By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Health Works CollectiveHealth Works Collective
  • Health
    • Mental Health
    Health
    Healthcare organizations are operating on slimmer profit margins than ever. One report in August showed that they are even lower than the beginning of the…
    Show More
    Top News
    health benefits of taking a vacation to reduce stress
    Relaxing European Destinations to Reduce Stress Risks to Health
    October 11, 2021
    pain management tips
    Managing Pain Differently: Alternative Pain Management Techniques
    January 12, 2022
    5 Ways to Promote Wellness in Your Home
    April 12, 2022
    Latest News
    Getting Back in the Game: Sports Injuries Rehabilitation Tips
    May 31, 2023
    4 Signs It’s Time to See a Therapist
    May 24, 2023
    11 Ways To Modernize Your Private Practice
    May 17, 2023
    How to Recognize the Signs of Hormonal Imbalance in Men
    May 29, 2023
  • Policy and Law
    • Global Healthcare
    • Medical Ethics
    Policy and Law
    Get the latest updates about Insurance policies and Laws in the Healthcare industry for different geographical locations.
    Show More
    Top News
    Vaccines in the Pipeline and Vaccine Economics
    November 18, 2011
    Seven Senior Health Tips For The Holidays
    December 21, 2011
    Health Affairs Briefing Addresses Costly Consequences of Diabetes Treatment in America
    January 12, 2012
    Latest News
    MRI Sedation Options: What You Should Know Before Screening
    May 17, 2023
    What is the Process of Creating Medicine from Nature?
    May 2, 2023
    Choosing the Right Treatment Option for Varicose Veins
    May 2, 2023
    What Are Wrong-Site Surgeries and How Do They Occur?
    April 27, 2023
  • Medical Innovations
  • News
  • Wellness
  • Tech
Search
© 2023 HealthWorks Collective. All Rights Reserved.
Reading: Janssen Labs Expands Its Incubator Model to New San Francisco Digs
Share
Sign In
Notification Show More
Aa
Health Works CollectiveHealth Works Collective
Aa
Search
Have an existing account? Sign In
Follow US
  • About
  • Contact
  • Privacy
© 2023 HealthWorks Collective. All Rights Reserved.
Health Works Collective > Business > Finance > Janssen Labs Expands Its Incubator Model to New San Francisco Digs
BusinessFinanceHospital Administration

Janssen Labs Expands Its Incubator Model to New San Francisco Digs

Deanna Pogorelc
Last updated: 2014/05/27 at 8:00 AM
Deanna Pogorelc
Share
5 Min Read
SHARE

Melinda Richter_HeadshotFirst published on MedCityNews.com. A new 30,000-square-foot incubator opening later this year in South San Francisco aims to make starting a life science company as quick and capital-efficient as starting a tech company.

Melinda Richter_HeadshotFirst published on MedCityNews.com. A new 30,000-square-foot incubator opening later this year in South San Francisco aims to make starting a life science company as quick and capital-efficient as starting a tech company.

The incubator, which will house up to 50 healthcare startups, is the newest offshoot of Janssen Labs, a component of Johnson & Johnson’s external R&D engine that runs no-strings-attached incubators in San Diego and Boston, too. In exchange for a monthly fee, startups get access to private and shared lab and office spaces as well as operational support, education and business services.

“The goal is to be able to have these companies get started within 24 hours without having to have investment dollars – in fact, they can start their company on a credit card if they need to – and to focus on the science,” said Melinda Richter, head of Janssen Labs.

More Read

employee's wellness

How Hospitals and Other Healthcare Providers Can Boost Employee Morale

What are the Benefits of Hospitals and Clinics Using Expense Management Services?
Tips to Keep Health Workers Safe in the Workplace
9 Hospitals That Have Introduced Green Initiatives
Best Money-Saving Tips for Health Managers

I interviewed Richter last month, and she explained how the model was designed to move science forward, to improve the overall investment profile of the life science sector and to help Janssen’s pharmaceutical and biotech businesses grow their pipelines.

