Sector News

J&J's Ethicon unit to buy NeuWave

March 10, 2016
Life sciences

Johnson & Johnson medical-device unit Ethicon agreed to buy NeuWave Medical Inc.

NeuWave developed a system that eliminates soft-tissue lesions with microwave energy and is used by cancer patients.

Ethicon said in a statement that “we continue to work to push the boundaries of access and treatment for patients for whom traditional surgery may not be an option today.”

Last May, Madison, Wis.-based NeuWave said it had raised $25 million in Series C financing. New investor Versant Ventures led the round, joined by returning backers H.I.G. BioVentures, Venture Investors and others.

Ethicon and the life-sciences division of Google Inc. formed a partnership last year to develop robots to assist surgeons. In December, Johnson & Johnson said Scott Huennekens will serve as chief executive of an independent company called Verb Surgical Inc. that emerged from the collaboration.

Ethicon expects to complete the NeuWave deal during the second quarter.

By Josh Beckerman

Source: Dow Jones Business News via Nasdaq

comments closed

Related News

January 29, 2023

Colorcon, Inc. signs Put agreement with intent to acquire controlled atmosphere packaging specialist Airnov Healthcare Packaging

Life sciences

Airnov provides critical healthcare industries with high-quality, controlled atmosphere packaging, to protect their products from moisture and oxygen. The business has manufacturing facilities in the USA, France, China and India and employs around 700 people.

January 29, 2023

Takeda pledges up to $1.13B for rights to Hutchmed’s cancer drug fruquintinib outside of China

Life sciences

Takeda of Japan has partnered with Hong Kong-based Hutchmed, gaining the commercial rights to colorectal cancer drug fruquintinib outside of China for $400 million up front, plus $730 million in potential milestone payments. Takeda also will help develop fruquintinib, which can be applied to subtypes of refractory metastatic colorectal cancer, regardless of biomarker status, the companies said.

January 29, 2023

Vir taps Bayer dealmaker Marianne De Backer as its next CEO

Life sciences

On April 3, Scangos, who’s been chief executive officer at Vir since the start of 2017, will hand over the reins to Marianne De Backer, Ph.D. De Backer comes over from Bayer, where she currently heads up pharmaceutical strategy, business development and licensing. Alongside her CEO appointment, De Backer is set to join Vir’s board of directors, the company said Wednesday.

How can we help you?

We're easy to reach