Date Posted – 15 July 2021
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
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:
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 realise 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.
Johnson & Johnson Innovation LLC works across the pharmaceutical, medical device and consumer health sectors to accelerate early-stage, transformational solutions by catalysing 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 customised 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.