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Johnson & Johnson Innovation Announces 40+ Resident Companies now at JLABS @ Toronto

May 11, 2017 - Toronto, ON
4 years ago
Press release

Johnson & Johnson Innovation LLC, today announced 24 new companies have become residents of Johnson & Johnson Innovation, JLABS @ Toronto since its grand opening exactly a year ago. The 40,000-square-foot life sciences incubator now hosts a total of 40+ companies, and provides these entrepreneurs shared lab space and offices, modular lab suites and access to scientific, industry and capital funding experts, all with no-strings attached. The companies represent a range of sectors including pharmaceuticals, medical devices and consumer health solutions with focus areas such as oncology, vision care, genomics, neuroscience, infectious diseases, immunology and the microbiome.

“Since opening its doors a year ago, JLABS @ Toronto has successfully attracted a multitude of promising companies from our province’s life sciences community, led by academic hospitals, world-class research institutes, top scientists and a strong health start-up network,” said the Honourable Reza Moridi, Minister of Research, Innovation and Science. “They have helped our province continue to build up Ontario’s vibrant innovation ecosystem, create good jobs, and strengthen our position in the global knowledge economy while also providing access to incredible resources for our life science entrepreneurs.”

Johnson & Johnson Innovation seeks to fuel the best science and technology, no matter where it is located, to solve the greatest unmet medical and healthcare needs of our time. In addition to offering emerging life science companies modular lab units, office space, shared core laboratory equipment, business facilities, third-party services and educational events, JLABS links the entrepreneurs of Toronto with the full breadth of Johnson & Johnson Innovation, including opportunities for funding, access to research and development experts from medical technology, consumer healthcare product and the pharmaceutical teams at Janssen Inc. JLABS @ Toronto provides access to scientific, industry and capital funding experts from across the industry, and operates under the JLABS no-strings attached model, which means resident companies can completely retain their intellectual property and there are no first rights of refusal.

“Our goal is to support early stage innovators with the resources and network needed to grow, and as evident by the 40 companies that reside within JLABS @ Toronto, we are already accomplishing what we set out to do in just one year of operation,” said Melinda Richter, head of JLABS, Johnson & Johnson Innovation. “The no-strings attached model has been very important to our success in attracting so many quality companies, as it allows entrepreneurs the freedom to operate and do what is best for their company. We are hopeful that providing JLABS to the life sciences ecosystem in Toronto will support continued economic growth and development in the region.”

Since opening last year, JLABS @ Toronto has helped boost the Canadian life sciences ecosystem by hosting more than 5,300 attendees at over 50 events. More than 90 experts from a multitude of industries have spoken at these events in the last year. JLABS @ Toronto resident companies are receiving access to expertise from across the Johnson & Johnson Family of Companies.

“Through their world-class incubator, Johnson & Johnson Innovation is providing much needed infrastructure and access to funding sources for early-stage innovators to help drive their ideas forward,” said the Honourable Brad Duguid, Minister of Economic Development & Growth. “Ontario welcomes JLABS @ Toronto’s innovative and flexible platform, providing a total of 40 companies with access to incredible business resources while allowing researchers to keep the freedom and flexibility they need to be successful.”

JLABS @ Toronto has facilitated over 150 meetings of startups with visiting funding experts from throughout North America. Through a unique collaboration, JLABS @ Toronto companies will be considered for funding and mentoring from Spectrum 28, a Silicon Valley venture capital firm.

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