Johnson & Johnson Acquires Taris Biomedical

Date : 12/20/2019 @ 9:49PM
Source : Dow Jones News
Stock : Johnson and Johnson (JNJ)
Quote : 139.12  -4.56 (-3.17%) @ 12:51AM
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Johnson & Johnson Acquires Taris Biomedical

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   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 stephen.nakrosis@wsj.com

 

(END) Dow Jones Newswires

December 20, 2019 16:34 ET (21:34 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.

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