SEOUL, Korea,
June 30, 2020 /PRNewswire/
-- Janssen Korea Ltd. and Johnson & Johnson Innovation LLC
today announced the launch of the Seoul Innovation QuickFire
Challenge for Healthcare in the New Normal in collaboration
with the Seoul Metropolitan Government (SMG) and the Korea Health
Industry Development Institute (KHIDI). The challenge invites
innovators from around the world to submit ideas aiming to address
and enable potential healthcare solutions for these challenging
times. Specific areas of interest include:
- Health technologies including big data, artificial
intelligence, and block chain
- E-health platforms that can improve the patient journey,
empowering decision making for physicians and leading to better
patient outcomes
- Rapid diagnostics for early detection and monitoring of rare
diseases – in particular for Pulmonary Hypertension (PH)
- Companion diagnostics for oncology
- Smart systems for vaccine distribution and patient
adherence
Up to two awardees will receive up to KRW150,000,000 (approximately US$125,000)2 in grant funding, one
year of residency at the Seoul Bio Hub, and access to mentorship,
programming, and resources from the Johnson & Johnson
Innovation - JLABS ecosystem.
"As the world continues to rapidly respond to the COVID-19
pandemic, forward-thinking innovations are critical to fill the
gaps in medical care, addressing the needs of patients now and
preparing for what may lie ahead,'" said Melinda Richter, Global Head, Johnson &
Johnson Innovation – JLABS3. "COVID-19 has changed our
everyday lives, and we recognize that this 'new normal' may likely
be long-lasting."
JLABS — a global network of open innovation ecosystems —
has developed the QuickFire Challenge platform with the aim to
empower and enable potential groundbreaking science and health
solutions by encouraging students, entrepreneurs, researchers and
start-up companies to tackle some of the world's most challenging
problems in healthcare.
"Almost overnight, the life sciences community around the world
has mobilized to respond to COVID-19. At the same time, the
pandemic is a pressure test on innovators' ability to bring their
ideas to life. In collaboration with local leaders, we are working
to support the entrepreneurial community to provide much needed
resources in this new normal in healthcare. We must innovate more
and innovate fast," said Jenny
Zheng, Area Managing Director, Janssen North Asia4.
The QuickFire Challenge aims to advance breakthrough innovations
by combining Johnson & Johnson Innovation's unique vision for
collaboration in an open innovation model with the Seoul
Metropolitan Government's efforts to drive innovation and
commercialize its research outcomes; KHIDI's professional and
systems-building support; and the Seoul Bio Hub's ability to
accelerate the development and commercialization of potential
early-stage, life-science solutions.
This announcement marks the fourth QuickFire Challenge in Korea,
following the launch of the previous Seoul Innovation QuickFire
Challenges in August 2017,
August 2018, and July 2019.
The deadline to apply is August 31,
2020. For more information about the Seoul Innovation
QuickFire Challenge: Healthcare in the New Normal
(including the terms and conditions of entry), please visit:
jlabs.buzz/seoul-innovation.
About Johnson & Johnson Innovation
Johnson & Johnson Innovation LLC focuses on accelerating all
stages of innovation worldwide and forming collaborations between
entrepreneurs and Johnson & Johnson's global healthcare
businesses. Johnson & Johnson Innovation provides scientists,
entrepreneurs and emerging companies with one-stop access to
science and technology experts who can facilitate collaborations
across the pharmaceutical, medical device and consumer companies of
Johnson & Johnson. Under the Johnson & Johnson Innovation
umbrella of businesses, we connect with innovators through our
regional Innovation Centers; Johnson & Johnson
Innovation – JLABS; Johnson & Johnson Innovation – JJDC,
Inc.; and our business development teams to create customized deals
and novel collaborations that speed development of innovations to
solve unmet needs in patients. JLABS provides the laboratories,
expertise, education, tools and resources needed to help life
science startups thrive, all with no strings attached. A Johnson
& Johnson Innovation Center for Device Innovation at the Texas
Medical Center (CDI @ TMC) has been established to accelerate the
development of medical devices. For more information about Johnson
& Johnson Innovation, please
visit: www.jnjinnovation.com.
