The J&J Innovation Centres
At J&J we believe good health is the foundation of vibrant lives, thriving communities and forward progress. That’s why for more than 130 years, we have aimed to keep people well at every age and every stage of life. Today, as the world’s largest and most broadly-based healthcare company, we are committed to using our reach and size for good. The aim of the Innovation Centres (ICs) is to successfully compete for the top science and transformational innovation externally, including at universities, biotech and medtech companies and elsewhere, allowing J&J to build the best healthcare pipeline, advancing transformative products and services for patients and consumers.
The individual we are searching for will support endeavours in two key areas of innovation: Lung Cancer Initiative and Discovery Sciences. The Lung Cancer Initiative (LCI) is focused on catalysing a paradigm shift from disease care to health care through novel approaches to prevention, early detection, interception and cure. Driven by a vision to create a world without disease and stop, reverse or inhibit an individual’s progression to disease. Discovery Sciences supports early-stage pharmaceutical research (up to pre-clinical), and innovative technologies, platforms and programs.
Broad Function of Role
An externally-focused, highly entrepreneurial deal-making and leadership role aimed at identifying and on-boarding potentially transformational innovation into Johnson & Johnson.
Even in the absence of direct reports, this role is primarily a leadership role, the successful candidate expected to shape the direction of innovation and deal-making for their respective Johnson & Johnson businesses.
New Venture Transactions Lead
This role reports to the VP for New Ventures and Transactions and is an integral part of the New Venture Transactions team in the London Innovation Center (LIC), serving the EMEA region. The team is responsible for the identification and evaluation of innovations of potentially high interest to J&J’s operating companies based on J&J’s defined strategies, in strategic adjacencies and in new areas. For opportunities that continue to be of high interest after due diligence, the New Venture Transactions team is responsible for working with teammates in the scientific, finance, legal (and in some cases venture capital) groups to identify the optimal partnership deal structure and then progress the deal through to deal closure. In some cases, the New Venture Transactions team also contribute to the management and optimization of partnerships after the deal closure.
- Identifying highly innovative product/platform opportunities and then devising and proposing collaboration models, transaction structures and terms that are commercially and scientifically appropriate.
- Building business cases that are rigorous and based on sound commercial, scientific, regulatory and clinical rationale, with key assumptions and risks clearly articulated.
- Leadership and management of cross-functional due diligence teams.
- Negotiation and closing of transactions.
- Building close relationships with relevant J&J businesses. This is to both understand/contribute to strategy/requirements and to develop sufficient influence in order to be able to champion new opportunities, including those that are potentially “off strategy” but where a compelling business case can be made.
- Taking accountability for ensuring that opportunities progress through appropriate review processes, that key risks are identified, communicated appropriately and debated sufficiently, and mitigation strategies are accounted for in deal structures, development plans and cost projections. Preparation of internal review and briefing documents including substantial quantitative and qualitative analysis of opportunities.
- Developing deep understanding of innovation and scientific landscape in relevant WWD / Discovery sciences areas of interest and developing methods to systematically identify innovative opportunities and to maximise chances of serendipitous discovery of opportunities.
- Building and maintaining close relationships with appropriate external sources of innovation including entrepreneurs, academics, key opinion leaders, biotech companies, venture capitalists, non profit organisations etc.
- External presentation of J&J to prospective partners and regular attendance at industry events such as conferences.
- Contributing to environmental scanning and competitive intelligence activities and to maintenance of professional knowledge management/CRM practices and routine operational reporting.
- Ensuring that all interactions and engagements are carried out with the highest ethical and professional standards and that all work is accomplished with quality and in accordance with J&J Credo.
- Carry out other reasonable tasks as required.
The above duties and responsibilities are not an exhaustive list and you may be required to undertake any other reasonable duties compatible with your experience and competencies. This description may be varied from time to time to reflect changing business requirements.
- Accountable to the Head of New Ventures & Transactions.
- Internal – key stakeholders within respective J&J businesses, wider J&J functional representatives (for example during due diligence) and wider J&J Innovation team members.
- External – Engagement with all audiences from company senior executives and scientists through to academics, venture capitalists and entrepreneurs.
Education, Experience and Achievements
- Diverse career background and experiences desirable.
- Significant and multifaceted previous “real world” career experience in science-based healthcare businesses including biotechnology, pharma or venture capital firms is required
- It is required that you are able to demonstrate an extensive personal network including senior decision-makers and leaders in fields relevant to role.
- Advanced life sciences PhD from world-leading institution or MDs with strong scientific and business mind-set and credentials are required. MBA from top tier business school is preferrede but not essential.
- Evidence of genuine scientific curiosity and successful scientific enquiry. Exceptional candidates without formal science qualifications but with relevant and successful career experience in science-driven businesses may be suitable.
- Business development or start-up experience in pharmaceuticals, biotechnology or medical devices desirable is preferred.
- Experience in an investment bank, life sciences venture capital or a top tier strategy management consultancy may also be relevant.
- Regardless of career background it is required that you be able to demonstrate previous deal-sourcing and transaction success (deals sourced/identified that were subsequently successfully executed) including evidence of substantial involvement in driving/championing/leading the opportunity evaluation and negotiation through to a successful outcome in a cross-functional environment and the ability to help build understanding and consensus in support of a transaction at all levels in an organisation.
- A high degree of dynamism, ambition and risk tolerance is required and the ability to demonstrate evidence of being a highly proactive self-starter, for example, through prior entrepreneurial business activities.
- Well-rounded person with strength of character and leadership potential, as evidenced by significant achievement both inside and outside the business workplace .
- A strong inclination to working in multi-disciplinary teams and leading others without formal authority.
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