Updated on 19 September 2012
Singapore: Johnson & Johnson plans to establish four regional innovation centers in major life sciences communities of 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 Mr Paul Stoffels, MD, worldwide chairman, Pharmaceuticals, Johnson & Johnson (and Johnson & Johnson Chief Scientific Officer, effective October 1). "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.
"Today, leading innovation sources have concentrated geographic presence in selected locations around the world, and our goal is to become an active part of these ecosystems," said Mr Diego Miralles, MD, head of the California innovation center. "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 innovation centers will help to deepen our relationships with the communities in key innovation hotspots and better support local entrepreneurs," said Mr Patrick Verheyen, head of the London innovation center. "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."