Johnson & Johnson Innovation announces extension of innovation partnering office at Monash University in collaboration with Victorian State Government to accelerate the life-sciences hub
- Victorian State Government extends financing of JJIPO@Monash for an additional two years
- Extension will further boost Victorian hub for researchers and early-stage companies to connect with industry experts and deliver novel healthcare solutions
MELBOURNE, Australia, July 15, 2021 /PRNewswire/ -- Johnson & Johnson Innovation announced today the extension of the Johnson & Johnson Innovation Partnering Office at Monash University's Clayton Campus in Melbourne (JJIPO@Monash) in collaboration with the Victorian State Government.
This joint initiative between Johnson & Johnson Innovation, the Victorian Government and Monash University will be extended for approximately two years through June 30, 2023. The agreement will allow JJIPO@Monash to continue connecting with the Victorian innovation ecosystem, nurturing and accelerating innovative research, new product development and commercialisation for a global market, as well as boost local job creation in Victoria.
"Our collaboration with Monash University represents Johnson & Johnson Innovation's ongoing commitment to foster diverse healthcare ecosystems across Australia. This extension will further help connect life-science innovators in Victoria to accelerate their healthcare solutions across the globe," said Stacy Feld, Regional Head, Johnson & Johnson Innovation LLC, West North America, Australia & New Zealand.
Since 2012, Johnson & Johnson Innovation has played an active role in establishing connections with key stakeholders in the Australia life-science ecosystem, including academia, government and venture capitalists, to enable public-private collaboration and support early-stage entrepreneurs and academic researchers. JJIPO@Monash was originally launched in 2018 to provide crucial support to researchers and companies in the Victorian life-science sector as part of the Government's commitment to the medical technologies and pharmaceuticals sector – one of eight priority growth sectors. The public-private partnership between Johnson & Johnson Innovation, Monash University and the Victorian Government is one of only three such offices located across the world.
"Victoria has one of the world's largest life science clusters composed of medical technologies (medtech), biotechnologies and pharmaceutical industries. It's home to a vibrant commercial sector, key R&D infrastructure and advanced manufacturing expertise making it a highly sought-after destination by global healthcare companies," said Jaala Pulford, Minister for Innovation, Parliament of Victoria. "This is why we are delighted to extend our joint agreement with Johnson & Johnson Innovation to maintain the partnering office at Monash."
"This contract extension demonstrates the valuable work that is taking place at JJIPO@Monash," said Kathy Connell, Senior Director, Early Innovation Partnering, Australia & New Zealand, Janssen-Cilag Pty Ltd. "Several high impact Victorian healthcare collaborations have been signed since our launch, including those novel medical technologies and treatments for neurodegenerative and autoimmune conditions, and solutions for significant unmet needs in global public health including maternal mortality and infectious diseases."
Since its inception in 2018, JJIPO@Monash has provided a platform for major life-science collaboration in Victoria to strengthen the healthcare ecosystem and enable future impact, including:
- St. Vincent's Institute of Medical Research (SVI)'s multi-year research collaboration with Janssen Pharmaceuticals, Inc. to develop and potentially commercialise small molecule modulators of microglial function and inflammation for Alzheimer's disease treatment
- Monash University to support the development of an inhaled form of oxytocin as a life-saving therapy to prevent and manage postpartum haemorrhage (PPH) and Walter and Eliza Hall Institute of Medial Research (WEHI)'s collaborative research team to further develop potential antimalarial drugs from chemical compounds in the Janssen Jump-stARter Molecular Library (a collection of 80,000+ drug-like compounds designed to fast track the discovery of new medicines) – both collaborations with Janssen Pharmaceutical NV, one of the Janssen Pharmaceutical Companies of Johnson & Johnson
- Monash University's multi-year research collaboration with Janssen Biotech, Inc., one of the Janssen Pharmaceutical Companies of Johnson & Johnson, to advance the understanding of the immune mechanisms underpinning Coeliac Disease and inform the development of new methods of diagnosis and treatment
- QuickFire Challenge competition, jointly sponsored by Johnson & Johnson Innovation LLC and the Victorian State Government, provided an opportunity to showcase and promote Victoria's medical device innovation ecosystem resulting in three awardees who have secured a total combined aggregate of over $15.6M in follow on investment since 2018
- MedTech Actuator's partnership with Johnson & Johnson Innovation LLC to bring mentorship opportunities and generate local investment for health technology startups in Victoria and development and delivery of the Johnson & Johnson-Monash Postgraduate Diversity and Inclusion internship programs for 2019 and 2020
- 15 international executive visits from the Johnson & Johnson Family of Companies and nearly 40 global leaders have provided mentorship to Victorian entrepreneurs, investors, academics, government and engaged with more than 1,700 active stakeholders across JJIPO@Monash's global network; hosted approximately 30 educational training and networking events and numerous international tours to connect Victorian innovators to the global Johnson & Johnson Innovation network, including Johnson & Johnson Innovation Centers, JLABS (in Shanghai and Washington, DC), Janssen Research & Development, LLC (US), Janssen Pharmaceutical NV (Belgium), Johnson & Johnson Global Public Health, Johnson & Johnson Medical Pty Ltd. (including the orthopaedic business Depuy Synthes) and Johnson & Johnson Vision Care, Inc. (US)
- During the pandemic in 2020 alone, JJIPO@Monash hosted eight key virtual events with internationally based Johnson & Johnson Family of Companies leaders engaging over 650 stakeholders covering key strategic areas including Women in STEM2D, Neuroscience, Oncology, Infectious Diseases, World Without Disease Accelerator, Drug Delivery, Digital Solutions, Janssen Jump-stARter Molecular Library, Surgical Vision Care and the Johnson & Johnson-BARDA Blue Knight alliance program
Monash University Deputy Vice-Chancellor & Senior Vice-President (Enterprise & Governance), Professor Ken Sloan, said the contract extension will further raise Victoria's reputation as a global innovation hot spot.
