J&J forms new biotech and health IT centre

J&J is creating a new biotech and health IT ‘innovation centre’ as part of its pharmaceutical facility in San Diego.

The healthcare giant expects 18 to 20 life science start-up companies to join the new centre, to be called ‘Janssen Labs at San Diego’.

Diego Miralles, who oversees J&J’s San Diego centre, said: “It’s a completely ‘no-strings attached’ business model.”

He said that start-up companies in the new centre will pay a monthly ‘licensing fee’ to J&J, but the landlord agreement does not grant J&J an equity stake in the businesses.

He estimated the innovation centre will be made up of “modular and flexible” offices available for companies developing mostly biotech and health IT-related technologies. The companies would share a common area for the storage of high-end research equipment, as well as office supplies and other tools.

J&J plans to open the new centre by April 2012.