Johnson & Johnson (NYSE:JNJ)’s new center targets academic researchers and biomedical start-ups, Celgene Corporation (NASDAQ:CELG)
Johnson & Johnson (NYSE:JNJ) is one of the world’s largest health care companies. Recently, the company has opened its Innovation Centre in Cambridge, Kendall Square. The new center will look forward to collaborate with academic researchers and biomedical start-ups in Boston and along the Eastern Seaboard. This is one of the four regional centers launched by the company. The company has already opened its center in London and California and will open its fourth centre in Shanghai by the end of this year.
The goal of the center is to advance improvised and innovative healthcare to the public. Dr. Robert Urban, the Head of the Boston innovation Center that they are pleased and thrilled to have officially opened their business doors in Boston. The company is looking forward to serve as a single point entry for innovators who will efficiently and creatively invest in their company and will explore new business relationships.
In addition, J&J has entered into several other initiatives with a number of companies and academic researchers. The company through J&J Development Corporation has invested in with a vision top share knowledge and expertise to advanced novel solutions for treatment of the central nervous systems. The company officials have not disclosed the total amount of their venture capital fund, but have informed that they have invested in more than 80 companies; each investment ranging from $5 million to $10 million in life sciences start-ups across the world.
Celgene Corporation (NASDAQ:CELG) is a biopharmaceutical company engaged in discovering, developing and commercializing therapies which are designed to cure cancer and immune-inflammatory diseases. Celgene through its research and development primarily focuses on bringing new therapies in the market. The company has recently licensed its two early stage drugs named ‘Myeloma’ and ‘Leukemia’ from a Munich based German company MorphoSys and has also bought stake in the said company.