Boston, MA 05/20/2014 (wallstreetpr) – According to the news on May 14, 2014, Johnson & Johnson (NYSE:JNJ) has planned to expand its system of life science incubators. The company has decided to include a new 30,000 square foot land in South San Francisco. The company also provided a detailed description of this space to be utilised by it. The land, planned to open by the end of this year at 329 Oyster Point Blvd. is very spacious. It has the ability to include enough offices and labs to fit up around 50 fledging companies and staffs from the Janssen Labs, which is the incubator arm of Johnson & Johnson.
Planned for new companies
The Incubators are the part of the plan of the New Jersey pharmaceutical giant to look out, potentially acquire and invest in the scientists who are developing promising and latest treatments. Johnson & Johnson (NYSE:JNJ) has specific interests in start-ups which are working on immunology, oncology, cardiovascular disorders, neuroscience, infectious diseases and metabolic disorders. The start-ups which are pretty much involved in all forms, such as consumer oriented platforms, medical devices, diagnostics, health tools and drugs are the ones the company is specifically interested in.
Janssen Labs already has its incubator setup in the California Institute for Quantitative Biosciences. The incubator is located at the UCSF’s Mission Bay campus as well as in Boston and San Diego. All three together host a total of 53 life science companies. The new space in South San Francisco will be for new companies. As said by one of the spokesperson of the company, the existing companies at different venues can also get a chance to fill in the new space.
By acquiring the new space for its Incubator for new companies, Johnson & Johnson is boosting its presence as the nation’s largest Biotech hub. Johnson & Johnson (NYSE:JNJ) is also aiming at improving its investment profile by decreasing the cost and time to market rapidly.
