SURMODICS BUYS INNORX

SurModics has bought InnoRx, saying it hopes to expand in markets for the treatment of eye diseases. Prior to the purchase, SurModics had held an ownership stake in InnoRx of less than 20 percent. SurModics paid approximately $4.1 million in cash and issued about 600,000 shares of SurModics stock to acquire the remaining interest in InnoRx.

The Business Journal (http://www.bizjournals.com/twincities/stories/2005/01/17/daily19.html)