Johnson & Johnson Innovation Announces Opening of the California Innovation Center

 Johnson & Johnson Innovation Announces Opening of the California Innovation
                                    Center

First Collaboration and New Initiatives Originating from the California
Innovation Center Announced as Johnson & Johnson Expands Presence on the West
Coast

PR Newswire

MENLO PARK, Calif., June 5, 2013

MENLO PARK, Calif., June 5, 2013 /PRNewswire/ -- Johnson & Johnson Innovation
today announced the opening of the Johnson & Johnson California Innovation
Center, one of four regional hubs being established in the world's leading
life science innovation hotspots. A part of Johnson & Johnson Innovation, the
goal of the California Innovation Center is to advance healthcare by
catalyzing collaborations in science and technology between regional
innovators and the Johnson & Johnson Family of Companies across a diverse
spectrum of early stage innovation.

(Logo: http://photos.prnewswire.com/prnh/20130605/LA26534LOGO)

The California Innovation Center is home to a team of business, science and
transaction experts who are focused on identifying and building novel early
stage collaborations with emerging companies, entrepreneurs and academic
centers across western North America. This team has full and broad
deal-making capabilities, with flexibility to adapt deal structures to match
early-stage needs and opportunities.

"The California Innovation Center is part of Johnson & Johnson's global
innovation strategy to advance human health by collaborating with the world's
leading scientists and entrepreneurs," said Paul Stoffels, M.D., Johnson &
Johnson Chief Scientific Officer and Worldwide Chairman, Pharmaceuticals. "We
look forward to deepening connections within the west coast life science
ecosystem and nurturing healthcare innovation as well as economic prosperity
in the region."

In conjunction with today's grand opening of the California Innovation Center,
Johnson & Johnson Innovation announced its first collaboration and new
initiatives in the region:

  Signed Collaboration Deal with Second Genome – Second Genome has entered
  into an agreement with Janssen Biotech, Inc. as part of a research
  collaboration with Johnson & Johnson Innovation and its California
  Innovation Center and the Immunology Therapeutic Area within Janssen
  Research & Development, LLC, to explore microbiome mechanisms and their
  potential role in ulcerative colitis, with the goal of advancing disease
  understanding and novel drug targets. The Janssen Pharmaceutical Companies
  are committed to playing a leadership role in fostering scientific
  investigation in the role of the microbiome in human health and harnessing
  its potential to deliver innovative treatments.

  Launched Johnson & Johnson Innovator Program– This new initiative is
  designed to foster idea generation and company formation around breakthrough
  innovations with the potential to transform patient healthcare in areas of
  interest to Johnson & Johnson.The program provides funding, resources and
  guidance to experienced entrepreneurs who have revolutionary science at the
  seed stage of development.David H. Kirn, M.D.is the first entrepreneur
  funded through the Johnson & Johnson Innovator Program. Dr. Kirn is a
  clinician-scientist and medical oncologist who trained at UCSF and Harvard.
  He is the founder ofJennerex, a private clinical-stage biotherapeutics
  company focused on the development and commercialization of targeted
  oncolytic immunotherapies for solid tumors.

  Expanded Janssen Labs to Bay Area – Through a collaboration between Johnson
  & Johnson Innovation and the California Institute for Quantitative
  Biosciences (QB3), Janssen Labs is expanding into the San Francisco Bay
  Area. Johnson & Johnson Innovation will have an exclusive agreement to
  create a 5,000 square foot Janssen Labs @QB3 within QB3's 24,000-square foot
  incubator space located at 953 Indiana St., with an option to expand. This
  marks the first geographical expansion of Janssen Labs, the San Diego-based
  life science incubator that is currently home to 29 companies. Janssen Labs
  @QB3 will have a similar open-innovation, no-strings-attached approach like
  the flagship Janssen Labs in San Diego. Janssen Labs @QB3 will identify
  innovators who are developing promising science to address important unmet
  medical needs for designation of space. Companies will have access to QB3's
  resources, which include legal and business advisors, assistance in grant
  writing for federal Small Business Innovation Research funds, and access to
  high-end equipment and technology in University of California, San Francisco
  facilities.

