Lifecore deal

James Bracke, president and CEO of LCBM, said J&J wanted to go forward with the project, but also wanted to shift the project from its P&L to its balance sheet.

Ethicon will transfer all the assets of the project to LCBM, and LCBM will assume responsibility for completion of the project, including clinical trials of a second-generation hyaluronate product using certain Ethicon personnel in a consulting capacity. Bracke said the equity funding is more than enough cash to complete the project. ...