Johnson & Johnson buys Neuravi in multimillion euro deal
Galway medtech company Neuravi has been taken over by US life sciences giant Johnson & Johnson Codman Neuro business in a deal that gives J&J access to the fast-growing strokecare market. DePuy Ireland Unlimited Company, an affiliate of Codman Neuro, is the acquiring entity. Financial terms of the transaction were not disclosed.
Founded in 2009, Neuravi has invested extensively in scientific research on the varieties of clots that cause acute ischemic stroke and has translated learnings into its EmboTrap Revascularization Platform. The EmboTrap device is engineered to restore blood flow to the brain by retrieving a clot with its proprietary dual-layer stent-like structure, and it has already been used to treat over 3,000 patients in Europe.
Globally, stroke is the second leading cause of death after the age of 60 and ischemic strokes, caused by blockages in vessels supplying blood to the brain, account for 87% of all strokes. According to the European Journal of Neurology, the number of stroke events in Europe is projected to rise from 1.1 million in 2000 to 1.5 million per year by 20253, while the American Heart Foundation estimates someone dies of a stroke every four minutes. In the US alone, the economic burden of stroke is estimated at $33 billion annually, including the cost of health care services, medications and lost productivity. “Rapid restoration of flow is of utmost importance when treating stroke patients,” said Shlomi Nachman, Company Group Chairman of Johnson & Johnson Medical Devices Cardiovascular & Specialty Solutions. “The EmboTrap platform was designed to address this critical need and we are excited to combine Neuravi’s expertise in clot research with Codman Neuro’s global resources to accelerate innovation in acute ischemic stroke treatment.”