Janssen doesn’t take equity in any of the companies that take up residence in its incubator, nor does it guarantee them any kind of future deals with the company. But it does provide them early connections that may eventually lead to deals. Five of the 56 companies that have so far been part of the incubator have established further relationship with J&J/Janssen, including Assembly Pharma, which got an investment from Johnson & Johnson Development Corp. last month.

Meanwhile, other startups have partnered with different big pharma and biotech companies — a move both encouraged and applauded by Janssen Labs. Triphase Pharmaceuticals, for one, signed a deal with Celgene earlier this year around options for the cancer drugs it’s developing.

In our interview, Richter talked more in depth about how and why the no-strings-attached, open innovation model works.

If Janssen/J&J in most cases isn’t taking a financial or business interest in these companies, what kind of benefit does it see from Janssen Labs?

“There’s no shortage of need, and that’s why we believe that doing things for the industry, which is good for all of our competitors, is good. We’re not scared of that at all. In fact, we want the industry to get better; we want everyone to benefit from it because the need is so great and it’s growing every day. We don’t worry about having market. There’s plenty of market out there for everybody. What we need to do is make this industry a better investment profile for investors to put their money into it.”

So what’s the logic around which companies get in?

“We go through a selection process to determine which companies have the highest potential to meet an important unmet medical need. That need may be within our strategic areas of interest, or it may not. We can look at something that may be outside our current areas of interest, but we know because it’s so early stage it may end up in our strategic areas of interest. But we also look for companies that have great science behind them and rock star teams. Those teams can comprise experienced serial entrepreneurs, or they could be hot, dynamic new talent with a passion for something revolutionary. We want to support that mixed community.”

As Janssen Labs expands, will it continue to evolve?

“We’re looking at physically, where are the right regions to be in and how should we show up there. We’re also looking at expanding our sectors. We cross all sectors, from consumers to medical device diagnostics to therapeutics. We also have healthcare IT, so we’re looking at how do we get into the tech space in the life sciences in a bigger way. And we’re also looking at how we can add more solutions for the companies. In that regard, we don’t consider our model static at all. You will continue to see this model become something more integrated with the companies but also integrated within Johnson & Johnson.”

TAGGED: health startup, Janssen Labs

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.
By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
Deanna Pogorelc May 27, 2014
Share this Article
Facebook Twitter Copy Link Print
Share
Previous Article outsource medical billing 5 Signs You Should Outsource Your Medical Billing
Next Article Joseph A Bianco, MD Harvesting the Collective Patient Experience

Stay Connected

1.5k Followers Like
4.5k Followers Follow
2.8k Followers Pin
136k Subscribers Subscribe

Latest News

11 ways nurses can care for patients during mental health crises
11 ways nurses can care for patients during mental health crises
Mental Health June 6, 2023
test
Essential Steps for Starting Your Journey as a Fitness Instructor
Fitness June 5, 2023
mimosa pudica
Health Benefits of Mimosa Pudica: The Marvel of Nature
News June 2, 2023
medical bills
Who is Responsible for Paying the Medical Bills After an Injury?
News June 1, 2023

You Might also Like

Types of Remote Access Solutions for Hospitals
Medicare

Types of Remote Access Solutions for Hospitals

April 27, 2023
get a career in medical device sales
Medicare

What Are the Benefits of Attending Medical Sales College?

April 10, 2023
subscription based telemedicine
Hospital Administration

Subscription Management Solutions Are Crucial for Telemedicine

April 5, 2023
patient's well-being
Hospital Administration

Comfort And Safety: 7 Ways Healthcare Organizations Can Create A Better Environment For Their Patients

April 4, 2023
//

We influence million of users and is the most authentic source of information on healthcare business and technology news.

Quick Links

  • About
  • Contact
  • Privacy
Subscribe

Subscribe to our newsletter to get our newest articles instantly!

Follow US

© 2008-2023 HealthWorks Collective. All Rights Reserved.

Welcome Back!

Sign in to your account

Lost your password?