Johnson & Johnson has acquired a Massachusetts-based biotechnology company, it announced recently.
Financial terms of the New Brunswick-based health care giant’s acquisition of TARIS Biomedical LLC were not disclosed.
Privately-owned TARIS is working on development of a novel drug delivery technology for the treatment of bladder cancer and other bladder diseases, J&J said in a news release.
“The TARIS technology provides a first-in-class clinical stage platform to evaluate novel, locally-delivered therapeutics for patients with localized bladder cancer,” Dr. Peter Lebowitz, global therapeutic area head, oncology, for J&J unit Janssen Research & Development LLC, said in a prepared statement. “Together with the TARIS team, we look forward to advancing complete regimens to push toward early interception of bladder cancer with the goal of improving outcomes for patients and, ultimately, delivering cures.”
TARIS will keep a research presence in Lexington, Massachusetts, while becoming part of Janssen R&D’s Oncology Therapeutic Area.
“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,” Dr. Mathai Mammen, global head, Janssen R&D, said in a statement.