US company Johnson & Johnson is negotiating to buy a stake in the Israeli start-up group Medinol. According to the Jerusalem Post, J&J's planned $360 million investment would be one of the largest foreign investments ever made in an Israeli company.
Reportedly, J&J is interested in acquiring exclusive manufacturing and distribution rights for a unique spring used to hold heart arteries open, thereby eliminating the need for heart bypass surgery. Medinol's patent is held by Gregory Pinhasik, an immigrant scientist from the Commonwealth of Independent States. Medinol is owned by Kobi Richter, head of Marathon Capital Investments, which holds 35% of its outstanding share capital.
This article is accessible to registered users, to continue reading please register for free. A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.
Login to your accountTry before you buy
7 day trial access
Become a subscriber
Or £77 per month
The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed
Chairman, Sanofi Aventis UK
Copyright © The Pharma Letter 2024 | Headless Content Management with Blaze