Janssen Biotech, Inc., formerly Centocor Biotech, Inc., is a biotechnology company that was founded in Philadelphia in 1979 with an initial goal of developing new diagnostic assays using monoclonal antibody technology. In 1982 Centocor transitioned into a publicly traded company. Subsequently, the company moved to a larger facility in Malvern, Pennsylvania (a northwest suburb of Philadelphia). In 1984, Centocor opened an overseas plant in Leiden, the Netherlands. In 1997, eighteen years after its foundation, Centocor achieved its first year of operating profitability. In 1998, Centocor sold its diagnostic division to Fujirebio, Inc..