescent substrates, as well as other products for use in in...
Source: Drug Week (2007-08-31)
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