Johnson and Johnson Innovation, the Victorian Government and Monash University today announced the creation of a new Johnson & Johnson Innovation Partnering Office at Monash (JJIPO@MONASH).
The office, to be situated at the University’s Clayton campus in Melbourne, will be the Victorian headquarters for Johnson & Johnson’s scientific, investment and commercialization arms to identify medtech projects that can be partnered towards commercialization.
JJIPO@MONASH was officially announced at the JP Morgan Healthcare conference in San Francisco on 4 January 2018 and will facilitate access by Victorian researchers and companies to the expertise across Johnson & Johnson’s scientist research, investor and commercial business arms.
Minister for Innovation and the Digital Economy Philip Dalidakis said the new office was a great example of how Victoria’s world leading research institutes and universities were partnering with major global players to drive growth in the medtech and pharma sector.
“Victoria is renowned for excellence and innovation in medical technologies and pharmaceuticals and the government is working hard to support this sector so it can grow and create more jobs. This new office is a great initiative that will see industry leaders collaborating with local researchers to turn today’s breakthrough into tomorrow’s commercial success”.
Minister for Innovation and the Digital Economy Philip Dalidakis
Australia ranks 5th in the world for life science innovation (*) and Victoria is home to over 40% of Australia’s ASX listed health science companies. According to Sarah Newton, Pro Vice-Chancellor of Monash University (Enterprise), positioning the JJIPO@MONASH makes sense “Victoria has the talent and infrastructure to develop and commercialize its world class medtech and pharma research,” she said.
Johnson and Johnson Innovation (JJI) is the external innovation and partnering division of Johnson & Johnson, with four innovation centres and five innovation satellites worldwide. JJI already has research collaborations with Monash University, the Walter & Eliza Hall Institute, the University of Melbourne, RMIT and St Vincent’s Institute, but the JJIPO@MONASH will act as a hub to “coordinate and upskill the Victorian life science community and to develop programs which will facilitate greater connectivity at both a state and global level,” Ms Newton said.
The Victorian Government has identified medical technologies and pharmaceuticals as one of eight priority sectors with strong potential for significant growth. The sector already employs 23,000 people in industry across the state, generating $12.7 billion in revenue.
*Scientific American Worldview, 2016