<PAGE>   1
================================================================================

                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                             ----------------------

                                    FORM S-8

                             REGISTRATION STATEMENT
                                      UNDER
                           THE SECURITIES ACT OF 1933


                                 SurModics, Inc.
             (Exact Name of Registrant as Specified in its Charter)


      Minnesota                                               41-1356149
 (State or Other Juris-                                   (I.R.S. Employer
diction of Incorporation                               Identification Number)
  or Organization)



                              9924 West 74th Street
                          Eden Prairie, Minnesota 55344
              (Address of Principal Executive Office and Zip Code)



                SURMODICS, INC. 1999 EMPLOYEE STOCK PURCHASE PLAN
                            (Full Title of the Plan)

                               Stephen C. Hathaway
                                 SurModics, Inc.
                              9924 West 74th Street
                          Eden Prairie, Minnesota 55344
                                 (952) 829-2700
 (Name, Address and Telephone Number, Including Area Code, of Agent for Service)


                                   Copies to:
                                 Melodie R. Rose
                            Fredrikson & Byron, P.A.
                            1100 International Centre
                          Minneapolis, Minnesota 55402


<TABLE>
<CAPTION>
                                        CALCULATION OF REGISTRATION FEE
====================================================================================================================
                                                                             PROPOSED
                                                  PROPOSED MAXIMUM            MAXIMUM
  TITLE OF SECURITIES        AMOUNT TO BE          OFFERING PRICE            AGGREGATE              AMOUNT OF
   TO BE REGISTERED          REGISTERED(1)          PER SHARE(2)         OFFERING PRICE(2)      REGISTRATION FEE
--------------------------------------------------------------------------------------------------------------------
<S>                      <C>                    <C>                    <C>                    <C>
  Options to Purchase
Common Stock under the
       1999 Plan              Indefinite               $ 0.00                 $ 0.00                 $ 0.00

 Common Stock issuable
   upon exercise of
 options granted under
   the 1999 Plan (3)
                            200,000 shares             $30.156              $6,031,200               $1,508
                                                                                                     ------
        TOTAL:
                                                                                                     $1,508
====================================================================================================================
</TABLE>

(1)      In addition, pursuant to Rule 416 under the Securities Act of 1933,
         this Registration Statement also covers an indeterminate amount of
         interests to be offered or sold pursuant to the employee benefit plan
         described herein and any additional securities which may become
         issuable pursuant to anti-dilution provisions of the plan.

(2)      Estimated pursuant to Rule 457(h) solely for the purpose of calculating
         the registration fee and based upon the average of the high and low
         prices of the Registrant's Common Stock on January 18, 2001.

(3)      Each share of Common Stock includes a Preferred Stock Purchase Right
         pursuant to the Registrant's Shareholder Rights Plan.


================================================================================

<PAGE>   2



                                     PART II
               INFORMATION REQUIRED IN THE REGISTRATION STATEMENT

Item 3.   Incorporation of Documents by Reference.

          The Registrant hereby incorporates by reference into this Registration
Statement the documents listed in (a) through (c) below:

          (a)       The Registrant's latest annual report filed pursuant to
                    Section 13(a) or 15(d) of the Securities Exchange Act of
                    1934, or either (I) the latest prospectus filed pursuant to
                    Rule 424(b) under the Securities Act of 1933 that contains
                    audited financial statements for the Registrant's latest
                    fiscal year for which such statements have been filed or
                    (II) the Registrant's effective registration statement on
                    Form 10 or 10-SB filed under the Securities Exchange Act of
                    1934 containing audited financial statements for the
                    Registrant's latest fiscal year;

          (b)       All other reports filed pursuant to Section 13(a) or 15(d)
                    of the Securities Exchange Act of 1934 since the end of the
                    fiscal year covered by the Registrant document referred to
                    in (a) above;

          (c)       If the class of securities to be offered is registered under
                    Section 12 of the Securities Exchange Act of 1934, the
                    description of such class of securities contained in a
                    registration statement filed under such Act, including any
                    amendment or report filed for the purpose of updating such
                    description.

