JLABS @ NYC Celebrates Its 5th Year in the Big Apple
30 Oct 2023
Clinical StudyDrug ApprovalOligonucleotide
In June 2023, Johnson & Johnson Innovation – JLABS @ NYC honored its fifth anniversary with an industry panel titled "Science in the City." Senior leadership from Columbia University, Johnson & Johnson, Mount Sinai Hospital, Cravath, Swain, & Moore, and Envisagenics discussed and celebrated the New York City (NYC) life science innovation ecosystem and its growth over the last half-decade.
New York’s commitment to the life sciences ecosystem to this point has been formidable, with investments exceeding $1.5 billion committed since 2017 and backed by over 20 medical research and academic institutions. Venture capital funding has also infused NYC science initiatives, reaching $6.2 billion in 2021, a 52.6% increase year-over-year. Now that NYC is poised as a center for life sciences, the panelists emphasized the need for collaboration and continued investment to support the startup ecosystem.
To help facilitate this collaboration, JLABS @ NYC announced the launch of its annual Science in the City Quickfire Challenge at the roundtable. The challenge invites innovators from around the world to submit groundbreaking ideas, technologies, or solutions across the spectrum of healthcare innovation focused on transforming health outcomes for patients. Applicants can secure a one-year residency at JLABS @ NYC, which includes access to the global Johnson & Johnson Innovation - JLABS network, one bench, one workstation, and mentorship from experts across Johnson & Johnson.
JLABS is the largest global network of open innovation ecosystems. JLABS enables and empowers emerging companies with the knowledge, experience, partnerships, and venture connections across a broad healthcare spectrum, including pharmaceutical and medical technology sectors. JLABS @ NYC plays a key role in fostering the development of future industry leaders, empowering them to drive transformative advancements in the life sciences sector.
Since the launch of JLABS @ NYC in 2018, it has incubated 80 companies with 40 current resident companies and 40 alum companies. Notably amongst the current resident companies, Renalytix plc received the De Novo marketing authorization for its KidneyIntelX.dkd™ prognostic test from the U.S. Food and Drug Administration (FDA) in June 2023. Another current resident company, Yarrow, an RTW-incubated company, is developing antisense oligonucleotide (ASO) therapeutics for severe, genetically defined CNS diseases. Previously, BIORCHESTRA, specializing in Biomarker-driven RNA therapeutics for neurodegenerative and rare genetic diseases, clinched the New York City Neuroscience Quickfire Challenge by JLABS @ NYC in 2021 and continues to make strides in the field. For the JLABS @ NYC alum companies, one success story is Envisagenics, whose landmark research partnership with the Johnson & Johnson Lung Cancer Initiative furthers predictive models for lung cancer progression and risk. Holmusk, another notable alumni company, leveraged the hub's resources to develop a mental health monitoring platform incorporating real-world data to inform future therapeutic interventions. Another alum company, LinusBiohas also made waves with its groundbreaking diagnostic tool for autism spectrum disorder.
JLABS @ NYC’s portfolio of alumni and current partners has successfully raised a staggering $3 billion through venture and strategic partnerships. A recent infusion from the New York State Biodefense Commercialization Fund has also empowered JLABS companies like Glyphic Biosciences, Lab11 Therapeutics, and AACT.
Since its inception, JLABS @ NYC has expanded its offerings to life science startups to include an investment fund for JLABS companies and access to an investor network through regularly held events. The onsite resources available to startups are equipped with state-of-the-art infrastructure, including BS1 and BSL2 cell culture labs, high-performance liquid chromatography, flow cytometry, 3D printing, and more. The capital-efficient model aims to liberate entrepreneurs from the burden of time and financial investment usually associated with acquiring laboratory space.
Looking ahead, JLABS @ NYC has laid out ambitious site goals for the upcoming year and the next five years, with the new site head Tingting Zhang-Kharas, who has over 10 years of biopharma partnering experience, prioritizing unwavering support for emerging next-generation technologies and solutions from distinguished academic and clinical institutions.
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