Johnson & Johnson Announces Plans to Establish Innovation Centers
New approach to accelerate partnering and investment in thriving science and technology communities
NEW BRUNSWICK, N.J., Sept. 18, 2012 /PRNewswire/ -- Johnson & Johnson today announced plans 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, 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."
Johnson & Johnson has a longstanding history of accessing early innovation through the Corporate Office of Science and Technology, Johnson & Johnson Development Corporation and RedScript Ventures, and through efforts within its business sectors. Those early stage efforts will now be coordinated through the innovation centers. Later stage licensing and acquisition opportunities, and any deals with established larger pharmaceutical companies and mid to large biotech, as well as all M&A activities, will continue to be managed by the Business Development team.
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 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 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."
More details about Johnson & Johnson's innovation centers will be available in the coming months. For more information on the new Johnson & Johnson innovation centers send an email to firstname.lastname@example.org.
About Johnson & Johnson
Caring for the world, one person at a time...inspires and unites the people of Johnson & Johnson. We embrace research and science — bringing innovative ideas, products and services to advance the health and well-being of people. Our approximately 128,000 employees at more than 250 Johnson & Johnson operating companies work with partners in health care to touch the lives of over a billion people every day throughout the world.
For more information, visit www.jnj.com.
(This press release contains "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. The reader is cautioned not to rely on these forward-looking statements. These statements are based on current expectations of future events. If underlying assumptions prove inaccurate or unknown risks or uncertainties materialize, actual results could vary materially from the expectations and projections of Johnson & Johnson. Risks and uncertainties include, but are not limited to, general industry conditions and competition; economic factors, such as interest rate and currency exchange rate fluctuations; technological advances, new products and patents attained by competitors; challenges inherent in new product development, including obtaining regulatory approvals; challenges to patents; significant adverse litigation or government action; impact of business combinations; financial distress and bankruptcies experienced by significant customers and suppliers; changes to governmental laws and regulations and domestic and foreign health care reforms; trends toward health care cost containment; increased scrutiny of the health care industry by government agencies; changes in behavior and spending patterns of purchasers of health care products and services; financial instability of international economies and sovereign risk; disruptions due to natural disasters; manufacturing difficulties or delays; and product efficacy or safety concerns resulting in product recalls or regulatory action. A further list and description of these risks, uncertainties and other factors can be found in Exhibit 99 of Johnson & Johnson's Annual Report on Form 10-K for the fiscal year ended January 1, 2012. Copies of this Form 10-K, as well as subsequent filings, are available online at www.sec.gov, www.jnj.com or on request from Johnson & Johnson. Johnson & Johnson does not undertake to update any forward-looking statements as a result of new information or future events or developments.)
Seema Kumar Stan Panasewicz
SOURCE Johnson & Johnson
Posted: September 2012