Johnson & Johnson (NYSE:JNJ) said today that its J&J Innovation subsidiary and Houston’s Texas Medical Center are launching a medical technology accelerator called the Center for Device Innovation at Texas Medical Center, led by former Baylor University cardiac surgeon Dr. William Cohn.
The CDI @ TMC accelerator aims to speed the end-to-end development of “breakthrough” medical devices both within J&J and with external entrepreneurs, the company said, and expands its JLABS @ TMC collaboration with the world’s largest medical care complex.
“By creating a nexus for innovation, where scientists and engineers of the Johnson & Johnson family of companies can collaborate with academicians, expert clinicians, and external entrepreneurs to leverage the unique size, scope, and capabilities of TMC’s member institutions, we are confident that we can dramatically enhance health care around the world,” chief scientific officer Paul Stoffels said in prepared remarks.
The CDI @ TMC facility will include a new medical device engineering studio at the TMC Innovation Institute, staffed by J&J R&D workers, aimed at rapid prototyping and “fast failure” for early-and mid-stage projects. The accelerator will also offer “broad access” to the preclinical facilities of Baylor College of Medicine, Houston Methodist Research Institute, and THI for testing novel devices with any organ system or disease-based application, the company said.
“We are eager for the opportunity to expand our collaboration with Johnson & Johnson Innovation,” TMC president & CEO Dr. Robert Robbins said in a press release. “Working together, we are creating a globally competitive innovation ecosystem here, and the new Center for Device Innovation @ TMC will enable us to expeditiously bring discovery and innovation to fruition, directly improving the health of patients.”
Earlier today J&J reported increased sales and profits that topped Wall Street’s forecast.
