SurModics : Initiation by Merck & Co., Inc. of Phase IIb Clinical Trial for I-vation TA

Jun 25, 2008 - SurModics, Inc. (Nasdaq: SRDX), a leading provider of surface modification and drug delivery technologies to the healthcare industry, announced the initiation by Merck & Co., Inc. of a Phase IIb clinical trial to evaluate the safety and efficacy of SurModics' I-vation(TM) TA in patients with diabetic macular edema.
The initiation of this Phase IIb trial triggers a milestone payment of $9 million from Merck to SurModics under the companies' License and Research Collaboration Agreement announced in June 2007... SurModics' Press Release -