"Johnson & Johnson has a proud and productive history in California through
our various operating companies throughout the state," said Diego Miralles,
M.D., Head, Johnson & Johnson California Innovation Center. "Today, we are
pleased to deepen our commitment to supporting the state's strong life science
ecosystem by opening the California Innovation Center to serve as a single
point of entry for innovators to efficiently and creatively explore
relationships and investment opportunities across the Johnson & Johnson Family
of Companies."

Representatives of Johnson & Johnson Development Corporation, the venture
capital subsidiary of Johnson & Johnson, are co-located at the California
Innovation Center to identify and invest in external opportunities. Since its
inception in 1973, JJDC has been among the top-tier healthcare venture capital
companies investing in and developing new businesses that create leading
technologies, products and services.

The California Innovation Center joins more than a dozen facilities of the
Johnson & Johnson Family of Companies in the state, including Acclarent,
Advanced Sterilization Products, BabyCenter, Biosense Webster, Codman
Neurovascular, Cordis, Mentor, Neutrogena, Janssen Alzheimer Immunotherapy
R&D, Janssen Labs, Janssen Research & Development and LifeScan. Approximately
20,000 jobs are supported by Johnson & Johnson in California, either directly
or indirectly.

In addition to the new Johnson & Johnson Innovation Center in California, a
center in London opened in March, a center will open this summer in Boston,
and one is planned for Shanghai by the end of the year. Each city was selected
for its robust life sciences community, which provides a rich environment for
identifying investment, in-licensing and collaboration opportunities.

Johnson & Johnson California Innovation Center is located at 99 El Camino
Real, Menlo Park, California, 94025. For more information on the new
innovation centers please contact jnjinnovation@its.jnj.com.

About Johnson & Johnson
Caring for the world, one person at a time...inspires and unites the people of
Johnson & Johnson. We embrace research and science – bringing innovative
ideas, products and services to advance the health and well-being of people.
Our approximately 128,000 employees at more than 275 Johnson & Johnson
operating companies work with partners in health care to touch the lives of
over a billion people every day throughout the world.

For more information, visit www.jnj.com.

About Johnson & Johnson Innovation
The California Innovation Center is part of Johnson & Johnson Innovation, a
division of Johnson & Johnson Finance Corporation. Johnson & Johnson
Innovation focuses on accelerating early innovation and enhancing
opportunities for collaboration and investment across Johnson & Johnson's
global healthcare businesses. Johnson & Johnson Innovation provides
scientists, entrepreneurs and emerging companies focused on early-stage
opportunities a one-stop access to science and technology experts who can
facilitate collaborations across the pharmaceutical, medical device and
diagnostics and consumer companies of Johnson & Johnson. Johnson & Johnson
Innovation includes local deal-making capabilities with the flexibility to
adapt deal structures to match early-stage opportunities and establish novel
collaborations that speed development of those innovations to solve unmet
needs in patients. More information can be found here: www.jnjinnovation.com.

Forward-looking Statements

This press release contains "forward-looking statements" as defined in the
Private Securities Litigation Reform Act of 1995. 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 unknown risks or uncertainties materialize, actual results could
vary materially from the expectations and projections of Johnson & Johnson
Finance Corporation, any of the Janssen Pharmaceutical Companies and/or
Johnson & Johnson. Risks and uncertainties include, but are not limited to,
general industry conditions and competition; economic factors, such as
interest rate and currency exchange rate fluctuations; technological advances,
new products and patents attained by competitors; challenges inherent in new
product development, including obtaining regulatory approvals; challenges to
patents; impact of business combinations; changes in behavior and spending
patterns or financial distress of purchasers of health care products and
services; changes to governmental laws and regulations and domestic and
foreign health care reforms; trends toward health care cost containment; and
increased scrutiny of the health care industry by government agencies. A
further list and description of these risks, uncertainties and other factors
can be found in Exhibit 99 of Johnson & Johnson's Annual Report on Form 10-K
for the fiscal year ended December 30, 2012. Copies of this Form 10-K, as well
as subsequent filings, are available online at www.sec.gov, www.jnj.com or on
request from Johnson & Johnson. Johnson & Johnson Finance Corporation, the
Janssen Pharmaceutical Companies and Johnson & Johnson do not undertake to
update any forward-looking statements as a result of new information or future
events or developments.

SOURCE Johnson & Johnson Innovation

Website: http://www.jnj.com
Contact: Meghan Marschall, 201-323-0578, mmarscha@its.jnj.com, or Seema Kumar,
908-405-1144, skumar10@its.jnj.com
 
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