March 14, 2016 / Bio Valley BIOON / -- With the entry of medical standards, the medical device industry has become a new growth point in the biomedical field. This is also an important reason why pharmaceutical giant Johnson & Johnson has focused its work in this area after the business restructuring. Recently, Johnson & Johnson announced that it will acquire medical device developer NeuWave for the soft tissue microwave ablation technology developed by the latter. This technology is now widely available in half of the top cancer treatment centers in the United States.
Thanks to Johnson & Johnson, the technology developed by NeuWave has its own unique features. During treatment, the device will pierce a probe directly into the site of the lesion to be treated, and by emitting microwave energy, the water molecules in the site will move vigorously and generate heat to destroy the tissue there. The benefit of this technique is the ability to protect the integrity of the normal tissue surrounding the part to be resected. On the one hand, this technology provides a new option for patients who are not suitable for surgical treatment, and on the other hand reduces overall medical expenditure.
The parties did not disclose the amount involved in the acquisition. However, NeuWave has just completed a total of $25 million in Series C financing, and the company's total financing has reached about $5 million. Therefore, the company's valuation is not necessarily too low. Both parties expect the acquisition to be completed in the second quarter of this year. It is worth noting that Dan Sullivan, chairman and CEO of NeuWave, is no stranger to the merger of the medical device company. SuperDimension, a lung biopsy testing company he led earlier, was acquired by Covidien for $300 million in 2012. Earlier, when he was vice president of sales at Scimed Life Systems, the company was acquired by medical instrument giant Boston Scientific for more than $800 million.
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