Wisconsin State Journal:
Terms of the transaction have not been disclosed. No jobs in Madison are expected to be lost.
“We are really excited to be acquired by a great company like Johnson & Johnson,” NeuWave CEO Dan Sullivan said. “It will help us expand our new product development and our global presence.”
NeuWave, 3529 Anderson St., makes probes that attack soft tissue lesions, including cancerous tumors, destroying them with microwave energy.
UW-Madison professors Fred Lee and Daniel van der Weide developed the technology and NeuWave, founded in 2008, licensed it from the Wisconsin Alumni Research Foundation.