J&J China acquires Guangzhou Bioseal Biotech
Friday, May 4, 2012
Johnson & Johnson China Investment has acquired Guangzhou Bioseal Biotech, a privately held biopharmaceutical company specializing in the design, development and commercialization of a porcine plasma-derived biologic product for controlling bleeding during surgery. Financial terms of the transaction are not being disclosed.
Bioseal Biotech will work closely with Ethicon, a J&J company that offers a complete line of absorbable hemostats. The acquisition will complement Ethicon’s existing biosurgery portfolio and will allow the business to immediately enter the fibrin sealant market in China, broaden product offerings and create an opportunity to increase global reach by introducing advanced biologic solutions that meet the various needs of more physicians and patients, throughout Asia and around the world.
Bioseal Biotech manufactures a porcine-derived fibrin sealant, Bioseal, currently the only porcine plasma-derived fibrin sealant approved for use in China. Fibrin sealants are used by surgeons as an adjunct to hemostasis for use in patients undergoing surgery when control of bleeding by standard surgical techniques is ineffective or impractical.
“By adding Bioseal to the existing line of Ethicon hemostasis products sold in China, we aspire to shape the broader biosurgery market in Asia by providing physicians and their patients with an even greater variety of innovative and clinical-based solutions to address bleeding, sealing and leaking challenges,” said Michael del Prado, company group chairman, J&J Medical Asia Pacific.
This is the first acquisition in the medical device industry for J&J China.