In the last year alone, SurModics Inc. (NSDQ:SRDX) opened a $41 million pharmaceutical plant, which is bleeding cash, fired its CEO, massively restructured its operations, and is now facing down a potentially nasty proxy fight with an outside investor.
Ramius LLC, the alternative investment arm of Cowen & Co., recently purchased a 12 percent stake in SurModics, making it the largest shareholder, according to documents filed with the Securities & Exchange Commission.