BIRMINGHAM, Ala., Oct. 10 /PRNewswire-USNewswire/ -- Aeon Bioscience, Inc. today announced the recent acquisition of one of its key collaborators, Brookwood Pharmaceuticals, Inc. by SurModics, Inc., a major development in its quest to develop improvements in drug-eluting stent technology for the treatment of cardiovascular disease.
Aeon Bioscience was formed as a collaborative enterprise between Brookwood Pharmaceuticals, Inc. and Targeted Technology Ventures, LLC. Subsequent to announcing the collaboration on May 7, 2007, Brookwood was acquired on August 1, 2007 by SurModics, Inc., a leading provider of surface modification and drug delivery technologies to the healthcare industry. As a result of this acquisition, Aeon expects to benefit from SurModics' experience in developing drug delivery technologies for drug eluting stents.
Christopher E. Banas, Principal of Targeted Technology Ventures and CEO of Aeon Bioscience, said "The combined strengths of Brookwood and TTV have supplied Aeon with superior experience and talent in the use of biodegradable materials, drug delivery, vascular stent engineering, clinical testing, and the regulatory process. The addition of the SurModics team facilitates our ability to advance our technology to an even higher level, and at an accelerated pace, as we work to achieve our objective of developing a solution to the safety issues currently experienced with drug eluting stents." Dr. Paul Castella, Principal of TTV and co-founder of Aeon agrees, "We have an exceptional operating team, a renowned advisory board of international leaders in the field, and now a prominent set of added capabilities."
Dr. Arthur J. Tipton, Ph.D., President of Brookwood Pharmaceuticals,
added "We remain excited about the opportunity presented by the Aeon
technology. This collaboration will substantially benefit from the vast
experience and expertise that the SurModics organization has accumulated in
the cardiovascular market."
|SOURCE Aeon Bioscience|
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