Danaher Announces Strategic Collaboration with Tongjin Stem Cells, BD Appoints New Life Sciences President, and Johnson & Johnson Acquires V-Wave

Aug 22, 2024 16:08 CST Updated 16:08

Johnson & Johnson

Medical Device R&D and Manufacturer

Danaher Signs Strategic Cooperation with Tongjin Stem Cells, Integrating "Medical Research and Enterprise" to Empower Clinical Innovation and Transformation

On August 20, 2024, Danaher officially signed a strategic cooperation agreement with Tongjin Stem Cells of Shanghai East Hospital to jointly establish the "Tongjin Stem Cells-Danaher Innovation and Transformation Joint Research Institute." This collaboration aims to combine the advantageous resources of both parties, build a shared R&D experimental platform, and accelerate the advancement of stem cell medical research and the transformation of achievements.

Shanghai Tongjin Stem Cell Technology Co., Ltd. is a high-tech enterprise established by Professor Liu Zhongmin's team from Oriental Hospital affiliated with Tongji University, bringing together the core research team from the stem cell base and regenerative medicine institute. This strategic cooperation marks another significant achievement under Danaher’s "Dual Innovation Acceleration Engine" strategy, promoting clinical and academic innovation transformation and ushering in a new chapter of local innovation in China.

"Golden Stem Cell-Danaher Innovation and Transformation Joint Research Institute" will focus on new discoveries in life science research, new technologies in clinical diagnosis and treatment, and clinical transformation applications, jointly promoting medical research, achievement transformation, and the development of the healthcare industry. In addition, Golden Stem Cell will collaborate with Danaher to plan and build a research and development laboratory platform. Based on Golden Stem Cell's research and clinical research directions, Danaher will provide cutting-edge scientific research solutions to accelerate the development and transformation of scientific research and technological applications.

Stem cell technology, as a hotspot and frontier field in the current biopharmaceutical industry, is one of the most promising research areas for transformation. It is hailed as the third medical revolution following drug treatment and surgical treatment, demonstrating extraordinary therapeutic potential in the fields of major chronic diseases, difficult and complicated disorders, anti-aging, and tissue repair.

Danaher looks forward to collaborating with Tongjin Stem Cells to accelerate the resolution of technical challenges in the production and transition of stem cells. This collaboration aims to promote the standardization and intelligent production of stem cell technologies and products, expedite the national inspection process for stem cell medications, and inject new momentum into the development of the stem cell industry.

BD Officially Announces New President of Life Sciences Division

On August 12, 2024, BD's official website announced the appointment of Michael Feld as BD's new Executive Vice President and President of the Life Sciences segment. Effective from August 20, 2024, he will also serve as a member of the Executive Leadership Team. He succeeds Dave Hickey, who retired last month after a decade with BD.

Michael Feld comes from Veralto, a spin-off company of Danaher.Holding a Bachelor of Science degree from Tulane University and a Master of Business Administration degree from the Kellogg School of Management at Northwestern University.He has held several senior positions at Danaher, including Senior Vice President and General Manager of Cepheid Europe. In addition, he served as President of some of Danaher's businesses, including Mammotome, XOS, and Dover Motion.Michael Feld joins BD from Veralto, a subsidiary of Danaher, where he also served as President of Hach, a water quality testing instrumentation company. Prior to this, Feld held several senior positions at Danaher, including Senior Vice President and General Manager of Cepheid Europe, and served as President of several other Danaher businesses, including Mammotome, XOS, and Dover Motion, all of which focused on strategic planning, quality excellence, employee development, and cultural advancement.

BD Chairman, CEO and President Tom Polen said, "Mike's expertise in applying commercial and operational excellence principles to deliver impactful results, combined with his experience in diagnostic solutions, makes him well-suited to lead our Life Sciences segment. As BD’s Operational Excellence system gains momentum, Mike’s continuous improvement mindset will be a great asset to BD as our Life Sciences team continues to drive efficiencies and meaningfully expand value for our customers, their patients, and the global healthcare ecosystem. As President of BD’s Life Sciences segment—which includes Biosciences, Diagnostic Solutions, and Specimen Management—Feld will oversee an organization that is delivering innovative advancements from discovery to diagnostics. Under his leadership, BD Life Sciences will continue to focus on developing solutions around smart, connected, end-to-end workflows, sample collection in new care settings, and diagnostic solutions that will improve the diagnosis and treatment of chronic diseases."

Johnson & Johnson Acquires Medical Device Company V-Wave

August 20,Johnson & Johnson Announces on Its Official Website the Final Agreement to Acquire Medical Device Company V-Wave. According to the terms of the agreement, Johnson & Johnson will acquire V-Wave for an upfront payment of $600 million, with the potential for up to $1.1 billion in additional regulatory and commercial milestone payments. The transaction is expected to be completed by the end of 2024.

V-Wave, founded in 2009, is an Israeli cardiac medical device developer focusing on advanced heart failure technologies. Its flagship products include the V-Wave Atrial Shunt and the Ventura Atrial Shunt. Johnson & Johnson has announced it will acquire V-Wave. Under the agreement terms, Johnson & Johnson will acquire V-Wave for an upfront payment of $600 million, with potential additional regulatory and commercial milestone payments of up to $1.1 billion. The transaction is expected to be completed by the end of 2024.

Tim Schmid, Executive Vice President and Global Chairman of Johnson & Johnson MedTech, stated: "We are delighted to welcome V-Wave to Johnson & Johnson MedTech and take a meaningful step toward transforming the standard of care for cardiovascular diseases. We recognize the importance of identifying more diverse and effective treatments for heart failure, and our recent performance demonstrates our focus on accelerating impact on the most urgent and unmet needs."

V-Wave CEO Dr. Neal Eigler stated, "At V-Wave, we are committed to realizing our vision of helping patients around the world, and we know that Johnson & Johnson MedTech shares this mission." "We believe Johnson & Johnson MedTech is well-positioned to ensure that V-Wave's groundbreaking ideas and technologies reach patients in need as quickly and effectively as possible."

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Source: Corporate Release

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