Johnson & Johnson Innovation Celebrates Life Science Innovation
Collaborations Announced Between Regional Innovators and
Johnson & Johnson Family of Companies
LONDON (3 October, 2013): Johnson & Johnson Innovation today announced several new collaborations in the European region to coincide with a 'Celebration of Life Science Innovation' event, hosted by its London Innovation Centre. The event brings together UK life science leaders and scientists from the Johnson & Johnson Family of Companies to celebrate promising advances and discuss novel collaboration models to deliver better healthcare solutions for patients around the world.
Rt Hon David Willetts MP, Minister for Universities and Science, Professor Dame Sally Davies, Chief Medical Officer for England, and Dr. Paul Stoffels, Chief Scientific Officer and Worldwide Chairman, Pharmaceuticals at Johnson & Johnson, discussed strategies for supporting the health and growth of the innovation ecosystem at the event being held at the recently-opened Johnson & Johnson Innovation Centre in London.
Science Minister David Willetts said: "The UK has a long tradition in using collaboration and partnership to spark new ideas and develop new advances in the life sciences. I am pleased that Johnson & Johnson have recognised that strength, and chosen London to be one of their world centres for innovation and collaboration. The UK Government is committed to creating an environment in which life sciences can thrive in the UK, as outlined in our industrial strategy. I want to see the sector continue to grow and be at the front of the global life sciences race."
"Investing in, collaborating with, and providing support to early-stage companies and entrepreneurs is critical to our overall strategy of advancing innovation in life science hotspots throughout the world," said Paul Stoffels, MD. "This exemplifies our broader R&D approach towards science-led engagement with external collaborators which we believe will accelerate the development of new healthcare solutions that bring more years of life and enhanced quality of life to people around the world."
The London Innovation Centre is one of Johnson & Johnson Innovation's four regional hubs that focus on identifying and accelerating the most promising early-stage science that will advance the development of new healthcare solutions. Several new collaborations were announced today across the European region:
Collaboration with Effimune – Effimune, a biotech company dedicated to the discovery and development of drugs that regulate the immune system in autoimmune disease and transplantation, and Janssen Biotech, Inc., one of the Janssen Pharmaceutical Companies of Johnson & Johnson, have entered into a global option and license agreement. The agreement provides for a collaboration among Effimune, the Johnson & Johnson Innovation Centre, London, and the Janssen Immunology Therapeutic Area to focus on the development and commercialization of FR104, a monoclonal antibody fragment in preclinical development for the treatment of immune-mediated diseases.
Investment in Merus – Johnson & Johnson Development Corporation (JJDC) has made an investment in Merus B.V., a private, venture-backed biopharmaceutical company based in Utrecht, The Netherlands that is building a pipeline of single-cell derived human bi-specific antibodies for cancer therapy. The company is developing antibodies that target both solid tumours and blood tumours and is the lead in a consortium effort to develop bi-specific antibodies targeting cancer stem cells with the aim of addressing the elusive problem of recurrent cancer. The investment aligns with the Janssen Pharmaceutical Companies' strategic interest in oncology, which focuses on several tumour types, including prostate, hematologic, lung and colorectal, to bring the most compelling science to bear in the development of transformational therapeutic solutions. JJDC is participating in the extension of Series B funding as part of a syndicate that includes all the original Series B investors. JJDC is a strategic corporate venture capital fund whose investors are co-located with scientific teams in the regional innovation centres to collaborate closely on identifying investment opportunities.
Research Collaborations - Working in collaboration with Janssen Pharmaceuticals, Inc. and the Crucell Vaccine Institute, the London Innovation Centre has also facilitated two vaccine research collaborations. Under one agreement with DCPrime B.V., Janssen will utilize DCPrime's DCOne™ technology in feasibility studies for the development of a dendritic cell-based vaccine. In a second agreement, Crucell will collaborate with CureVac, on the development of a respiratory vaccine based on CureVac's RNActive® technology.
"We are delighted to advance a broad range of collaborations based on exciting early-stage science with the potential to lead to transformative products for patients," commented Patrick Verheyen, head of the Johnson & Johnson Innovation Centre, London. "Connecting innovators with the resources necessary to advance new products is central to our mission at Johnson & Johnson Innovation."
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About Johnson & Johnson Innovation
The London Innovation Centre is part of Johnson & Johnson Innovation, a division of Johnson & Johnson Finance Limited. Johnson & Johnson Innovation focuses on accelerating early innovation and enhancing opportunities for collaboration and investment across Johnson & Johnson's global healthcare businesses. Johnson & Johnson Innovation provides scientists, entrepreneurs and emerging companies focused on early-stage opportunities a one-stop access to science and technology experts who can facilitate collaborations across the pharmaceutical, medical device and diagnostics and consumer companies of Johnson & Johnson. Johnson & Johnson Innovation includes local deal-making capabilities with the flexibility to adapt deal structures to match early-stage opportunities and establish novel collaborations that speed development of those innovations to solve unmet needs in patients. For more information please visit: www.jnjinnovation.com.
About Johnson & Johnson Development Corporation
Johnson & Johnson Development Corporation (JJDC) is the venture capital subsidiary of Johnson & Johnson, with investment activity in the medical device, diagnostic, pharmaceutical, and consumer health areas. Our goal is to create opportunities that meet the strategic needs of our growing operating affiliates while providing visibility to innovative emerging technology, businesses and business models. JJDC measures the success of an investment's performance not only in financial returns, but also in the viability of providing strategic growth opportunities for the Johnson & Johnson Family of Companies. JJDC is interested in opportunities that address significant unmet medical needs, have clear competitive advantages, IP protection, an executable clinical and commercialization plan, and are led by experienced management. JJDC invests in companies across the continuum from early stage seed investments to the advanced stages of series venture management. Our investment teams are based predominantly in Johnson & Johnson Innovation's four regional centers in Boston, California, London, and Shanghai. For more information, please visit http://jjdevcorp.com
This press release contains "forward-looking statements" as defined in the United States Private Securities Litigation Reform Act of 1995. The reader is cautioned not to rely on these forward-looking statements. These statements are based on current expectations of future events. If underlying assumptions prove inaccurate or unknown risks or uncertainties materialize, actual results could vary materially from the expectations and projections of Johnson & Johnson Finance Limited, Johnson & Johnson Development Corporation, any of the Janssen Pharmaceutical Companies and/or Johnson & Johnson. Risks and uncertainties include, but are not limited to, general industry conditions and competition; economic factors, such as interest rate and currency exchange rate fluctuations; technological advances, new products and patents attained by competitors; challenges inherent in new product development, including obtaining regulatory approvals; challenges to patents; impact of business combinations; changes in behavior and spending patterns or financial distress of purchasers of health care products and services; changes to governmental laws and regulations and domestic and foreign health care reforms; trends toward health care cost containment; and increased scrutiny of the health care industry by government agencies. A further list and description of these risks, uncertainties and other factors can be found in Exhibit 99 of Johnson & Johnson's Annual Report on Form 10-K for the fiscal year ended December 30, 2012. Copies of this Form 10-K, as well as subsequent filings, are available online at www.sec.gov, www.jnj.com or on request from Johnson & Johnson. Johnson & Johnson Finance Limited, Johnson & Johnson Development Corporation, the Janssen Pharmaceutical Companies and Johnson & Johnson do not undertake to update any forward-looking statements as a result of new information or future events or developments.