Replies to post #1337 on SurModics Inc (SRDX)

[aslan2772]

Re: carbonic anhydrase inhibitors (CAIs)

Thanks Democritus.

[DewDiligence]

>In the CC announcing the SRDX-MRK collaboration agreement, Paul Lopez stated that the relationship had begun over two years ago... This was well before the acquisition of Sirna Therapeutics by MRK in Oct 2006. Thus, I don't think that Sirna-027 is the drug that MRK will put on the I-vation implant first.<

That’s a reasonable inference. However, MRK could yet be interested in marrying Sirna-027 to I-vation. Investors have a simple way to track this: If MRK does not make a move to buy out AGN’s interest in Sirna-027 fairly soon, it almost certainly means that MRK is not contemplating a Sirna-027+I-vation combination.

p.s. Thanks for the info on Dorzolamide.

[Democritus_of_Abdera]

SRDX’s current web page discussing the rationale for “sustained drug delivery in ophthalmalogy” notes the potential value of the company’s technology for treatment of glaucoma; i.e.

“SurModics' scientists and engineers are developing systems to broaden the array of technical solutions to include intravitreal drug delivery, subretinal drug delivery , and other novel drug delivery methods to treat additional diseases of the eye, e.g., glaucoma.”

I have been looking for such a statement following announcement of the Merck Agreement with SurModics. Merck might want to put dorzolamide (Trusopt) or its combination with timolol (Cosopt) on the I-vation platform to treat glaucoma… This innovation would facilitate patient compliance and would enhance Merck’s competitive position relative to other companies that have popular drugs for this disease (i.e. Allergan’s Lumigan, Alcon’s Travoprost, Pfizer’s Latanoprost, and Novartis’ Rescula, to name a few).

To my knowledge, glaucoma (and retinitis pigmentosa) have been noticably absent in all previous statements by SurModics when discussing the potential for sustained drug delivery paradigms in the treatment of eye diseases. For example, the prepared statement in the Jul 18, 2007 Earnings call was:

“After acquiring InnoRx, we launched our ophthalmology division and initiated a Phase I clinical trial for I-vation TA. The I-vation sustained delivery system offers considerable advantages over existing therapeutic treatments to patients suffering from Age-Related Macular Degeneration or AMD and Diabetic Macular Edema or DME. Our drug delivery system can deliver a variety of drugs to the back of the eye on a sustained release basis. It can be implanted in a minimally invasive procedure and may be removed once the drug has been fully released or in the event of complications, which any procedure is susceptible to.”

As an aside, I have watching for mention of retinitis pigmentosa because I believe that this disease might respond to RNAi strategies. Retinitis pigmentosa is sometimes due to a gene mutation which causes production of a mutated photoreceptor protein that needs to be suppressed (see: O’Reilly et al. Am J Hum Genet, 81:127, 2007). If SRDX all of a sudden started talking about retinitis pigmentosa, my curiosity would be aroused.

[DewDiligence]

Re: MK-0140

I’m surprised no here commented on the reference to
MRK’s MK-0140 on the CC Q&A. SRDX refused to
comment, of course, but this topic strikes me as worthy
of message-board speculation.

Here is what the analyst was talking about:

http://www.sec.gov/Archives/edgar/data/64978/000095012307016516/y43795y43795z0084.gif

MK-0140 is the sixth drug in the second column from
the left, and it is MRK’s only disclosed ophthalmology
drug in clinical development.