What are the responsibilities and job description for the Associate Venture Investments, Medical Devices JJDC position at Johnson & Johnson?
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 Associate, 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.
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 Associate, 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 medical device investing under the guidance and mentorship of a JJDC Vice President. 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 Associate will be working with other JJDC investors and the broader 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 working on all aspects of the investment process on transactions. In addition, this person may serve as member of the Board of Directors (or as observer) for some investments, and as a critical 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 observer 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 North America (excluding west coast)
· Conduct diligence on 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 NewCos or 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
- Bachelor’s degree required.
- An advanced degree (MBA, JD or PhD) is preferred
- Major in science/engineering is preferred.
- 2+ years R&D/BD/marketing experience in a medical device company is required
- 1-2 years of investment experience (Venture Capital/Private Equity, investment banking, private equity) or 1-2 years consulting experience in medical device sector is required
- Outstanding analytical skills, detail-oriented, proactive and self-motivated
- Ability to produce well designed professional looking Powerpoint presentations
- Strong written and verbal communication skills
- Prior experience as 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.
- Experience in deal-making experience in medical device is preferred
- Ability to travel up to 30% of time required
- Outstanding collaborator as a member of a working team
- Outstanding strategic thinking and strong analytical capabilities
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.
Primary Location
United States-Massachusetts-Cambridge-1 Cambridge Center
Organization
Johnson & Johnson Innovation - JJDC, Inc. (6073)
Job Function
Strategic Planning
Requisition ID
2005859777W
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