J&J Innovation and NXT join to accelerate medical device Innovation
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Johnson & Johnson Innovation (JJI), announced it entered a definitive agreement to join NXT Biomedical Therapeutic Device Incubator (NXT) through a strategic investment facilitated by Johnson & Johnson Innovation – JJDC. Created in September 2018 by Deerfield Management Company, L.P. (Deerfield) and Stanton Rowe, CEO of NXT Biomedical, this next-generation medical device incubator is committed to developing transformational technologies to address significant unmet medical needs, helping patients to lead longer and healthier lives. It will develop, advance and de-risk cutting-edge technologies in a highly capital efficient manner.
As a key member of NXT Biomedical, Johnson & Johnson Innovation will have the right to migrate selected NXT projects that are strategically aligned to areas of interest to the Johnson & Johnson Medical Devices Companies for further development at the Center for Device Innovation at Texas Medical Center ("CDI @ TMC"). CDI @ TMC will accelerate the early-stage development of these projects using the depth and breadth of its state-of-the-art engineering facilities and its expert R&D team. Furthermore, access to GLP (Good Laboratory Practices) pre-clinical facilities, the MITIE™ Simulation Center and TMC Clinical Research Institute will drive device development through to commercialization.
"The CDI @ TMC model was created to enhance early-stage internal and external medical device innovation," said William N. Hait, M.D., Ph.D., Global Head, Johnson & Johnson Innovation LLC. "Our collaboration with NXT Biomedical has the potential to further strengthen the CDI @ TMC pipeline with validated science coming through the NXT incubator, and to ensure that jointly we deliver best-in-class medical device innovation to patients around the world."
"Through this strategic partnership with NXT Biomedical and Deerfield, we are creating a novel approach to the external funding of projects at CDI @ TMC," said Bruce R. Rosengard, M.D., F.R.C.S., Vice President, Medical Devices, Johnson & Johnson Innovation LLC. "This will enhance our medical device pipeline and is an example of the industry-leading collaborations Johnson & Johnson Innovation is forging to secure funding for early-stage innovation."
CDI @ TMC brings together the unique strengths, experiences and resources from across Johnson & Johnson and the Texas Medical Center to create a novel approach for medical device innovation. It spans the entire development pathway from needs-based ideation to rapid technology prototyping, pre-clinical and clinical testing all aimed at enhancing development timelines.
