J&J to Establish Innovation Centers
Johnson & Johnson has announced plans to open four innovation centers in California, Boston, London and China, with the aim of accelerating early innovation and facilitating collaboration and investment opportunities. The company is aiming to have the centers operational within the coming months.
According to a press statement, the areas chosen for the centers are “innovation hotspots”. Each center will serve as a regional hub and will possess science and technology experts, as well as local deal-making capabilities. The centers will be looking to identify promising early stage innovations and to establish collaborations to further explore their development potential for unmet medical needs.
"Today, leading innovation sources have concentrated geographic presence in selected locations around the world," Diego Miralles, MD, head of the California innovation center, said in the J&J statement. "By refocusing our outward facing activities and locating our experts and our deal-making capabilities in those regional hubs we can simplify the deal making and coordination for entrepreneurs who are looking to collaborate and partner with the Johnson & Johnson Family of Companies."
The centers will provide scientists, entrepreneurs and emerging companies researching early stage opportunities with access to experts at J&J, who will then facilitate collaboration across J&J’s pharmaceutical, medical device and diagnostics, and consumer businesses. According to the press statement, J&J has a history of accessing early innovation through its Corporate Office of Science and Technology, J&J Development Corporation and RedScript Ventures, as well as other efforts in its business sectors. The new innovation centers will coordinate all early stage efforts into four hubs. Later licensing and acquisition opportunities will continue to be managed by J&J’s Business Development team.
"The innovation centers will help to deepen our relationships with the communities in key innovation hotspots and better support local entrepreneurs," Patrick Verheyen, head of the London innovation center, said in the J&J statement. "Ultimately they will serve to help us more quickly identify and tap into technological advancements that have the potential to benefit the health of people in the future."