Janssen, a subsidiary of US-based pharmaceutical firm Johnson & Johnson, is set to launch a branch of its JLabs incubator programme in Toronto, Canada.
JLabs@Toronto is the result of an agreement between Janssen; Johnson & Johnson Innovation, the corporate venturing arm of Johnson & Johnson; non-profit company MaRS Discovery District, which commercialises publicly funded research; University of Toronto and Government of Ontario.
The incubator will host 50 startups from spring 2016 in a 40,000 square foot facility located at MaRS. It will focus on the biotechnology, pharmaceutical, medical device, consumer and digital health sectors, and startups will gain access to lab space, potential investors and mentorship.
The incubator has also attracted several hospitals, including Center for Addiction and Mental Health, The Hospital for Sick Children, Sinai Health System, St Michael’s Hospital, Sunnybrook Health Sciences Centre and University Health Network, which have committed to provide seed funding for the startups.
JLabs was originally established by Johnson & Johnson Innovation. The network spans five locations across the US, with Toronto marking its first incarnation abroad.
Melinda Richter, head of JLabs, said: “The Johnson & Johnson family of companies has long been active within the Toronto Ontario community, forming many important collaborations. Today we are pleased to begin an even deeper relationship with this important community.
“Our new location, within a University of Toronto site, close to our hospital collaborators, and neighbouring the financial centre of Canada, will deliver great opportunities and impact for emerging biomedical technology entrepreneurs.”