August 15, 2017 / 12:47 PM / 2 years ago

BRIEF-Surmodics enters agreement with Baim Institute For Clinical Research​

Aug 15 (Reuters) - Surmodics Inc:

* Says ‍on August 11 entered into a clinical trial services agreement with Baim Institute For Clinical Research, Inc - sec filing ​

* Surmodics - as per agreement, Baim will serve as co’s clinical research organization to assist co with administration of transcend clinical trial​

* Surmodics - ‍transcend trial is a clinical trial intended to evaluate surveil drug-coated balloon for treatment of peripheral artery disease in upper leg​

* Surmodics - ‍as per agreement, co will make payments to baim for services rendered, costs incurred, and upon completion of certain specified milestones​

* ‍estimated total payments to Baim by company under agreement will be in range of approximately $26.0 million to $33.0 million​

* ‍estimate that total cost of transcend clinical trial will range between $32 million to $40 million over next several years​ Source text - bit.ly/2uKrMoj Further company coverage:

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