J&J to set up NYC incubator

Abstract

Johnson & Johnson is joining with the New York Genome Center to open a biotech incubator at the center’s site in New York City. Established in 2013, the nonprofit has 18 research institutions as its members. The state will contribute $17 million toward the JLABS@NYC facility, which will open in 2018. Able to house up to 30 start-ups, the 2,800-m2 incubator is the seventh JLABS set up by J&J in five years. Biotech, pharma, medical device, and consumer health firms can apply to become residents. A rent-free year at JLABS@NYC is the prize in a new J&J challenge seeking “cross-sector solutions to prevent, intercept, or cure diseases.” JLABS facilities have incubated more than 200 start-ups and are now home to more than 140, J&J says. The labs provide access to scientific, industry, and investment experts, along with third-party services. Although J&J’s incubator model is “no strings attached,” 33 collaborations have