FORM 4

U.S. SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

	Check box if no longer subject to
	Section 16. Form 4 or Form 5 obligations
	may continue. See Instruction 1(b).

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility
Holding Company Act of 1935 or Section 30(f) of the Investment Company Act of 1940

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1.   Name and Address of Reporting Person		2.   Issuer Name and Ticker or Trading Symbol		6.   Relationship of Reporting Person
Powell                   James                      C.		SurModics, Inc. (SRDX)		to Issuer (Check all applicable)
(Last)                   (First)                   (Middle)				Director 10% Owner
				Officer (give title below)
		3.   IRS Identification Number of Reporting Person, if an Entity (Voluntary)		Other (specify below)
9924 West 74th Street				President
(Street)
		4.   Statement for Month/Year		7.   Individual or Joint/Group Filing
Eden Prairie            MN                   55344				(Check applicable line)
(City)                   (State)                   (Zip)				Form Filed by One Reporting Person
		5.   If Amendment, Date of Original (Month/Year)		Form Filed by More than One Reporting Person
		April 2002

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TABLE I — NON-DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED

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4.   Securities Acquired (A)

3.   Transaction Code

or Disposed of (D)

2.  Transaction Date

(Instr. 8)

(Instr. 3, 4 and 5)

(A) or

1.   Title of Security (Instr. 3)

(Month/Day/Year)

Code

V

Amount

(D)

Price

Common Stock

12/15/00

G

200

D

None

Common Stock

1/1/01

G

550

D

None

Common Stock

11/28/01

G

V

100

D

None

Common Stock

4/19/02

M

30,200

A

$2.50

Common Stock

4/19/02

S

30,200

D

$44.309

Common Stock

4/22/02

M

1,700

A

$2.50

Common Stock

4/22/02

S

1,700

D

$44.00

Common Stock

4/24/02

M

23,300

A

$2.50

Common Stock

4/24/02

S

23,300

D

$41.129

Common Stock

Common Stock

[Additional columns below]

[Continued from above table]

5.   Amount of		6.   Ownership Form:
Securities Beneficially		Direct (D) or		7.   Nature of Indirect
Owned at End of Month		Indirect (I)		Beneficial Ownership
(Instr. 3 and 4)		(Instr. 4)		(Instr. 4)
90,225*		D
26,000		I		By IRA
500		I		By Spouse
*Includes 114 shares acquired since last report under Issuer's Employee Stock Purchase Plan

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FORM 4 (CONTINUED)

TABLE II — DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
(E.G., PUTS, CALLS, WARRANTS, OPTIONS, CONVERTIBLE SECURITIES)

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5. Number of

Derivative

Securities

Acquired (A) or

4. Transaction

Disposed of (D)

Code

(Instr. 3, 4,

2. Conversion or

(Instr. 8)

and 5)

1. Title of Derivative

Exercise Price of

3. Transaction Date

Security (Instr. 3)

Derivative Security

(Month/Day/Year)

Code

V

(A)

(D)

Employee Stock Option (Right to Buy)

$2.50

4/19/02

M

30,200

Employee Stock Option (Right to Buy)

$2.50

4/22/02

M

1,700

Employee Stock Option (Right to Buy)

$2.50

4/24/02

M

23,300

Employee Stock Option (Right to Buy)

$3.875

Previously Reported

Employee Stock Option (Right to Buy)

$8.0625

Previously Reported

Employee Stock Option (Right to Buy)

$25.094

Previously Reported

[Additional columns below]

[Continued from above table]

6. Date Exercisable				7. Title and Amount
and Expiration				of Underlying
Date (Month/Day/				Securities
Year)				(Instr. 3 and 4)
								8. Price of
						Amount or		Derivative
Date		Expiration				Number of		Security
Exercisable		Date		Title		Shares		(Instr. 5)
(1)		9/18/02		Common Stock		92,000		None
(1)		9/18/02		Common Stock		92,000		None
(1)		9/18/02		Common Stock		92,000		None
(2)		9/21/05		Common Stock		20,000		None
(3)		9/20/06		Common Stock		30,000		None
(4)		9/18/07		Common Stock		20,000		None

9. Number of		10. Ownership
Derivative		Form of
Securities		Derivative		11. Nature of
Beneficially		Securities		Indirect
Owned at End		Beneficially		Beneficial
of Month		owned at end of month		Ownership
(Instr. 4)		(Instr. 4)		(Instr. 4)
0		D
20,000		D
30,000		D
20,000		D

      Explanation of Responses:

(1)		Exercisable in annual increments of 18,400 shares each commencing 9/18/97.
(2)		Exercisable in annual increments of 4,000 shares each commencing 9/21/99.
(3)		Exercisable in annual increments of 6,000 shares each commencing 9/20/00.
(4)		Exercisable in annual increments of 4,000 shares each commencing 9/18/01.

/s/ James C. Powell		July 12, 2002
**Signature of Reporting Person		Date

      **Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
      Note: File three copies of this form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

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