Evonik Industries has reached an agreement to acquire the pharmaceuticals business of SurModics, Inc. The unit is focused on injectable drug delivery systems and includes two facilities for the development and manufacturing of polymers and drug delivery systems. The company is located in Birmingham, AL and employs approximately 80 pharmaceutical experts. The total revenues were in excess of $15 million in 2010.

The acquisition follows Evonik’s March 2011 purchase of Boehringer Ingelheim’s Resomer business and is intended to strengthen its formulation services offering and expand its North American footprint.

SurModics Pharmaceuticals designs and produces bio-resorbable polymers (marketed under the brand Lakeshore Biomaterials) and possesses expertise and facilities to carry out all phases of pharmaceutical product development up to commercial manufacturing. The business focuses on the development of injectable drug delivery systems that systemically or locally release API within a period of up to several months. Formulation approaches include bio-resorbable microparticles, nanoparticles, liposomes, implants and other polymer-based configurations.

“With the Lakeshore Biomaterials portfolio of polymers and associated range of established formulation development services, we acquire leading expertise and capabilities for the development and manufacturing of innovative drug delivery solutions. This is a consistent extension of our current pharmaceutical product and service platform,” said Dr. Jean-Luc Herbeaux, head of the Health Care business at Evonik.