Surmodics Buys Southern Research Institute's Brookwood for $40M; Pledges Not to Relocate | GenomeWeb
Brookwood Pharmaceuticals, a drug-delivery spinout of the Southern Research Institute, has been acquired by Surmodics for $40 million in cash, Southern Research and Surmodics said last week.
 
According to Southern Research, the one-time payment of $40 million — which could eventually balloon to as much as $62 million based on the achievement of certain milestones — is the largest one-time payment in Southern Research’s history.
 

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