J&J’s new biotech incubator is located near the Weizmann Science Park, in Rehovot, Israel. It has been launched by two of the firm’s subsidiaries, Johnson & Johnson Development Corporation, the company’s venture capital unit, and Johnson & Johnson Innovation, which provides scientific researchers access to technology experts. The Office of the Chief Scientist in Israel, Takeda Pharmaceutical Company, and OrbiMed Israel Partners are also taking part in the public-private project.
Patrick Verheyen, Head of Johnson & Johnson Innovation London said: “The formation of the new biotechnology incubator in Israel is the product of an important collaboration between government, industry and venture capital that demonstrates a multi-partner approach in practice.
“The collaboration provides a unique platform to support and advance new companies with not only funding, but also strategic advice from both venture capital and industry pharmaceutical development experts.”.
The first incubator launched by Johnson & Johnson (J&J) was Janssen Labs, in San Diego, in 2012. It was followed by LabCentral in Boston, California Institute for Quantitative Biosciences (QB3) in San Francisco as well as NEOMED and MaRS Innovation, in Montreal and Toronto respectively.
J&J has three innovation centres in London, Boston and California dedicated to finding new research projects and partners. A fourth will open in Shanghai this year.
“Through our customized deals and incubator strategy, we are collaborating with the world’s best innovators and academia to discover and develop the next generation of breakthrough medical solutions,” said Diego Miralles, Head of Johnson & Johnson Innovation, California and Global Head Innovation, Janssen Pharmaceuticals.