J&J spreads deal-making net with global ring of satellite offices
Johnson & Johnson ($JNJ) has been gaining widespread attention for the four big innovation centers it's establishing in key biotech hubs around the world. Now it's begun to open up satellite offices for its deal-making crews in a few key locales like Israel, the U.K., Australia and… Minneapolis?
|R&D chief Paul Stoffels|
This week the pharma giant opened up a partnering office at the Stevenage Bioscience Catalyst, a campus site that aims to connect up-and-coming biotechs with big players like J&J, according to PMLive. That will be a satellite of the big London unit, where J&J has gathered a cross-disciplinary group of lawyers, scientists and deal-makers charged with tracking down next-gen technology for the pharma giant. Under the direction of R&D chief Paul Stoffels, J&J has also opened regional centers in Boston and San Francisco (which has a satellite in San Diego). And the final site is slated to open later in Shanghai.
FierceBiotech asked J&J today about all its satellite plans and heard this from a spokesperson: "With respect to your question below on satellite offices, the Johnson & Johnson innovation centers will serve as regional hubs and link into satellite locations such as Israel, Australia and Minneapolis in the U.S."
The Minneapolis/St. Paul Business Journal picked up on the rumor a few days ago, noting that J&J's venture arm has invested in a few local companies after buying up a medical equipment refurbishment group called Sterilmed.
Presumably there will be more of these satellite offices to come. We'll fill you in on the little details like when they open and what they plan to do as J&J--always a tad slow to open up--reveals more.
- here's the story from PMLive
J&J pitches plan to spawn new biotechs, strike deals in San Francisco
J&J opens new innovation center in quest for more early-stage deals
J&J taps top blockbusters in the pipeline, lays out global R&D strategy
J&J stakes out Boston/Cambridge HQ for new innovation center
J&J plans innovation centers, looking for buys and team-ups