Johnson and Johnson (NYSE:JNJ)
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3 Months : From Nov 2019 to Feb 2020
By Stephen Nakrosis
Johnson & Johnson (JNJ) on Friday said it was acquiring privately-owned Taris Biomedical LLC, which is developing a "novel drug delivery technology for the treatment of bladder diseases including cancer."
Financial terms of the deal weren't disclosed.
JNJ said the proprietary Taris System uses a silicone-based device to allow for the continuous release of medication into the bladder.
Taris will become part of Janssen R&D, and will keep a research presence in the Lexington, Mass. area, JNJ said.
"The team will remain focused on the optimization of drug candidates working together with Janssen R&D scientists to advance and deliver future clinical programs applying the Taris technology," JNJ said.
Mathai Mammen, global head of Janssen R&D, said, "We are eager to build upon the proof-of-concept data that the Taris team has generated and advance clinical development of this drug delivery approach for patients who face a bladder cancer diagnosis, and potentially for other types of cancer in the future."
--Write to Stephen Nakrosis at email@example.com
(END) Dow Jones Newswires
December 20, 2019 16:34 ET (21:34 GMT)
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