About Johnson & Johnson Innovation – JLABS
Johnson & Johnson Innovation - JLABS (JLABS) is
a global network of open innovation ecosystems, enabling and
empowering innovators across a broad healthcare spectrum including
pharmaceutical, medical device, consumer and health tech sectors to
create and accelerate the delivery of life-saving, life-enhancing
health and wellness solutions to patients around the world. JLABS
achieves this by providing the optimal environment for emerging
companies to catalyze growth and optimize their research and
development by opening them to vital industry connections,
delivering entrepreneurial programs and providing a
capital-efficient, flexible platform where they can transform the
scientific discoveries of today into the breakthrough healthcare
solutions of tomorrow. At JLABS, we value great ideas and are
passionate about removing obstacles to success to help innovators
unleash the potential of their early scientific discoveries. JLABS
is a no-strings-attached model, which means entrepreneurs are free
to develop their science while holding on to their intellectual
property. JLABS also produces campaigns to seek out the best
science called QuickFire Challenges. For more information,
visit www.jlabs.jnjinnovation.com or follow
@JLABS.
About the Janssen Pharmaceutical Companies of Johnson &
Johnson
At Janssen, we're creating a future where disease is a thing of
the past. We're the Pharmaceutical Companies of Johnson &
Johnson, working tirelessly to make that future a reality for
patients everywhere by fighting sickness with science, improving
access with ingenuity, and healing hopelessness with heart. We
focus on areas of medicine where we can make the biggest
difference: Cardiovascular & Metabolism, Immunology, Infectious
Diseases & Vaccines, Neuroscience, Oncology, and Pulmonary
Hypertension. Learn more at www.janssen.com. Follow us at
www.twitter.com/JanssenGlobal. Janssen Korea Ltd. is one of the
Janssen Pharmaceutical Companies of Johnson &
Johnson.
Cautions Concerning Forward-Looking Statements
This press release contains "forward-looking statements" as
defined in the Private Securities Litigation Reform Act of 1995
related to a new collaboration and product development. 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 known or unknown risks
or uncertainties materialize, actual results could vary materially
from the expectations and projections of Janssen Korea Ltd., any of
the other Janssen Pharmaceutical Companies, Johnson & Johnson
Innovation LLC and/or Johnson & Johnson. Risks and
uncertainties include, but are not limited to: the potential that
the expected benefits and opportunities related to the
collaboration may not be realized or may take longer to realize
than expected; challenges inherent in new product development,
including the uncertainty of clinical success and obtaining
regulatory approvals; competition, including technological
advances, new products and patents attained by competitors;
uncertainty of commercial success for new products; the ability of
the company to successfully execute strategic plans; impact of
business combinations and divestitures; challenges to patents;
changes in behavior and spending patterns or financial distress of
purchasers of health care products and services; and global health
care reforms and trends toward health care cost containment. A
further list and descriptions of these risks, uncertainties and
other factors can be found in Johnson & Johnson's Annual Report
on Form 10-K for the fiscal year ended December 29, 2019, including in the sections
captioned "Cautionary Note Regarding Forward-Looking Statements"
and "Item 1A. Risk Factors," and in the company's most recently
filed Quarterly Report on Form 10-Q, and the company's subsequent
filings with the Securities and Exchange Commission. Copies of
these filings are available online at www.sec.gov, www.jnj.com or
on request from Johnson & Johnson. Janssen Korea Ltd., any of
the other Janssen Pharmaceutical Companies, Johnson & Johnson
Innovation LLC and Johnson & Johnson do not undertake to update
any forward-looking statement as a result of new information or
future events or developments.
1 1 South Korean won
equals 0.00083 United States Dollar
2 From the KRW150
million grant, each awardee will receive a KRW75 million grant including one-year mandatory
residency, which must be used toward the rent and utilities at the
Seoul Bio Hub for a year.
3 Melinda Richter is employed by Johnson &
Johnson Innovation LLC
4 Jenny Zheng is employed by Janssen Korea Ltd.
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SOURCE Johnson & Johnson Innovation