Partnering with Technology Companies to Advance Medical Device Innovation

Transcription

1 Partnering with Technology Companies to Advance Medical Device Innovation Pierre R. Theodore, M.D. Vice President, Medical Devices Johnson and Johnson Innovation UCSF Health Sciences Clinical Associate Professor 1 1

2 Disclaimers Employee of Johnson and Johnson These are Personal Reflections 2 2

3 Take Home Messages Aligned and committed to external innovation Efficient process and governance Effective alliance management 3

4 Innovation at Johnson & Johnson is about creating strong networks of people who can combine resources, ideas and technologies in a new way. Paul Stoffels, MD Chief Scientific Officer 4 4

5 What is Johnson & Johnson Innovation? 5

6 Consumer Medical Devices Pharmaceuticals Johnson & Johnson Family of Companies 6

7 Johnson & Johnson Innovation Pathway Your Partner Along the Way Academia Startups IDEA CONCEPT PRECLINICAL POC CLINICAL POC PATIENT JLABS Advice and mentorship Incubation (JLABS) EIR & Innovator Programs NewCo Creation Sponsored research JBD JJDC R&D collaborations Licensing and M&A Venture funding 7

8 We Form Value Generating Collaborations Flexible Deal Structures Funding Company Incubation R&D Expertise Business Development 8

9 What is the right structure? L&A R&D collab. with soft option R&D collab. with hard option Strategic Equity investment Newco 9

10 10

11 Functions of Innovation Tap into top innovation Leverage balance sheet Extend capabilities Accelerate growth 11

12 12 Aligning on where to focus and how Overall strategic approach and portfolio innovation plan Clinical opportunity Business opportunity Quality/maturity of science, technology, talent Internal and external capabilities Leader and key stakeholder alignment Commit to action plan Maintaining communication & engagement

13 Areas of interest Medical Devices 13

14 Assessing Opportunities Internal Sources DePuy Synthes MD&D Pharma Consumer Innovation Centers JJDC External Sources Universities Investors R&D Houses Surgeons Incubators Accelerators Real: Major unmet need Worth: Large/growing market Win: Can JNJ succeed by adding value Strategic Fit Quality Management Team Transformational technology Quality science/data Strong IP Semi-defined Regulatory path Early Late Feeder investment E.I. and ICs BD Commercial product 14

15 15 Innovation Focus External Innovation Company stays external Quality System University Startup

16 JLabs San Francisco San Diego Boston Toronto Houston 16 16

17 Socialization & Escalation Scientific & Technical Platform Finance Business & R&D Author PowerPoint title goes here April XX,

18 Case 1 R&D collaboration with soft option Australia Based Company: Regeneration of damaged tendons and ligaments. Ownership IP Collaborative study Research agreement Q Multi-center trial conducted with leading orthopaedic surgeons Governance Data Know How Tech Dev 18

19 Case 2 Equity Investment: Oncology Strategy Biologically Targeted Radiotherapy Series B Round JJI Johnson & Johnson Development Corporation As part of VC syndicate Governance Ownership IP Tech Dev Board Observer Seat Milestone: 510K submission Data Know How 19

20 Strategy 3 New Company Creation: Center for Device Innovation Collaboration between JJI and Texas Medical Center (TMC) Governance Ownership IP Tech Dev Access to the preclinical facilities of Baylor College of Medicine Data Know How 20

21 Innovation Alliance Internal R&D acceleration External Partnership Preclinical Testing Access to Committed Med- Tech Capital Ownership Model Strings Attached Early Stage - Strategic Intent 21

22 Strategic Collaboration Throughout Strong collaboration throughout the entire process maximizes opportunity for both partners PRE-DEAL Cross Need-State partnership exploration Sustainable Business Model DEAL Numerous Investment Vehicles POST DEAL Day 2 Team Dedicated Cross-Functional J&J Team STRATEGIC AREAS OF FOCUS Proven Science / Tech Learning Plan: Must develop all 3 winning components with cross functional excellence to deliver long term success Strong Consumer Value Proposition ON-BOARDING Continuity of Diligence Team

23 Deal Making Customized Deals for the Innovator 23

24 Take Home Messages Aligned and committed to external innovation Efficient process and governance Effective alliance management 24

25 Thank you