Advertisement

If you have an ACS member number, please enter it here so we can link this account to your membership. (optional)

ACS values your privacy. By submitting your information, you are gaining access to C&EN and subscribing to our weekly newsletter. We use the information you provide to make your reading experience better, and we will never sell your data to third party members.

ENJOY UNLIMITED ACCES TO C&EN

Business

J&J sets up NYC biotech incubator with partners

Pharma company establishes seventh JLABS location to house start-ups

by Ann M. Thayer
January 11, 2017 | A version of this story appeared in Volume 95, Issue 3

[+]Enlarge
Credit: New York Genome Center
Logo for New York Genome Center.
Credit: New York Genome Center

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 devices, 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 arisen between the company and JLABS residents.

JLABS@NYC is part of a push by New York State to build bioscience capabilities. New York ranks in the top 20% among U.S. states in bioscience employment and R&D spending, according to a 2016 report from TEConomy Partners and the trade group Biotechnology Innovation Organization. And bioscience venture funding has risen rapidly to total $458 million in 2015. But New York City lacks affordable lab space for new companies.

Just recently, Alexandria LaunchLabs began making seed funds and lab space available for start-ups at the Alexandria Center for Life Science on Manhattan’s East Side. And in late 2016, the city itself said it plans to build a $100 million applied life sciences campus nearby.

Article:

This article has been sent to the following recipient:

0 /1 FREE ARTICLES LEFT THIS MONTH Remaining
Chemistry matters. Join us to get the news you need.