April 20, 2024

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[THE INVESTOR] Johnson & Johnson is reviewing establishing a JLABS center in Korea, its seventh and the first outside North America, according to a company official on Sept. 19.

Established in 2012 under Johnson & Johnson Innovation, JLABS is an incubator for health care startups that provides infrastructure and resources.

JLABS head Melinda Richter on her visit to Seoul in August reportedly praised the creativity and technologies of South Korean bio venture companies, saying the nation has an ideal environment for the project. 

Although the Seoul office of the multinational health care company said that South Korea is only one of the candidate countries and not officially under review, bio industry sources are more positive.

There are six JLABS centers, five in the US and one in Canada, nurturing over 120 emerging companies so far. The resident companies are ensured no-strings-attached arrangement. JLABS’ have invested in about 20 percent of the companies. 

By Hwang You-mee (glamazon@heraldcorp.com)