Johnson & Johnson Innovation is set to take its biotech incubator system JLABS outside of North America for the first time, entering China with a new Shanghai-based center.
Located in the Zhangjiang Hi-Tech Park, the center is set to open in Q2 2019 and is being launched in collaboration with Shanghai Municipal Government, Pudong New Area Government, and Shanghai Pharma Engine Company, Ltd.
Vladimir Makatsaria, Johnson & Johnson China Group Chairman, said, “China, and Shanghai specifically, have become a global hotspot for healthcare innovation.
“JLABS @ Shanghai will join our Asia Pacific Innovation Center, Janssen China Discovery Labs, Emerging Markets Innovation Center, and other initiatives across our Johnson & Johnson Family of Companies’ China organization in creating a Shanghai-based hub that strengthens our ability to meet the rapidly evolving healthcare needs of people in China and around the world.”
The center is set to accommodate up to 50 life science and healthcare startups, which will have a focus on innovation across the healthcare spectrum, including consumer and pharmaceuticals. Offering opportunities to both single entrepreneurs and bigger companies, the space is said to offer ‘residents’ a ‘capital efficient and flexible platform including an extensive network’ to aid the delivery of wellness solutions across China and the world.
The startups will have access to talent and mentors, large existing firms and research universities, capital and convergence opportunities with other sectors, while the 4,400 square-metre facility have cutting-edge lab space, equipment and access to scientific, industry and capital funding experts.