J&J has been hunting for companies to buy. At the start of the year, the company’s new CEO Joaquin Duato said J&J would take a more “aggressive” approach to dealmaking, although he and other executives had indicated a preference toward small- and mid-sized acquisitions of medical technology and biotechnology companies.
Analysts had previously speculated that J&J could acquire a cardiology firm such as Boston Scientific.
In a statement, Duato said in the acquisition of Abiomed is “an important step in the execution of our strategic priorities” as the company focuses on its pharma and medtech businesses.
“We have committed to enhancing our position in medtech by entering high-growth segments,” he added. “The addition of Abiomed provides a strategic platform to advance breakthrough treatments in cardiovascular disease and helps more patients around the world while driving value for our shareholders.” READ MORE
by Elise Reuter
Source: biopharmadive.com
US drugmaker AbbVie has signed an agreement to acquire biotechnology company Aliada Therapeutics, which develops therapies for central nervous system (CNS) diseases using a novel blood-brain barrier (BBB)-crossing technology to address challenging central nervous system (CNS) diseases.
In a yearlong phase 2 study, Sinaptica Therapeutics’ personalized, precision transcranial magnetic brain stimulation slowed the progression of cognitive decline in patients with mild to moderate Alzheimer’s by 44% compared to the sham control group. Cognitive function was measured using Clinical Dementia Rating Scale Sum of Boxes scores.
Under the terms of this agreement, GSK will pay $300 million upfront to acquire full global rights to CMG1A46. In addition, Chimagen will be eligible to receive success-based development and commercial milestone payments for CMG1A46 totaling $550 million.
