Abbott (NYSE:ABT) is slated to pay $25 million upfront for the global commercialization rights to Surmodics‘ (NSDQ:SRDX) SurVeil drug-coated balloon, the companies announced today.
The company’s drug-device combo, which is in pivotal trials in the U.S., is designed to treat peripheral artery disease in the superficial femoral artery. According to the deal, Abbott could also negotiate agreements for Surmodics’ below-the-knee and arteriovenous fistula drug-coated balloons, which are still in pre-clinical development.
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