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
Five years ago, GSK made headlines when it hired Emma Walmsley to become the first woman to run a major pharmaceutical company. Now the Big Pharma has brought in another woman to control the company’s finances. Julie Brown will be GSK’s next chief financial officer. Brown, currently the chief operating and financial officer at fashion and beauty brand Burberry Group, is set to replace Iain Mackay.
Moderna created a new role responsible for “building out the company’s organization to support its growing pipeline.” Starting first thing 2023, Juan Andres, Moderna’s manufacturing head, will step into this new role under the title president of strategic partnerships and enterprise expansion, the company said Thursday.
The latest takeover is anticipated to boost the presence of Torrent in the dermatology segment. Indian company Torrent Pharmaceuticals has signed a definitive agreement for the complete acquisition of Curatio Healthcare for $245.16m (Rs20bn).