          All documents subsequently filed by the Registrant pursuant to
Sections 13(a), 13(c), 14 and 15(d) of the Securities Exchange Act of 1934,
prior to the filing of a post-effective amendment which indicates that all
securities offered have been sold or which deregisters all such securities then
remaining unsold, shall be deemed to be incorporated by reference in this
Registration Statement and to be a part hereof from the date of filing of such
documents.

Item 4.   Description of Securities.

          Not Applicable.

Item 5.   Interests of Named Experts and Counsel.

          Not applicable.

Item 6.   Indemnification of Directors and Officers.

          Under Minnesota corporate law, a corporation shall, unless prohibited
or limited by its Articles of Incorporation or Bylaws, indemnify its directors,
officers, employees and agents against judgments, penalties, fines, settlements,
expenses and disbursements incurred by such person who was, or is threatened to
be, made a party to a proceeding by reason of the fact that the



                                      -1-


<PAGE>   3



person is or was a director, officer, employee or agent of the corporation if
generally, with respect to the acts or omissions of the person complained of in
the proceeding, the person: (i) has not been indemnified by another organization
with respect to the same acts or omissions; (ii) acted in good faith, (iii)
received no improper personal benefit; (iv) in the case of a criminal
proceeding, had no reasonable cause to believe the conduct was unlawful; and (v)
reasonably believed the conduct was in the best interests of the corporation or,
in certain circumstances, reasonably believed that the conduct was not opposed
to the best interests of the corporation. Minnesota corporate law also provides
that a corporation may purchase and maintain insurance on behalf of any
indemnified party against any liability asserted against such person, whether or
not the corporation would have been required to indemnify the person against
liability under the provisions of Minnesota corporate law. The Registrant's
Articles of Incorporation and Bylaws do not limit the Registrant's obligation to
indemnify such persons.

          The Registrant's Articles of Incorporation limit the liability of its
directors to the full extent permitted by the Minnesota Business Corporation
Act. Specifically, directors of the Registrant will not be personally liable for
monetary damages for breach of fiduciary duty as directors except liability for
(i) any breach of the duty of loyalty to the Registrant or its shareholders,
(ii) acts or omissions not in good faith or that involve intentional misconduct
or a knowing violation of law, (iii) dividends or other distributions of
corporate assets that are in contravention of certain statutory or contractual
restrictions, (iv) violations of certain Minnesota securities laws or (v) any
transaction from which the director derives an improper personal benefit.

Item 7.   Exemption from Registration Claimed.

          Not applicable.

Item 8.   Exhibits.

          5        Opinion and Consent of Fredrikson & Byron, P.A. relating to
                   the legality of securities under the 1999 Employee Stock
                   Purchase Plan.

          23.1     Consent of Fredrikson & Byron, P.A. -- included in their
                   opinion filed as Exhibit 5.

          23.2     Consent of Arthur Andersen LLP.

          24       Power of Attorney from certain directors.

Item 9.   Undertakings.

          (a)       The undersigned Registrant hereby undertakes:

                    (1)       To file, during any period in which offers or
                              sales are being made, a post-effective amendment
                              to this Registration Statement:

                              (i)       To include any prospectus required by
                                        Section 10(a)(3) of the Securities Act
                                        of 1933;



                                      -2-


<PAGE>   4



                              (ii)      To reflect in the prospectus any facts
                                        or events arising after the effective
                                        date of the Registration Statement (or
                                        the most recent post-effective amendment
                                        thereof) which, individually or in the
                                        aggregate, represents a fundamental
                                        change in the information set forth in
                                        the Registration Statement;

                              (iii)     To include any material information with
                                        respect to the plan of distribution not
                                        previously disclosed in the Registration
                                        Statement or any material change to such
                                        information in the Registration
                                        Statement;

                                        Provided, however, that paragraphs
                                        (a)(1)(i) and (a)(1)(ii) do not apply if
                                        the information required to be included
                                        in a post-effective amendment by those
                                        paragraphs is contained in periodic
                                        reports filed by the Registrant pursuant
                                        to Section 13 or Section 15(d) of the
                                        Securities Exchange Act of 1934 that are
                                        incorporated by reference in the
                                        Registration Statement.

