J&J launches JLABS @ NYC

The Johnson & Johnson Innovation LLC subsidiary of Johnson & Johnson (NYSE:JNJ) said it launched JLABS @ NYC, a JLABS incubator in New York City. The facility, slated to open in 2018, was launched in collaboration with New York State and the New York Genome Center.

J&J said the state of New York provided $17 million in funding for the planned 30,000 square foot facility, which will be based in SoHo. J&J is seeking up to 30 biotech, pharmaceutical, medical device and consumer health companies to populate JLABS @ NYC, with an emphasis on "cross-sector" technologies to "prevent, intercept or cure diseases."...