Biotech Values

[Biowatch]

SRDX Yes their platform is promising for this therapeutic area, as discussed previously. Does the $20 million up front and everything else on the back end seem like a minor investment on MRK's part in your opinion?

It doesn't seem like a resounding endorsement by MRK.

"SurModics will receive an up front licensing fee of $20 million and will be eligible to receive up to an additional $288 million in fees and development milestones associated with the successful product development and attainment of appropriate U.S. and EU regulatory approvals for these new combination products. In addition, Merck will reimburse SurModics for its development activities, and SurModics will be responsible for the manufacture and supply of clinical and commercial products. SurModics will also receive royalties on product sales."