                    (2)       That, for the purposes of determining any
                              liability under the Securities Act of 1933, each
                              such post-effective amendment shall be deemed to
                              be a new Registration Statement relating to the
                              securities offered therein, and the offering of
                              such securities at that time shall be deemed to be
                              the initial bona fide offering thereof.

                    (3)       To remove from registration by means of a
                              post-effective amendment any of the securities
                              being registered which remain unsold at the
                              termination of the offering.

          (b)       The undersigned Registrant hereby undertakes that, for
                    purposes of determining any liability under the Securities
                    Act of 1933, each filing of the Registrant's annual report
                    pursuant to Section 13(a) or Section 15(d) of the Securities
                    Exchange Act of 1934 (and, where applicable, each filing of
                    an employee benefit plan's annual report pursuant to Section
                    15(d) of the Securities Exchange Act of 1934) that is
                    incorporated by reference in the Registration Statement
                    shall be deemed to be a new registration statement relating
                    to the securities offered therein, and the offering of such
                    securities at that time shall be deemed to be the initial
                    bona fide offering thereof.

          (c)       Insofar as indemnification for liabilities arising under the
                    Securities Act of 1933 may be permitted to directors,
                    officers and controlling persons of the Registrant pursuant
                    to the foregoing provisions, or otherwise, the Registrant
                    has been advised that in the opinion of the Securities and
                    Exchange Commission such indemnification is against public
                    policy as expressed in the Act and is, therefore,
                    unenforceable. In the event that a claim for indemnification
                    against such liabilities (other than the payment by the
                    Registrant of expenses incurred or paid by a director,



                                      -3-


<PAGE>   5



                    officer or controlling person of the Registrant in the
                    successful defense of any action, suit or proceeding) is
                    asserted by such director, officer or controlling person in
                    connection with the securities being registered, the
                    Registrant will, unless in the opinion of its counsel the
                    matter has been settled by controlling precedent, submit to
                    a court of appropriate jurisdiction the question whether
                    such indemnification by it is against public policy as
                    expressed in the Act and will be governed by final
                    adjudication of such issue.


                                   SIGNATURES

          The Registrant. Pursuant to the requirements of the Securities Act of
1933, the Registrant certifies that it has reasonable grounds to believe that it
meets all of the requirements for filing on Form S-8 and has duly caused this
Registration Statement to be signed on its behalf by the undersigned, thereunto
duly authorized, in the City of Eden Prairie and State of Minnesota, on the 22nd
day of January, 2001.


                                       SURMODICS, INC.
                                       (the "Registrant")



                                       By       /s/ Dale R. Olseth
                                          --------------------------------------
                                          Dale R. Olseth, Chairman of the Board
                                          and Chief Executive Officer



          Pursuant to the requirements of the Securities Act of 1933, this
Registration Statement has been signed below by the following persons in the
capacities and on the dates indicated.


                               (Power of Attorney)

          Each of the undersigned constitutes and appoints Dale R. Olseth and
Stephen C. Hathaway his true and lawful attorney-in-fact and agent, each acting
alone, with full powers of substitution and resubstitution, for him and in his
name, place and stead, in any and all capacities, to sign the Form S-8
Registration Statement of SurModics, Inc. relating to the Company's 1999
Employee Stock Purchase Plan and any or all amendments or post-effective
amendments to the Form S-8 Registration Statement, and to file the same, with
all exhibits thereto, and other documents in connection therewith, with the
Securities and Exchange Commission, granting unto said attorneys-in-fact and
agents, each acting alone, full power and authority to do and perform each and
every act and thing requisite and necessary to be done in and about the
premises, as fully to all intents and purposes as the undersigned might or could
do in person, hereby ratifying and confirming all that



                                      -4-


<PAGE>   6



said attorneys-in-fact and agents, each acting alone, or their substitute or
substitutes, may lawfully do or cause to be done by virtue hereof.


