J&J offered $2.1B for Lifescan CGM business
Johnson & Johnson Corp.'s (J&J) Medical Devices group has received a binding offer of $2.1 billion for its Lifescan Inc. business, signaling further moves away from the diabetes sector after its 2017 closure of Animas. Blood glucose monitoring (BGM) company and maker of Onetouch devices, Lifescan, reported $1.5 billion in 2017 net revenue. Platinum Equity investment firm made the offer; the deal's acceptance period closes June 15. Should Johnson & Johnson accept, the transaction is anticipated to close by the end of the year. Lifescan offers BGM and insulin delivery devices.
Foundation and Pfizer partner to develop tumor companion diagnostics for CGP assay
Foundation Medicine Inc. has struck up a partnership with Pfizer Inc. to develop and eventually market companion diagnostics (Cdx) for its comprehensive genomic profiling (CGP) assay, Foundationone Cdx. FDA-approved Foundationone Cdx provides genomic profiles and incorporates additional diagnostic information on solid tumors. The test detects alterations to EGFR, ALK, BRAF, ERBB2, KRAS, NRAS and BRCA1/2 genes.
Med-tech venture investment calls for creativity
SAN FRANCISCO While med-tech investment hit a low point about five to 10 years ago, venture firms are once again interested in the channel, though investments have taken on a different look than previously, according to a panel at the Redefining Early Stage Investment (RESI) meeting.