Johnson & Johnson (NYSE:JNJ) said today it has added 24 companies, including those in the medical device and drug delivery fields, to its JLABS incubator facility in Toronto, Canada.
The facilities in Toronto now host over 40 companies, according to Johnson & Johnson, all of which are provided with lab space and offices, modular lab suites and access to scientific, industry and capital funding experts.
“Our goal is to support early stage innovators with the resources and network needed to grow, and as evident by the 40 companies that reside within JLABS @ Toronto, we are already accomplishing what we set out to do in just one year of operation. The no-strings attached model has been very important to our success in attracting so many quality companies, as it allows entrepreneurs the freedom to operate and do what is best for their company. We are hopeful that providing JLABS to the life sciences ecosystem in Toronto will support continued economic growth and development in the region,” JLABS head Melinda Richter said in a press release.
The new additions included a number of medical device and drug delivery companies, including:
- Analytics 4 Life, a company developing machine-learned imaging solutions on its Agilytics artificial intelligence platform to non-invasively detect disease using intrinsic physiological signals.
- Clerio Vision, a company developing a vision correction technology platform with applications in refractive surgery, cataract surgery and contact lenses.
- Densitas, an advanced imaging analytics platform developer looking to improve mammography quality.
ExCellThera, a novel stem cell therapy developer looking at therapies for blood-related diseases and cancers.
- MIMOSA Diagnostics, a mobile health application and device developer aimed at aiding diabetes patients monitor foot health.
- NerveVision, an FDA 510(k)-cleared nerve visualization and analysis software platform developer specializing in creating 3D, volume-rendered, reconstruction and segmentation of nerves from a standard MRI exam.
- Pendant Biosciences, a materials company developing novel surface coatings and drug delivery technologies for the orthopedic market.
- Tracery, a clinical-stage ocular imaging and health tech company developing diagnostic tools and individualized therapeutic strategies for retinal diseases.
- Winterlight Labs, a company developing technology to detect and monitor cognitive and mental illness through short snippets of speech using AI.
“Through their world-class incubator, Johnson & Johnson Innovation is providing much needed infrastructure and access to funding sources for early-stage innovators to help drive their ideas forward. Ontario welcomes JLABS @ Toronto’s innovative and flexible platform, providing a total of 40 companies with access to incredible business resources while allowing researchers to keep the freedom and flexibility they need to be successful,” Economic Development & Growth Minister Brad Duguid said in a prepared release.
“Since opening its doors a year ago, JLABS @ Toronto has successfully attracted a multitude of promising companies from our province’s life sciences community, led by academic hospitals, world-class research institutes, top scientists and a strong health start-up network. They have helped our province continue to build up Ontario’s vibrant innovation ecosystem, create good jobs, and strengthen our position in the global knowledge economy while also providing access to incredible resources for our life science entrepreneurs,” Research, Innovation & Science Minister Reza Moridi said in prepared remarks.