<TABLE>
<CAPTION>
       Signature                                 Title                                         Date
       ---------                                 -----                                         ----
<S>                                             <C>                                          <C>

/s/ Dale R. Olseth                              Chairman of the Board and                January 22, 2001
------------------------------------            Chief Executive Officer
Dale R. Olseth                                  (principal executive officer)


/s/ Stephen C. Hathaway                         Vice President and Chief                 January 22, 2001
------------------------------------            Financial Officer (principal
Stephen C. Hathaway                             financial and accounting officer)


/s/ Patrick E. Guire                            Director                                 January 22, 2001
------------------------------------
Patrick E. Guire, Ph.D.


/s/ Donald S. Fredrickson                       Director                                 January 22, 2001
------------------------------------
Donald S. Fredrickson, M.D.


                                                Director                                 January __, 2001
------------------------------------
James J. Grierson


/s/ Kenneth H. Keller                           Director                                 January 22, 2001
------------------------------------
Kenneth H. Keller, Ph.D.


/s/ David A. Koch                               Director                                 January 22, 2001
------------------------------------
David A. Koch


/s/ Kendrick B. Melrose                         Director                                 January 22, 2001
------------------------------------
Kendrick B. Melrose


/s/ J. A. Meslow                                Director                                 January 22, 2001
------------------------------------
John A. Meslow
</TABLE>




                                      -5-

<PAGE>   7



                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549





                                 SURMODICS, INC.

                         Form S-8 Registration Statement



                                  EXHIBIT INDEX


Exhibit
Number                              Exhibit Description
--------                            -------------------

  5                Opinion and Consent of counsel re: securities under the Plan
 23.1              Consent of counsel (See Exhibit 5)
 23.2              Consent of independent public accountants
 24                Power of attorney (See Signature Page)
[{"type": "S-8", "sequence": "1", "filename": "c59711s-8.txt", "description": "FORM S-8", "secsgml_size_bytes": 20112}]
{"company-data": {"conformed-name": "SURMODICS INC", "cik": "0000924717", "assigned-sic": "2891", "irs-number": "411356149", "state-of-incorporation": "MN", "fiscal-year-end": "0930"}, "filing-values": {"form-type": "S-8", "act": "33", "file-number": "333-54266", "film-number": "1514624"}, "business-address": {"street1": "9924 W 74TH ST", "city": "EDEN PRAIRIE", "state": "MN", "zip": "55344", "phone": "6128292700"}, "mail-address": {"street1": "9924 WEST 74TH ST", "city": "EDEN PRAIRIE", "state": "MN", "zip": "55344"}, "former-company": {"former-conformed-name": "BSI CORP", "date-changed": "19970506"}}
1
================================================================================

                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                             ----------------------

                                    FORM S-8

                             REGISTRATION STATEMENT
                                      UNDER
                           THE SECURITIES ACT OF 1933

                                 SurModics, Inc.
             (Exact Name of Registrant as Specified in its Charter)

      Minnesota                                               41-1356149
 (State or Other Juris-                                   (I.R.S. Employer
diction of Incorporation                               Identification Number)
  or Organization)

                              9924 West 74th Street
                          Eden Prairie, Minnesota 55344
              (Address of Principal Executive Office and Zip Code)

                SURMODICS, INC. 1999 EMPLOYEE STOCK PURCHASE PLAN
                            (Full Title of the Plan)

                               Stephen C. Hathaway
                                 SurModics, Inc.
                              9924 West 74th Street
                          Eden Prairie, Minnesota 55344
                                 (952) 829-2700
 (Name, Address and Telephone Number, Including Area Code, of Agent for Service)

                                   Copies to:
                                 Melodie R. Rose
                            Fredrikson & Byron, P.A.
                            1100 International Centre
                          Minneapolis, Minnesota 55402
CALCULATION OF REGISTRATION FEE
====================================================================================================================
                                                                             PROPOSED
                                                  PROPOSED MAXIMUM            MAXIMUM
  TITLE OF SECURITIES        AMOUNT TO BE          OFFERING PRICE            AGGREGATE              AMOUNT OF
   TO BE REGISTERED          REGISTERED(1)          PER SHARE(2)         OFFERING PRICE(2)      REGISTRATION FEE
--------------------------------------------------------------------------------------------------------------------
Options to Purchase
Common Stock under the
       1999 Plan              Indefinite               $ 0.00                 $ 0.00                 $ 0.00

