Johnson & Johnson (NYSE: JNJ) acquired Taris Biomedical, a privately-owned biotechnology company specializing in the development of a novel drug delivery technology for the treatment of bladder diseases including cancer.
The financial terms of the deal were not disclosed.
The company’s lead clinical-stage product, TAR-200, uses the proprietary TARIS System, which features a silicone-based drug delivery device that allows for the continuous release of medication into the bladder.
The company will maintain a research presence in Lexington, Massachusetts and become part of Janssen R&D’s Oncology Therapeutic Area.
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 Tairs technology, which arose from research conducted at MIT’s Koch Institute for Integrative Cancer Research.