<SUBMISSION>
<ACCESSION-NUMBER>0000950137-07-001310
<TYPE>8-K
<PUBLIC-DOCUMENT-COUNT>1
<PERIOD>20070129
<ITEMS>8.01
<FILING-DATE>20070131
<DATE-OF-FILING-DATE-CHANGE>20070131
<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>07568926
</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>
</FILER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>c11909e8vk.htm
<DESCRIPTION>CURRENT REPORT
<TEXT>
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<DIV align="center" style="font-size: 14pt; margin-top: 12pt"><B>SECURITIES AND EXCHANGE COMMISSION</B>
</DIV>

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

<DIV align="center" style="font-size: 18pt; margin-top: 12pt"><B>FORM 8-K</B>
</DIV>


<DIV align="center" style="font-size: 12pt; margin-top: 12pt"><B>CURRENT REPORT<BR>
Pursuant to Section&nbsp;13 or 15(d) of the<BR>
Securities Exchange Act of 1934</B>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt">Date of Report (Date of earliest event reported): January&nbsp;29, 2007</DIV>

<DIV align="center" style="font-size: 24pt; margin-top: 12pt"><B><FONT style="border-bottom: 1px solid #000000">SurModics, Inc.</FONT></B>
</DIV>

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



<DIV align="center" style="font-size: 10pt; margin-top: 18pt">Minnesota<BR>
(State or Other Jurisdiction of Incorporation)
</DIV>

<DIV align="center">
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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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</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt">9924 West 74<SUP style="font-size: 85%; vertical-align: text-top">th</SUP> Street<BR>
Eden Prairie, Minnesota 55344<BR>
(Address of Principal Executive Offices and Zip Code)
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt">(952)&nbsp;829-2700<BR>
(Registrant&#146;s telephone number, including area code)
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt">Not Applicable<BR>
(Former Name or Former Address, if Changed Since Last Report)
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">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:
</DIV>


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    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><FONT face="Wingdings">&#111;</FONT> Written communications pursuant to Rule&nbsp;425 under the Securities Act (17 CFR 230.425)</TD>
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    <TD style="font-size: 6pt">&nbsp;</TD>
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    <TD><FONT face="Wingdings">&#111;</FONT> Soliciting material pursuant to Rule&nbsp;14a-12 under the Exchange Act (17 CFR 240.14a-12)</TD>
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    <TD style="font-size: 6pt">&nbsp;</TD>
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    <TD width="1%">&nbsp;</TD>
    <TD><FONT face="Wingdings">&#111;</FONT> 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 width="1%">&nbsp;</TD>
    <TD><FONT face="Wingdings">&#111;</FONT> 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;8.01 Other Events.</A></TD></TR>
<TR><TD colspan="9"><A HREF="#001">SIGNATURES</A></TD></TR>
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<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;8.01 Other Events.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On January&nbsp;29, 2007, the Board of Directors of SurModics, Inc. (the &#147;Company&#148;) approved an
amendment to the Company&#146;s previously announced share repurchase program. The previously announced
share repurchase program was approved in September&nbsp;2006 and authorized the Company to repurchase up
to $35&nbsp;million of the Company&#146;s outstanding common stock and up to 1&nbsp;million shares. In November
2006 pursuant to the previous authorization, the Company entered into a Rule&nbsp;10b5-1 agreement and
purchased $17.5&nbsp;million of its common stock at an average price of $32.87 per share.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The amendment to the share repurchase program authorizes the company to repurchase up to $35
million of the Company&#146;s outstanding common stock without restriction as to the total number of
shares being repurchased. On January&nbsp;31, 2007, and pursuant to the amended share repurchase
program, the Company entered into a Rule&nbsp;10b5-1 agreement (the &#147;Agreement&#148;) with a broker to
facilitate the repurchase of up to $17.5&nbsp;million of its outstanding common stock remaining under
the $35&nbsp;million repurchase authorization. Under the Agreement, purchases may be made in open
market transactions and shall comply with Rules&nbsp;10b5-1 and 10b-18 under the Securities Exchange Act
of 1934. A Rule&nbsp;10b5-1 trading plan allows the company to repurchase its common stock in the open
market during periods in which stock trading is otherwise closed for the company. All of the
repurchased shares will be retired. This 10b5-1 trading plan is expected to extend over the next
two to four months.
</DIV>

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<DIV align="center" style="font-size: 10pt; margin-top: 18pt">SIGNATURES
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&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.
</DIV>

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    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left">SURMODICS, INC.<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD colspan="3" style="border-bottom: 1px solid #000000" align="left">By      /s/ Philip D. Ankeny
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">Date:  January 31, 2007&nbsp;</TD>
    <TD valign="top">Name:&nbsp;&nbsp;</TD>
    <TD colspan="2" align="left">Philip D. Ankeny&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">Title:&nbsp;&nbsp;</TD>
    <TD colspan="2" align="left">Chief Financial Officer&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
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