Johnson & Johnson (NYSE:JNJ) is looking to re-energize its early-stage deal-making with the launch of 4 new international innovation centers, fully equipped with J&J science and technology experts focused on emerging opportunities.
Opening in Boston, San Francisco, London and China, the centers are part of a novel J&J initiative to "accelerate early innovation and enhance opportunities for collaboration and investment across its global healthcare businesses," according to a company statement.
"As a leading healthcare company in the world, our goal is to have continuous access to the best science and technology in the world," worldwide pharma chairman and incoming chief scientific officer Dr. Paul Stoffels said in prepared remarks. "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."
The new setups give the industry titan a local foothold in high-profile life sciences hubs, where J&J can keep a closer eye on emerging technologies and influential research.
"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," San Francisco innovation center head Dr. Diego Miralles said in a prepared statement. "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 centers, expected to open in coming months, will consolidate the healthcare giant’s research, development and investment efforts for its medical device, pharmaceutical, diagnostics and consumer businesses, according to a press release. Work previously conducted through various business sectors, including J&J’s Corporate Office of Science & Technology, J&J Development Corp. and RedScript Ventures, will all be coordinated through the innovation centers, the company announced.
J&J’s corporate business development team will continue to oversee later-stage deals, all mergers & acquisitions and any deals with larger biotech or pharmaceutical companies.
