Nerites board adds former president of SurModics

Madison, Wis. — Nerites, a developer of medical technology, has added James C. Powell to its board of directors. Powell retired in 2003 from SurModics, a public company that developed similar products, where he was president and chief operating officer.

"His extensive experience forming profitable corporate partnerships with major medical device companies will be valuable to us," said George Arida, chairman of Nerites' board, in a press release. "We're excited about the depth of expertise and relationships that Jim brings to our board as we begin working with corporate partners to commercialize our adhesives, sealants, and coatings for specific medical indications."

Powell has a master's degree from the University of Washington. When he retired from SurModics, its market capitalization was $675 million, according to the release.