Surmodics (SRDX +3.5%) announces CE Mark certification of its SurVeil drug-coated balloon used to treat peripheral artery disease (PAD).
The action triggers a $10.8M milestone payment from exclusive licensee Abbott (ABT +0.9%). Under the terms of the agreement, SRDX is responsible for manufacture and supply.
The device is not yet available in the U.S.
https://seekingalpha.com/news/3581155-surmodics-surveil-device-ce-markd
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