 Common Stock issuable
   upon exercise of
 options granted under
   the 1999 Plan (3)
                            200,000 shares             $30.156              $6,031,200               $1,508
                                                                                                     ------
        TOTAL:
                                                                                                     $1,508
====================================================================================================================
(1)      In addition, pursuant to Rule 416 under the Securities Act of 1933,
         this Registration Statement also covers an indeterminate amount of
         interests to be offered or sold pursuant to the employee benefit plan
         described herein and any additional securities which may become
         issuable pursuant to anti-dilution provisions of the plan.

(2)      Estimated pursuant to Rule 457(h) solely for the purpose of calculating
         the registration fee and based upon the average of the high and low
         prices of the Registrant's Common Stock on January 18, 2001.

(3)      Each share of Common Stock includes a Preferred Stock Purchase Right
         pursuant to the Registrant's Shareholder Rights Plan.

================================================================================
2

                                     PART II
               INFORMATION REQUIRED IN THE REGISTRATION STATEMENT

Item 3.   Incorporation of Documents by Reference.

          The Registrant hereby incorporates by reference into this Registration
Statement the documents listed in (a) through (c) below:

          (a)       The Registrant's latest annual report filed pursuant to
                    Section 13(a) or 15(d) of the Securities Exchange Act of
                    1934, or either (I) the latest prospectus filed pursuant to
                    Rule 424(b) under the Securities Act of 1933 that contains
                    audited financial statements for the Registrant's latest
                    fiscal year for which such statements have been filed or
                    (II) the Registrant's effective registration statement on
                    Form 10 or 10-SB filed under the Securities Exchange Act of
                    1934 containing audited financial statements for the
                    Registrant's latest fiscal year;

          (b)       All other reports filed pursuant to Section 13(a) or 15(d)
                    of the Securities Exchange Act of 1934 since the end of the
                    fiscal year covered by the Registrant document referred to
                    in (a) above;

          (c)       If the class of securities to be offered is registered under
                    Section 12 of the Securities Exchange Act of 1934, the
                    description of such class of securities contained in a
                    registration statement filed under such Act, including any
                    amendment or report filed for the purpose of updating such
                    description.

          All documents subsequently filed by the Registrant pursuant to
Sections 13(a), 13(c), 14 and 15(d) of the Securities Exchange Act of 1934,
prior to the filing of a post-effective amendment which indicates that all
securities offered have been sold or which deregisters all such securities then
remaining unsold, shall be deemed to be incorporated by reference in this
Registration Statement and to be a part hereof from the date of filing of such
documents.

Item 4.   Description of Securities.

          Not Applicable.

Item 5.   Interests of Named Experts and Counsel.

          Not applicable.

Item 6.   Indemnification of Directors and Officers.

          Under Minnesota corporate law, a corporation shall, unless prohibited
or limited by its Articles of Incorporation or Bylaws, indemnify its directors,
officers, employees and agents against judgments, penalties, fines, settlements,
expenses and disbursements incurred by such person who was, or is threatened to
be, made a party to a proceeding by reason of the fact that the

                                      -1-
3

person is or was a director, officer, employee or agent of the corporation if
generally, with respect to the acts or omissions of the person complained of in
the proceeding, the person: (i) has not been indemnified by another organization
with respect to the same acts or omissions; (ii) acted in good faith, (iii)
received no improper personal benefit; (iv) in the case of a criminal
proceeding, had no reasonable cause to believe the conduct was unlawful; and (v)
reasonably believed the conduct was in the best interests of the corporation or,
in certain circumstances, reasonably believed that the conduct was not opposed
to the best interests of the corporation. Minnesota corporate law also provides
that a corporation may purchase and maintain insurance on behalf of any
indemnified party against any liability asserted against such person, whether or
not the corporation would have been required to indemnify the person against
liability under the provisions of Minnesota corporate law. The Registrant's
Articles of Incorporation and Bylaws do not limit the Registrant's obligation to
indemnify such persons.

