Fresh off its $7B acquisition, Celgene is planning to open a biopharma incubator on its corporate campus in New Jersey.
Fresh off its $7 billion acquisition of San Diego-based Impact Biomedicines and its JAK inhibitor program targeting myelofibrosis, Celgene is planning to open a biopharma incubator on its corporate campus in New Jersey.
Celgene Executive Chairman of the Board of Directors Robert Hugin said that the company believes medical innovation is the solution to addressing numerous unmet health needs. That need for innovation is behind the company’s decision to open the site, Hugin said in a statement. Opening and hosting the incubator on its Summit campus aligns with Celgene’s mission to pursue bold science and provide potentially transformational treatments that will ultimately benefit patients, healthcare and society,” Hugin said.
Celgene will open a 16,000-square foot facility for entrepreneurs who are interested in medical research and innovation, NJBIZ first reported Wednesday. In an interview with NJBIZ, Celgene said its goal for the new facility is to “bolster the entrepreneurial ecosystem in New Jersey.” Called the Thomas O. Daniel Research Incubator and Collaboration Center, the facility will include state-of-the-art lab space and provide access to Celgene leadership so entrepreneurs can discuss research and other innovative ideas. The facility, named after Celgene’s former president of research & early development, is set to open later this year, NJBIZ reported.
Celgene is currently accepting applications from innovative researchers, entrepreneurs and start-up companies to take up a spot in the incubator. Those wishing to apply can do so through www.celgeneincubator.com. Celgene said there have been no limitations set on the types of companies that can apply for space in the incubator.
Companies that apply for the incubator will be evaluated on three primary criteria: Compelling and credible science and/or technology; Area of significant medical or market need; and having a developed business plan and management team.
In announcing the new incubator, Celgene said the facility will create a “global epicenter for biotechnology” by seeding innovation in life sciences.
Daniel, for whom the site is named, said the company has “always recognized the need to harness disruptive sciences” that can be used to develop new medicines.
“I am honored that the distributed research and development model that I helped establish in my tenure at Celgene will continue to thrive through Celgene’s incubator and the work of tomorrow’s medical innovators,” Daniel said.
New Jersey is home to more than 3,000 life science companies. Additionally, the state has 13 teaching hospitals, five research universities and four medical schools that all provide a boost to the state’s life science base.
“As a hub of medical innovation, New Jersey is a prime location to establish research facilities that will provide state-of-the-art resources to entrepreneurs, innovators and start-up companies hoping to enhance their research and discover scientific breakthroughs,” Debbie Hart, founding president and Chief Executive Officer of BioNJ, said in a statement. “We look forward to working with the Thomas O. Daniel Research Incubator and Collaboration Center to grow our economy in New Jersey and deliver new therapies to improve patients’ lives.”
