Assuming that you are only using the subset of the MATLAB language that is supported for code-generation, you can generate a static library using the MATLAB Coder product.
If you can make do with DLLs/shared libraries, another option is MATLAB Compiler which supports most MATLAB functionality, but generates code that depends on some MATLAB run-time libraries, which requires that you install the MATLAB Compiler Runtime package on every machine that the library is deployed on.
