Johnson & Johnson‘s (NYSE:JNJ) Vision business said this week that it inked an approximately $26.4 million collaborative research deal with The Singapore National Eye Centre and the Singapore Eye Research Institute looking to improve treatments for myopia.
The public-private strategic partnership is the first of its kind in Asia, according J&J, and will promote exploration of how myopia develops, progresses and possible interventions.
“SNEC is honored to be working with collaborators coming together to address the growing burden of myopia,” Professor Wong said. “By leveraging the diverse strengths of our clinicians, clinician scientists and strategic partners to establish new disease frameworks and share this knowledge across world communities to help eradicate myopia,” SNEC medical director Wong Tien Yin said in a prepared statement.
“The incidence of myopia is increasing at an alarming rate around the world and if left unchecked, the human and financial toll could skyrocket in the coming decades, especially in Asia. We are delighted to be collaborating with SERI and SNEC to better understand the underpinnings of this condition and identify ways to halt this global public health threat. Together, we hope to bring important progress to individuals and families throughout the Asia Pacific region and ultimately, around the world,” J&J chief scientific officer Dr. Paul Stoffels said in a prepared release.
The groups will look to develop predictive tools to identify individuals at high risk of developing high myopia through the exploration of the underlying mechanisms of it.
“Documented increases in myopia, especially among young people, are a serious concern and if we can understand the underlying mechanisms that are contributing to its rapid rise, we can work to tackle the problem at its roots. SERI is strongly committed to collaborating with leading companies to address eye diseases, and we are excited to be embarking on this research collaboration to break new ground against the epidemic,” SERI executive director Aung Tin said in a press release.
Last month, Johnson & Johnson posted third quarter sales and earnings that topped the consensus forecast, prompting the healthcare giant to raise its outlook for the rest of the year.
