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Johnson & Johnson to establish new biotechnology incubator in Israel
Posted By Viva Sarah Press On January 9, 2014 @ 6:30 am In | No Comments
Johnson & Johnson Innovation recently announced that it is expanding its global incubator presence in Israel with a new biotechnology incubator. In collaboration with the Office of the Chief Scientist in Israel and other industry partners, Johnson & Johnson Innovation will set up the new research and development center near the Weizmann Science Park.
“A key aim of Johnson & Johnson Innovation is to find novel ways of advancing the most promising early-stage science,” said Patrick Verheyen, Head of Johnson & Johnson Innovation, London. “The formation of the new biotechnology incubator in Israel is the product of an important collaboration between government, industry, and venture capital that demonstrates a multi-partner approach in practice. The collaboration provides a unique platform to support and advance new companies with not only funding, but also strategic advice from both venture capital and industry pharmaceutical development experts.”
Other partners behind the new public-private biotechnology incubator include Johnson & Johnson Development Corporation, Takeda Pharmaceutical, and OrbiMed Israel Partners.
Johnson & Johnson Innovation has announced several new R&D collaborations with academia and biotech around the world. This is the latest in a series of collaborations to fuel entrepreneurship in the world’s scientific hot spots.
“Addressing today’s unmet medical needs requires accessing the best science in the world and the best minds in the world working on it,” said Paul Stoffels, chief scientific officer and Worldwide Chairman, Pharmaceuticals, Johnson & Johnson.
“Through our customized deals and incubator strategy, we are collaborating with the world’s best innovators and academia to discover and develop the next generation of breakthrough medical solutions,” said Diego Miralles, head of Johnson & Johnson Innovation, California and global head Innovation, Janssen Pharmaceuticals.
The new Israeli incubator will be operational in early 2014.
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