Johnson & Johnson Innovation invested about $8.4 million in medical device company Mauna Kea Technologies, acquiring 5.3 million shares.
J&JI is Johnson & Johnson's venture capital arm. J&J will receive no board representation as a result of its investment. The companies are currently working to develop tools to diagnose and treat lung cancer. Mauna Kea developed the Cellvizio platform, which can be used to treat an array of conditions, including Barrett's esophagus. The companies are working to use the Cellvizio platform and the AQ-Flex-19 Confocal Miniprobe to treat lung cancer.