J&J s to establish innovation centers

Wednesday, September 19, 2012 10:14 AM

Johnson & Johnson is planning to establish four regional innovation centers in major life sciences communities in the world as part of a novel approach to accelerate early innovation and enhance opportunities for collaboration and investment across its global healthcare businesses.

Targeted to open in some of the world's leading innovation hotspots in California, Boston, London and China, the Johnson & Johnson innovation centers will serve as regional hubs focused on identifying early-stage innovations, and establishing novel collaborations to invest in and speed development of those innovations to solve unmet needs in patients. Each innovation center will house science and technology experts and have local deal-making capabilities, with flexibility to adapt deal structures to match the early-stage opportunity.

The innovation centers will provide scientists, entrepreneurs and emerging companies focused on early-stage opportunities with one-stop access to science and technology experts at Johnson & Johnson who can facilitate collaborations across its pharmaceutical, medical device and diagnostics and consumer companies.

"As a leading healthcare company in the world, our goal is to have continuous access to the best science and technology in the world," said Paul Stoffels, worldwide chairman, pharmaceuticals, Johnson & Johnson, and soon-to-be CSO. "The innovation centers allow us to be closer to where the innovation occurs, to access and invest in the best early-stage science and technology, and to fuel our business as well as the health of the innovation ecosystem overall. Together with innovators and entrepreneurs, we can more rapidly deliver value and make a difference in the health and lives of people worldwide."

The four innovation centers are scheduled to be operational in the coming months. Johnson & Johnson’s corporate office of science and technology, development corporation and RedScript Ventures will now be coordinated through the innovation centers.

"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,” said Diego Miralles, head of the California innovation center.

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