Conor MedSystems

About Conor MedSystems

Conor Medsystems, Inc. operated as a medical device manufacturer, focusing on the development of controlled vascular drug delivery systems. Founded in 1999 and based in Menlo Park, California, the company directed its efforts towards creating drug-eluting stents designed to treat restenosis, the re-narrowing of an artery after angioplasty. The company's key product was the CoStar™ stent, a paclitaxel-eluting cobalt chromium stent featuring a bioabsorbable polymer.

What set Conor Medsystems' technology apart was its stent design, which incorporated hundreds of small reservoirs. This feature allowed for site-specific drug delivery and held the potential for releasing multiple therapeutic agents. This design was intended to offer greater control over the rate and direction of drug elution, potentially enhancing the effectiveness and expanding the clinical applications of drug-eluting stents. The company's business model revolved around the development and commercialization of this stent technology for the treatment of various cardiovascular conditions, including coronary artery disease.

A significant milestone in the company's history was its acquisition by Johnson & Johnson in a deal announced in late 2006 and finalized in February 2007 for approximately $1.4 billion. This strategic acquisition was aimed at strengthening Johnson & Johnson's position in the competitive drug-eluting stent market. Following the acquisition, Conor Medsystems was integrated into Johnson & Johnson's Cordis franchise. The deal provided Cordis with Conor's reservoir-based drug delivery technology. Prior to its acquisition, Conor Medsystems had secured significant venture capital funding, raising $38 million over two rounds from investors including Highland Capital Partners and Easton Capital Investment Group.