          The Registrant's Articles of Incorporation limit the liability of its
directors to the full extent permitted by the Minnesota Business Corporation
Act. Specifically, directors of the Registrant will not be personally liable for
monetary damages for breach of fiduciary duty as directors except liability for
(i) any breach of the duty of loyalty to the Registrant or its shareholders,
(ii) acts or omissions not in good faith or that involve intentional misconduct
or a knowing violation of law, (iii) dividends or other distributions of
corporate assets that are in contravention of certain statutory or contractual
restrictions, (iv) violations of certain Minnesota securities laws or (v) any
transaction from which the director derives an improper personal benefit.

Item 7.   Exemption from Registration Claimed.

          Not applicable.

Item 8.   Exhibits.

          5        Opinion and Consent of Fredrikson & Byron, P.A. relating to
                   the legality of securities under the 1999 Employee Stock
                   Purchase Plan.

          23.1     Consent of Fredrikson & Byron, P.A. -- included in their
                   opinion filed as Exhibit 5.

          23.2     Consent of Arthur Andersen LLP.

          24       Power of Attorney from certain directors.

Item 9.   Undertakings.

          (a)       The undersigned Registrant hereby undertakes:

                    (1)       To file, during any period in which offers or
                              sales are being made, a post-effective amendment
                              to this Registration Statement:

                              (i)       To include any prospectus required by
                                        Section 10(a)(3) of the Securities Act
                                        of 1933;

                                      -2-
4

                              (ii)      To reflect in the prospectus any facts
                                        or events arising after the effective
                                        date of the Registration Statement (or
                                        the most recent post-effective amendment
                                        thereof) which, individually or in the
                                        aggregate, represents a fundamental
                                        change in the information set forth in
                                        the Registration Statement;

                              (iii)     To include any material information with
                                        respect to the plan of distribution not
                                        previously disclosed in the Registration
                                        Statement or any material change to such
                                        information in the Registration
                                        Statement;

                                        Provided, however, that paragraphs
                                        (a)(1)(i) and (a)(1)(ii) do not apply if
                                        the information required to be included
                                        in a post-effective amendment by those
                                        paragraphs is contained in periodic
                                        reports filed by the Registrant pursuant
                                        to Section 13 or Section 15(d) of the
                                        Securities Exchange Act of 1934 that are
                                        incorporated by reference in the
                                        Registration Statement.

                    (2)       That, for the purposes of determining any
                              liability under the Securities Act of 1933, each
                              such post-effective amendment shall be deemed to
                              be a new Registration Statement relating to the
                              securities offered therein, and the offering of
                              such securities at that time shall be deemed to be
                              the initial bona fide offering thereof.

                    (3)       To remove from registration by means of a
                              post-effective amendment any of the securities
                              being registered which remain unsold at the
                              termination of the offering.

          (b)       The undersigned Registrant hereby undertakes that, for
                    purposes of determining any liability under the Securities
                    Act of 1933, each filing of the Registrant's annual report
                    pursuant to Section 13(a) or Section 15(d) of the Securities
                    Exchange Act of 1934 (and, where applicable, each filing of
                    an employee benefit plan's annual report pursuant to Section
                    15(d) of the Securities Exchange Act of 1934) that is
                    incorporated by reference in the Registration Statement
                    shall be deemed to be a new registration statement relating
                    to the securities offered therein, and the offering of such
                    securities at that time shall be deemed to be the initial
                    bona fide offering thereof.

