Incubator run by the University of California.
From California Biomed Report:
Of our first six companies, four of them closed venture capital rounds and the fifth company, True Materials was acquired by Affymetrix for $25 million. QB3 has incubated 65 companies, which have raised $230 million and created 282 jobs.
More DD to share anyone?
"The San Francisco Bay Area is home to one of the most diverse and successful biotechnology communities in the world," said Gerald E. Commissiong, President & CEO of Amarantus.
"Moving our operations to Janssen Labs @QB3 will add tremendous value to the Company going forward. We will get direct access to key services and mentoring that will allow management to position the Company to significantly increase shareholder value as we move forward."
.....more like volkswagen to a porsche :)
Through a collaboration between Johnson & Johnson Innovation and the California Institute for Quantitative Biosciences (QB3), Janssen Labs is expanding into the San Francisco Bay Area. Johnson & Johnson Innovation will have an exclusive agreement to create a 5,000 square foot Janssen Labs @QB3 within QB3’s 24,000-square foot incubator space located at 953Indiana St., with an option to expand. This marks the first geographical expansion of Janssen Labs, the San Diego based life science incubator that is currently home to 29 companies. Janssen Labs @QB3 will have a similar open-innovation, no-strings-attached approach like the flagship Janssen Labs in San Diego. Janssen Labs @QB3 will identify innovators who are developing promising science to address important unmet medical needs for designation of space. Companies will have access to QB3’s resources, which include legal and business advisors, assistance in grant writing for federal Small Business Innovation Research funds, and access to high-end equipment and technology in University of California, San Francisco facilities.
From Janssen Labs website:
Janssen Labs is looking for high-potential companies from diverse healthcare sectors including biotech, pharmaceuticals, medical devices, instrumentation and diagnostics to be a part of Janssen Labs. Companies are selected based on the following criteria:
• Compelling and credible science and/or technology
• Area of significant medical or market need
• Demonstrate financial solvency