"This partnership is helping to bridge the gap between academic research and industry application by driving cross-industry conversations, leading to project innovations and investment. I am excited to see what we will achieve in this new phase," said Professor Sloan.
JJIPO@Monash provides mentoring, training and networking with emerging healthcare companies and academic researchers at no financial cost to life science stakeholders across Victoria to help nurture the next generation of innovators. Commercialisation training, mentoring and networking support is provided to accelerate translational life science research along the path to commercialisation and to connect Victorian innovators with stakeholders from Johnson & Johnson Innovation's vast global networks. These activities are part of Johnson & Johnson Innovation's ongoing commitment to strengthen Victoria's healthcare innovation ecosystem and to accelerating the opportunity for locally developed technologies to receive investment dollars, to reach patients faster, and to realize a fair return on investment.
The Victorian Government's renewed financial support will continue to strengthen the partnership. The program of activities offered through JJIPO@Monash will ensure Johnson & Johnson Innovation has an ongoing and active presence in Victoria and will continue to build a commercially viable bio-medtech innovation network, create sector employment and ultimately deliver Victorian-originated healthcare solutions to people in Australia and around the world.
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About Johnson & Johnson Innovation
Johnson & Johnson Innovation LLC works across the pharmaceutical, medical device and consumer health sectors to accelerate early-stage, transformational solutions by catalyzing the best ideas, wherever they are in the world. We do this by harnessing our deep scientific capabilities coupled with a wide range of tools, including customized deal structures, company creation, incubation and startup services, capital investments and other innovative business models that aim to meet the diverse needs of entrepreneurs, scientists and emerging companies. Our goal is to help life science and health technology innovations thrive through collaboration and partnership with the global ecosystem, so that together we can change the trajectory of human health. Meet our passionate team of science and technology experts and learn how to collaborate with us at www.jnjinnovation.com.
About the Johnson & Johnson Family of Companies in Australia and New Zealand
The Johnson & Johnson Family of Companies in Australia's product portfolio spans medical devices, consumer and pharmaceuticals. Johnson & Johnson Medical Devices (Johnson & Johnson Medical Pty Ltd) is the largest medical device provider in Australia. Our innovative products and solutions are used primarily by healthcare professionals in the fields of general and plastic surgery, orthopaedics, neurology, bariatric surgery, infection prevention, urology, gynaecology, sports medicine and cardiovascular disease. Johnson & Johnson Consumer Health (Johnson & Johnson Pacific Pty Ltd) is the largest over the counter supplier to retail pharmacies in Australia, serving over 4,500 community pharmacies and is one of the top five health and beauty suppliers to Australian groceries. Our products are found in 7 out of every 10 Australian households. Janssen Australia and New Zealand (Janssen-Cilag Pty Ltd) is a leading research-based pharmaceutical company. Our focus is on addressing and solving the most important unmet medical needs of our time to improve the lives of patients in immunology, oncology, pulmonary hypertension, neuroscience, and infectious diseases. In Australia, Johnson & Johnson Innovation is represented by Janssen Australia and New Zealand (Janssen-Cilag Pty Ltd). For more information, visit: https://www.jnj.com.au.
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 new collaboration and product development. 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 Pacific Pty Ltd, Janssen-Cilag Pty 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 3, 2021, including in the sections captioned "Cautionary Note Regarding Forward-Looking Statements" and "Item 1A. Risk Factors," and in the company's most recently filed Quarterly Report on Form 10-Q, and the company's subsequent 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 Pacific Pty Ltd, Janssen-Cilag Pty Ltd and Johnson & Johnson do not undertake to update any forward-looking statement as a result of new information or future events or developments.
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