The Johnson & Johnson Innovation- JJDC, Inc., the venture arm of Johnson & Johnson (J&J) and a part of Johnson & Johnson’s Family of Companies, is currently recruiting for a Principal, Venture Investments, to be located in Cambridge MA. J&J is the world’s most comprehensive and broadly based manufacturer of health care products and is a provider of related services, for the pharmaceutical, consumer health, medical devices and diagnostics markets. The more than 265 operating companies employ over 125,000 people worldwide.
Johnson & Johnson Innovation (JJI) has opened four Innovation Centers (ICs) in Asia-Pacific, Boston, California, and London. JJDC, the venture arm with investors in these locations, brings a global presence of twelve investors with ten to thirty years of domain experience in financial, operational and strategic support. The ICs constitute a platform from which J&J identifies, catalyzes, contributes to and accesses the most promising healthcare innovations at the leading healthcare companies and universities across the globe. The mission of JJDC is to source equity investments and utilize relationships within the private venture community to support innovation, accelerate entrepreneurship and to build a pipeline of innovative products that will benefit patients and create options in areas of strategic interest to J&J.
Both Innovation Centers (Asia-Pacific, Boston, California and London) and JJDC are part of Johnson & Johnson Innovation that report to Paul Stoffels in his role as the CSO of Johnson & Johnson. JJDC investors are located in the ICs, and work with IC resources for diligence and follow-up on venture investments. ICs mandate is companies, products and technologies before “proof of concept” in humans, and JJDC has a broader mandate to invest in strategic investments at any stage.
Operating within major hubs of innovation allows J&J the opportunity to access technologies earlier and to help translate them into products for patients by contributing financial, intellectual and human capital. J&J’s IC platform is unique in combining regional partnership capabilities, investment capabilities and access to accelerator facilities in order to creatively meet the needs of healthcare innovator communities.
JJDC investments balance strategic returns with financial risk and return considerations. Investment vehicles JJDC has employed include seed investments, equity investments in private companies, structured deals with an equity investment and PIPEs. In 2018, JJDC made over 40 new and follow-on investments and deployed over $375 million in capital.
KEY RESPONSIBILITIES
Given the growth in the investment portfolio within life sciences, JJDC is seeking a talented Principal, Venture Investments who will initiate and manage equity investments, drive business innovation and deliver new and sustainable businesses for J&J. The successful candidate will work closely with team members of the internal JJDC investment team and be responsible for sourcing, analyzing, evaluating, internally selling, making, managing and exiting investments in target companies, with principal focus on biopharma investing. These target companies may include new technologies, product platforms or new businesses for J&J and will require that this person build and maintain collaborative business relationships within JJDC, J&J Innovation and the J&J operating companies, as well as, external collaborations with entrepreneurs, venture capital firms, banks and academia partners.
This Principal will be a leader within the JJDC investment team and will achieve business objectives through collaboration, coordination and teamwork. This investment professional will demonstrate their leadership skills by participating in and presenting to JJDC’s investment committee and helping to drive the entire investment process on key transactions. In addition, this person will serve as a member (or observer) on Board of Directors for key investments and as a critical counselor and business partner for the JJDC and J&J Innovation team in creating long-term, sustainable business investments that drive value creation.
Specific areas in which the successful candidate will lead activities are:
- Managing of selected JJDC portfolio companies, including board representation, ensuring progress against programmatic and financial benchmarks, and exit event analysis and execution.
- Adding to JJDC’s pipeline of potential investment opportunities by networking including VCs, entrepreneurs, scientific founders, and other relevant ecosystem partners.The principal’s geographic focus will be US East Coast and Eastern Canada.
- Diligencing potential opportunities to determine if they are capable of delivering upon the financial objectives, and in complex situations, this may also require identifying and utilizing expert consultants to help evaluate the scientific, technical, manufacturing, clinical and regulatory capabilities of potential investees.
