Abbott Inks Deal for Surmodics’ Drug-Coated Balloon

Abbott entered into an agreement with Surmodics giving Abbott exclusive worldwide commercialization rights for Surmodics' SurVeil drug-coated balloon to treat the superficial femoral artery, which is currently being evaluated in a U.S. pivotal clinical trial.

The two companies will collaborate on product development, clinical trials and regulatory activities to obtain marketing approval in the U.S. and Europe.

Upon the regulatory approval of the device, Surmodics will be responsible for the manufacture and supply of clinical and commercial quantities of the product.