Essex Woodlands and Smith & Nephew plc welcomed the new year with a new idea that could launch the device maker into the drug world and create a trend for other life sciences companies and venture capitalists.
Essex entered a strategic partnership with the London-based device maker to transform Smith & Nephew's orthopedic biologics division into a global spinout that will focus on both devices and drugs. The venture capital firm will invest at least $60 million as part of $118 million of equity in return for 51 percent controlling interest in the new company, Bioventus LLC.
Pantheon Ventures, a limited partner of Essex, and Spindletop Healthcare Capital may …
No comments:
Post a Comment