Hands-off incubator

Johnson & Johnson has announced a life sciences incubator that, unlike earlier incubators started by biopharmas such as Biogen Idec Inc. and Pfizer Inc., provides no funding and receives no IP rights from occupants of the space. Instead, J&J hopes to spark informal connections that could lead to more deal opportunities down the road.

J&J is converting 30,000 square feet of unused space on its La Jolla research campus into Janssen Labs, which the pharma hopes will house up to 18-20 life science companies. The companies will pay rent, and J&J will otherwise be completely hands off. The center is expected to open in early 2012...