RAYNHAM, M.A., Dec. 07, 2016 – Codman Neuro today announced the acquisition of Pulsar Vascular Inc., a privately held company based in Los Gatos, California with breakthrough platform technology for the neurovascular treatment of complex aneurysms. DePuy Synthes Products, Inc., an affiliate of Codman Neuro, is the acquiring entity. For Codman Neuro, a global market leader in neurovascular and neurosurgery, this acquisition marks the latest expansion of its neurovascular portfolio and will complement a comprehensive portfolio of products for hemorrhagic and ischemic stroke. Financial terms of the transaction were not disclosed.
Founded by Sanderling Ventures in 2005, Pulsar Vascular Inc. developed the PulseRider®, a novel, minimally invasive, self-expanding nitinol implant that is used to bridge the neck of cerebral aneurysms during treatment of unruptured wide-neck intracranial aneurysms originating on or near a bifurcation. A unique patented ‘saddle’ shape stent leaves minimal metal in the parent artery, enabling easy access to the aneurysm for coiling while maintaining support.
According to the Brain Aneurysm Foundation, cerebral aneurysms claim nearly 500,000[1] lives worldwide each year and half the victims are younger than 50. Many of these aneurysms develop in vascular bifurcations where the arteries branch, which may be difficult to treat with conventional devices.
“There is a significant unmet medical need for the treatment of complex bifurcation aneurysms which pose a high risk to the patient,” said Shlomi Nachman, Company Group Chairman of Johnson & Johnson Medical Devices Cardiovascular & Specialty Solutions. “Pulsar Vascular Inc.’s technology design is a great example of how innovation is driving improved outcomes for patients facing a condition that could have profound impact on their lives. Working together, we will leverage our proven market expertise and strong commercial footprint to bring this technology to many more clinicians worldwide.”
The PulseRider® device received CE Mark certification in Europe in late 2013 and is currently sold in nine countries. Codman Neuro was previously the exclusive distributor of Pulsar Vascular Inc.’s technology in Europe, Middle East and Africa. Pulsar Vascular Inc. has completed a U.S. IDE clinical trial and awaits U.S. HDE approval.
Codman Neuro and DePuy Synthes Products, Inc. are part of the Johnson & Johnson Family of Medical Devices Companies.
About Codman Neuro
Codman Neuro is a global neurosurgery and neurovascular business that offers a broad portfolio of devices for hydrocephalus management, neuro intensive care and cranial surgery, as well as aneurysm coils, vascular reconstruction devices and other technologies used in the endovascular treatment of cerebral aneurysms and stroke. Visit www.codman.com for more information.
Cautions Concerning Forward-Looking Statements
This press release contains “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995 related to the acquisition of Pulsar Vascular Inc. and anticipated market expansion of Pulsar Vascular Inc.’s technology and products. The reader is cautioned not to rely on these forward-looking statements. These statements are based on current expectations of future events. If underlying assumptions prove inaccurate or known or unknown risks or uncertainties materialize, actual results could vary materially from the expectations and projections of DePuy Synthes Products, Inc. and/or Johnson & Johnson. Risks and uncertainties include, but are not limited to: challenges related to integrating the products and employees of Pulsar Vascular Inc., as well as the ability to ensure continued performance or market growth of its products; the potential that the expected benefits and opportunities related to the transaction may not be realized or may take longer to realize than expected; competition, including technological advances, new products and patents attained by competitors; challenges to patents; changes to applicable laws and regulations, including tax laws and global health care reforms; changes in behavior and spending patterns or financial distress of purchasers of health care products and services; and trends toward health care cost containment. A further list and description of these risks, uncertainties and other factors can be found in Johnson & Johnson’s Annual Report on Form 10-K for the fiscal year ended January 3, 2016, including in Exhibit 99 thereto, and the company’s subsequent filings with the Securities and Exchange Commission. Copies of these filings are available online at www.sec.gov, www.jnj.com or on request from Johnson & Johnson. DePuy Synthes Products Inc. and Johnson & Johnson do not undertake to update any forward-looking statement as a result of new information or future events or developments.
[1] “Brain Aneurysm Statistics and Facts,” Brain Aneurysm Foundation, http://www.bafound.org/about-brain-aneurysms/brain-aneurysm-basics/brain-aneurysm-statistics-and-facts/
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