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

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