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Article: Johnson, Johnson, Thoratec sign pact.
- Article from:
- Daily News Record
- Article date:
- August 19, 1985
CopyrightCOPYRIGHT 1985 Conde Nast Publications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Johnson, Johnson, Thoratec Sign Pact
Thoratec Labs Corp., whose products include the waterproof and breathable fabric Bion II, said it signed an agreement in principle with Johnson & Johnson for a $5 million equity investment in the company by Johnson & Johnson.
In addition to the equity investment, under the agreement, Thoratec will get $2.5 million in advanced payments from Johnson & Johnson under a revised artificial blood vessel development program, an extension of Thoratec's program with Johnson & Johnson.
The transactions are subject to the negotiation and execution of definitive agreements.
For its equity investment, Johnson & ...