          (c)       Insofar as indemnification for liabilities arising under the
                    Securities Act of 1933 may be permitted to directors,
                    officers and controlling persons of the Registrant pursuant
                    to the foregoing provisions, or otherwise, the Registrant
                    has been advised that in the opinion of the Securities and
                    Exchange Commission such indemnification is against public
                    policy as expressed in the Act and is, therefore,
                    unenforceable. In the event that a claim for indemnification
                    against such liabilities (other than the payment by the
                    Registrant of expenses incurred or paid by a director,

                                      -3-
5

                    officer or controlling person of the Registrant in the
                    successful defense of any action, suit or proceeding) is
                    asserted by such director, officer or controlling person in
                    connection with the securities being registered, the
                    Registrant will, unless in the opinion of its counsel the
                    matter has been settled by controlling precedent, submit to
                    a court of appropriate jurisdiction the question whether
                    such indemnification by it is against public policy as
                    expressed in the Act and will be governed by final
                    adjudication of such issue.

                                   SIGNATURES

          The Registrant. Pursuant to the requirements of the Securities Act of
1933, the Registrant certifies that it has reasonable grounds to believe that it
meets all of the requirements for filing on Form S-8 and has duly caused this
Registration Statement to be signed on its behalf by the undersigned, thereunto
duly authorized, in the City of Eden Prairie and State of Minnesota, on the 22nd
day of January, 2001.

                                       SURMODICS, INC.
                                       (the "Registrant")

                                       By       /s/ Dale R. Olseth
                                          --------------------------------------
                                          Dale R. Olseth, Chairman of the Board
                                          and Chief Executive Officer

          Pursuant to the requirements of the Securities Act of 1933, this
Registration Statement has been signed below by the following persons in the
capacities and on the dates indicated.

                               (Power of Attorney)

          Each of the undersigned constitutes and appoints Dale R. Olseth and
Stephen C. Hathaway his true and lawful attorney-in-fact and agent, each acting
alone, with full powers of substitution and resubstitution, for him and in his
name, place and stead, in any and all capacities, to sign the Form S-8
Registration Statement of SurModics, Inc. relating to the Company's 1999
Employee Stock Purchase Plan and any or all amendments or post-effective
amendments to the Form S-8 Registration Statement, and to file the same, with
all exhibits thereto, and other documents in connection therewith, with the
Securities and Exchange Commission, granting unto said attorneys-in-fact and
agents, each acting alone, full power and authority to do and perform each and
every act and thing requisite and necessary to be done in and about the
premises, as fully to all intents and purposes as the undersigned might or could
do in person, hereby ratifying and confirming all that

                                      -4-
6

said attorneys-in-fact and agents, each acting alone, or their substitute or
substitutes, may lawfully do or cause to be done by virtue hereof.
Signature                                 Title                                         Date
       ---------                                 -----                                         ----
/s/ Dale R. Olseth                              Chairman of the Board and                January 22, 2001
------------------------------------            Chief Executive Officer
Dale R. Olseth                                  (principal executive officer)

/s/ Stephen C. Hathaway                         Vice President and Chief                 January 22, 2001
------------------------------------            Financial Officer (principal
Stephen C. Hathaway                             financial and accounting officer)

/s/ Patrick E. Guire                            Director                                 January 22, 2001
------------------------------------
Patrick E. Guire, Ph.D.

/s/ Donald S. Fredrickson                       Director                                 January 22, 2001
------------------------------------
Donald S. Fredrickson, M.D.

                                                Director                                 January __, 2001
------------------------------------
James J. Grierson

/s/ Kenneth H. Keller                           Director                                 January 22, 2001
------------------------------------
Kenneth H. Keller, Ph.D.

/s/ David A. Koch                               Director                                 January 22, 2001
------------------------------------
David A. Koch

/s/ Kendrick B. Melrose                         Director                                 January 22, 2001
------------------------------------
Kendrick B. Melrose

/s/ J. A. Meslow                                Director                                 January 22, 2001
------------------------------------
John A. Meslow
-5-
7

                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                 SURMODICS, INC.

                         Form S-8 Registration Statement

                                  EXHIBIT INDEX

Exhibit
Number                              Exhibit Description
--------                            -------------------

  5                Opinion and Consent of counsel re: securities under the Plan
 23.1              Consent of counsel (See Exhibit 5)
 23.2              Consent of independent public accountants
 24                Power of attorney (See Signature Page)