A logo sign outside of a facility occupied by the Johnson & Johnson consumer division in Fort Washington, Pennsylvania on April 22, 2018. [Photo/IC]

SHANGHAI - Johnson & Johnson Innovation, a division of Johnson & Johnson (China) Investment Ltd., launched a 4,400-square-meter incubator for healthcare startups in Pudong New Area, Shanghai Thursday.

The incubator "JLABS," located in Shanghai's Zhangjiang High-Tech Park, can accommodate about 50 startups and opened with 31 companies from a range of sectors including therapeutics, medical devices and medical technology.

The incubator is Johnson & Johnson Innovation's first such facility in the Asia-Pacific Region and the largest of its kind in the world. It was co-built by the company and Shanghai Pharma Engine Co. Ltd.

Paul Stoffels, vice chairman of Johnson & Johnson's executive committee, said the Shanghai incubator would connect local and global entrepreneurs to help transform ideas into breakthrough health solutions.

Melinda Richter, global head of Johnson & Johnson Innovation, said the incubator would help "identify and nurture best in class science to transform how diseases are treated, cured, prevented and intercepted."