Johnson & Johnson Innovation Announces Collaboration with Singapore Economic Development Board to Help Transform Singapore's Life Science Innovation Ecosystem
The first-of-its-kind collaboration will embed the services and resources of Johnson & Johnson Innovation - JLABS into Singapore's life science ecosystem to unlock regional innovation potential.
SINGAPORE, Sept. 26, 2023 /PRNewswire/ -- Johnson & Johnson International (Singapore) Pte. Ltd. today announced a collaboration with the Singapore Economic Development Board (EDB) to unlock innovation potential in Singapore's life sciences ecosystem. This collaboration is the first of its kind and will leverage Johnson & Johnson Innovation – JLABS' services and innovation resources aimed at boosting the region's innovation output.
Under this collaboration, JLABS will support early-stage companies with a base in Singapore to help accelerate their early-stage discoveries into innovative medicines, medical technologies, and healthcare solutions. JLABS will also collaborate with local incubators and other strategic partners in the ecosystem on venture and talent development offerings to stimulate employment and commercialization opportunities for early-stage companies.
This collaboration with EDB demonstrates the ongoing commitment of Johnson & Johnson to enable and accelerate the best science and technology in the Asia Pacific region with the ambition of addressing critical unmet medical and healthcare needs. It builds on the success of JLABS' no-strings-approach and more than a decade of experience, as well as JLABS' reputation as the largest global network of life science startups, investors, and corporate partners.
"At Johnson & Johnson Innovation, we source and cultivate the world's most promising, early-stage healthcare innovation wherever it originates," said William N. Hait, M.D., Ph.D., Executive Vice President, Chief External Innovation and Medical Officer, Johnson & Johnson. "We are thrilled to partner with EDB to advance the thriving life sciences community in Singapore and help unleash the potential of healthcare innovation in the Asia Pacific region for the rest of the world."
"The needs of the next generation of global innovators, potential partners, and early-stage companies are changing rapidly, and Johnson & Johnson is committed to pioneering new approaches to address them, like this significant collaboration with EDB," said Melinda Richter, Global Head of Johnson & Johnson Innovation – JLABS. "This type of collaboration exemplifies our pivotal role as an innovation, talent, economic and venture developer with a mission to empower our partners with the knowledge, experience, networks and practical frameworks they need to make an impact for patients."
Johnson & Johnson Innovation – JLABS and EDB will be co-hosting a symposium in Singapore before the end of the year, with subsequent announcements emerging from this new collaboration. For companies and innovators interested in JLABS, please visit https://jnjinnovation.com/locations/jlabs/jlabs-singapore.
About Johnson & Johnson Innovation – JLABS
Johnson & Johnson Innovation – JLABS (JLABS) is the largest global network of open innovation ecosystems, enabling and empowering emerging companies with the knowledge, experience, partnerships, and venture connections across a broad healthcare spectrum including pharmaceutical and medical technology sectors. Our goal is to catalyze and accelerate the delivery of lifesaving, life-enhancing solutions to patients around the world. JLABS is a no-strings-attached model, which means innovators are free to develop their science and technology while holding on to their intellectual property. JLABS also produces campaigns to seek out the best science and technology called QuickFire Challenges. For more information, visit?https://jnjinnovation.com/jlabs?or follow?@JLABS.
Cautions Concerning Forward-Looking Statements
This press release contains "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995 related to a collaboration with the Singapore Economic Development Board. 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 known or unknown risks or uncertainties materialize, actual results could vary materially from the expectations and projections of Johnson & Johnson Innovation LLC, Johnson & Johnson International (Singapore) Pte. Ltd., and/or Johnson & Johnson. Risks and uncertainties include, but are not limited to: the potential that the expected benefits and opportunities related to the collaboration may not be realized or may take longer to realize than expected; challenges inherent in new product development, including the uncertainty of clinical success and obtaining regulatory approvals; competition, including technological advances, new products and patents attained by competitors; uncertainty of commercial success for new products; the ability of the company to successfully execute strategic plans; impact of business combinations and divestitures; challenges to patents; changes in behavior and spending patterns or financial distress of purchasers of health care products and services; and global health care reforms and trends toward health care cost containment. A further list and descriptions of these risks, uncertainties and other factors can be found in Johnson & Johnson's Annual Report on Form 10-K for the fiscal year ended January 1, 2023, including in the sections captioned "Cautionary Note Regarding Forward-Looking Statements" and "Item 1A. Risk Factors," and in Johnson & Johnson's subsequent Quarterly Reports on Form 10-Q and other filings with the Securities and Exchange Commission. Copies of these filings are available online at www.sec.gov, www.jnj.com or on request from Johnson & Johnson. Johnson & Johnson Innovation LLC, Johnson & Johnson International (Singapore) Pte. Ltd. and Johnson & Johnson do not undertake to update any forward-looking statement as a result of new information or future events or developments.
Johnson & Johnson Innovation
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SOURCE Johnson & Johnson Innovation LLC
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