LONDON (ShareCast) - (Sharecast News) - Johnson & Johnson said on Tuesday that it has agreed to buy V-Wave, a privately-held company focused on developing treatment options for patients with heart failure, for up to $1.7bn.
Under the terms of the agreement, Johnson & Johnson will pay $600m upfront, with the potential for additional regulatory and commercial milestone payments of up to about $1.1bn.

V-Wave will join J&J as part of the MedTech business. The company said the deal will extend MedTech's position "as an innovation leader" in addressing cardiovascular disease.

Tim Schmid, executive vice president and worldwide chairman of Johnson & Johnson MedTech, said: "We are excited to welcome V-Wave to Johnson & Johnson MedTech and to take another meaningful step toward transforming the standard of care for cardiovascular disease. We recognise the importance of identifying more diverse and effective treatments for heart failure, and our recent track record demonstrates our focus on accelerating our impact on the most urgent and pressing unmet needs.

"We know V-Wave well, with our relationship dating back to our original investment in the company in 2016, and we have a deep understanding of the technology and science, as well as the company's commitment to patients. We look forward to working with the VWave team at this pivotal stage of its evolution to bring the Ventura® Interatrial Shunt technology to patients."

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