<SUBMISSION>
<ACCESSION-NUMBER>0000950134-04-017920
<TYPE>8-K
<PUBLIC-DOCUMENT-COUNT>1
<PERIOD>20041115
<ITEMS>1.01
<FILING-DATE>20041119
<DATE-OF-FILING-DATE-CHANGE>20041119
<FILER>
<COMPANY-DATA>
<CONFORMED-NAME>SURMODICS INC
<CIK>0000924717
<ASSIGNED-SIC>6794
<IRS-NUMBER>411356149
<STATE-OF-INCORPORATION>MN
<FISCAL-YEAR-END>0930
</COMPANY-DATA>
<FILING-VALUES>
<FORM-TYPE>8-K
<ACT>34
<FILE-NUMBER>000-23837
<FILM-NUMBER>041157535
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>9924 W 74TH ST
<CITY>EDEN PRAIRIE
<STATE>MN
<ZIP>55344
<PHONE>6128292700
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>9924 WEST 74TH ST
<CITY>EDEN PRAIRIE
<STATE>MN
<ZIP>55344
</MAIL-ADDRESS>
<FORMER-COMPANY>
<FORMER-CONFORMED-NAME>BSI CORP
<DATE-CHANGED>19970506
</FORMER-COMPANY>
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<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>c89951e8vk.htm
<DESCRIPTION>FORM 8-K
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<P align="center" style="font-size: 14pt"><B>SECURITIES AND EXCHANGE COMMISSION</B>

<DIV align="center" style="font-size: 12pt"><B>Washington, D.C. 20549</B>
</DIV>

<P align="center" style="font-size: 18pt"><B>FORM 8-K</B>


<P align="center" style="font-size: 10pt">CURRENT REPORT<BR>
Pursuant to Section&nbsp;13 or 15(d) of the<BR>
Securities Exchange Act of 1934



<P align="center" style="font-size: 10pt">Date of Report (Date of earliest event reported): November&nbsp;15, 2004


<P align="center" style="font-size: 24pt"><B>SurModics, Inc.</B>

<DIV align="center" style="font-size: 10pt">(Exact name of Registrant as Specified in its Charter)</DIV>


<P align="center" style="font-size: 10pt">Minnesota<BR>
(State or Other Jurisdiction of Incorporation)


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    <TD align="center" valign="top">0-23837<BR>
(Commission File Number)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">41-1356149<BR>
(IRS Employer<BR>
Identification No.)</TD>
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<P align="center" style="font-size: 10pt">9924 West 74<SUP>th</SUP> Street<BR>
Eden Prairie, Minnesota 55344<BR>
(Address of Principal Executive Offices and Zip Code)



<P align="center" style="font-size: 10pt">(952)&nbsp;829-2700<BR>
(Registrant&#146;s telephone number, including area code)



<P align="center" style="font-size: 10pt">Not Applicable<BR>
(Former Name or Former Address, if Changed Since Last Report)


<P align="left" style="font-size: 10pt">Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions:

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</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Written communications pursuant to Rule&nbsp;425 under the Securities Act (17 CFR 230.425)</TD>
</TR>

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    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><FONT face="Wingdings">&#111;</FONT>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Soliciting material pursuant to Rule&nbsp;14a-12 under the Exchange Act (17 CFR 240.14a-12)</TD>
</TR>

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    <TD align="left" valign="top">Pre-commencement communications pursuant to Rule&nbsp;14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</TD>
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    <TD align="left" valign="top">Pre-commencement communications pursuant to Rule&nbsp;13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</TD>
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<TR><TD></TD><TD colspan="8"><A HREF="#000">Item&nbsp;1.01 Entry into a Material Definitive Agreement.</A></TD></TR>
<TR><TD colspan="9"><A HREF="#001">SIGNATURES</A></TD></TR>
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<P align="left" style="font-size: 10pt"><B>Item&nbsp;1.01 Entry into a Material Definitive Agreement.</B>


<P align="left" style="font-size: 10pt">On November&nbsp;15, 2004, the Compensation Committee of the Board of Directors of
SurModics, Inc. (&#147;the Company&#148;) adopted the FY 2005 SurModics Bonus Plan (the
&#147;Plan&#148;). Executive officers and other employees of the Company participate in
the Plan. The Plan has two components &#151; corporate objectives and business unit
or department objectives, but no bonus will be paid if a minimum corporate
objective is not met even if the business unit/department objectives are met.
Under the corporate objectives component of the Plan, if certain revenue or
earnings per share levels are achieved in fiscal year 2005 , a participant will
receive a bonus in an amount to be calculated in accordance with the terms of
the Plan with the exact amount dependent on the actual financial results
achieved and the position of such participant with the Company. In addition,
for most participants certain objectives for each business unit or department
were also set, with at least one of the objectives for each business unit tied
to revenue. If the business unit or department objectives for a participant
are also met, the participant is entitled to an increase in his/her bonus. In
the case of an executive officer, the maximum aggregate bonus under the Plan,
including all components, is 26.67% of the officer&#146;s base salary for fiscal
year 2005.

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<DIV align="left"><A NAME="001"></A></DIV>

<P align="center" style="font-size: 10pt">SIGNATURES



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.

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    <TD colspan="3">SURMODICS, INC.<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
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    <TD>&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000">/s/ Philip D. Ankeny</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD>Date: November 19, 2004&nbsp;</TD>
    <TD valign="top">Name:&nbsp;&nbsp;</TD>
    <TD colspan="2">Philip D. Ankeny&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD>&nbsp;</TD>
    <TD valign="top">Title:&nbsp;&nbsp;</TD>
    <TD colspan="2">Chief Financial Officer&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
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    <TD colspan="5">&nbsp;</TD>
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