- Structuring creative and custom-tailored investments and deal structures to meet the complex needs of the global pool of potential investees, ranging from academic seed investments, start-up companies, strategic alliances and J&J NewCo spin-outs.
- Facilitating newco formation if required.
- Managing a multi-stage investment review and approval process and preparing supporting documentation and materials. Key responsibilities include drafting term sheets, writing concept notes, writing investment memorandums and presenting and defending investment proposals before internal governance committees.
- In particular, he/she will be accountable with the investment team for validating financial and business plans as put forward by the management, the risks involved with the investment and how that relates to the price and financing of the transaction.
- Working to enhance J&J Innovation Centers and JJDC’s presence in the innovative Healthcare market.
Qualifications
The successful candidate will have a science background and be an investor from a venture capital, private equity, or corporate venture fund is preferred.
Additional experience could include a demonstrated track record in business development and in a role where this person is conducting corporate transactions and/or debt and equity structuring activities such as M&A, licensing agreements, joint ventures, etc. is preferred.
The candidate will be well versed and have proven experience in the fundamentals of conducting extensive diligence, in recommending and investing in early stage therapeutic drug companies that are aligned to J&J Pharmaceutical Sector R&D priorities is preferred.
This candidate should be well networked and have had exposure to the multitude of private investment opportunities similar to JJDC investment philosophy is preferred.
In addition to the requisite investment domain experience, the candidate must have a history of success throughout his/her life including business, academia and other pursuits.
Moreover, it is essential that the candidate has demonstrated the ability to initiate and cultivate meaningful relationships within the investment, academic and entrepreneurial communities is required.
To do so, he/she must bring the requisite credibility, interpersonal and negotiating skills and the commercial strategic insight to formulate and support the highest quality investment recommendations.
More specifically, the ideal candidate will likely possess a track record of the following technical competencies and personal characteristics:
- One or more advanced scientific degrees, such as an MD or a scientific PHD is required.
- Demonstrated investment track record in establishing, prioritizing and leading the origination/sourcing process, due diligence and investment transactions in biopharma and diagnostics with an established venture fund or private equity firm is required.
- Well-developed deal sourcing network and a robust network of contacts within the biotech and pharmaceutical industries, as well as, existing and strong personal relationships with the within the venture/private equity community is required.
- The ability to articulate and implement an investment strategy, demonstrate a creative capacity to source and select worthy deals, orchestrate end-to-end transactional closure, manage investor syndicates through a combination of diplomacy, business judgment and emotional intelligence is required.
- Proven experience with transaction structuring and negotiation including equity and debt financings, merger and acquisition, licensing agreements, joint ventures, etc. is required.
- Excellent verbal, written communication and presentation skills, coupled with the presence and self-confidence to interface with the key constituents of the firm and J&J internal stakeholders, management teams of portfolio companies, deal sources, service providers and others.
- Ability to rapidly be conversant with the company’s technology platforms, therapeutic products and markets coupled with the ability to deeply and thoroughly analyze and dissect a business; i.e. understanding the components and drivers of success beyond the financials.
- The capacity to work individually and as part of a team effort. Additionally, he/she will be able to work with flexibility, efficiency, enthusiasm and diplomacy and have demonstrated the ability to develop less senior investment team members, lead by example and influence to encourage collaboration across functions, levels, and groups to achieve shared objectives.
- A strong business orientation combined with unquestionable integrity, dependability, ethics and financial skills. This person must have a penchant for delivering the highest quality output with a strong sense of urgency and results orientation to a variety of constituencies including shareholders; strategic partners the Board of Directors and Company management and employees.
- Strong problem-solving and creative skills and the ability to exercise sound judgment and make decisions based on accurate and timely analyses.
- Self-awareness, maturity and irreproachable integrity.
Johnson & Johnson is an Affirmative Action and Equal Opportunity Employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, age, national origin, or protected veteran status and will not be discriminated against on the basis of disability.
If interested, please apply here.
