Grand Pharma Reaches Strategic Cooperation with Eye Hospital, WMU, Strategically Planning the New Ophthalmic Preparation, And Building Public Eye Protection Ecosystem
(May 25, 2022 - Hong Kong) Grand Pharmaceutical Group Limited (“Grand Pharma” or the “Company”, together with its subsidiaries, the “Group”, stock code: 00512) is pleased to announce that the Group has reached a strategic cooperation agreement with the Eye Hospital of Wenzhou Medical University (“Eye Hospital, WMU”). Both parties reached a comprehensive cooperation in the field of ophthalmic drug research and development through resource sharing, research and development cooperation, and collaborative innovation; at the same time, the Group will, according to the R&D progress, pay RMB70 million by phases to obtain from Eye Hospital, WMU the technology and intellectual property rights of the technology used in the prevention and treatment of myopia and the new ophthalmic preparation (GPN00884) product in the Greater China Region (Mainland China, Hong Kong Special Administrative Region of the PRC, Macao Special Administrative Region of the PRC and Taiwan Region) , and subsequently may pay certain sales commission subject to the sales conditions of related products.
The Group expects this strategic cooperation to leverage the resources and advantages of both sides in their respective professional fields, strengthen industry-university-research cooperation on common ophthalmic diseases, and jointly promote cutting-edge innovative research and technological achievement transformation in the ophthalmic industry.
The Eye Hospital, WMU is one of the largest specialized ophthalmology hospitals in China. As a leader in the field of basic research and clinical prevention and control of refractive errors in China, Eye Hospital, WMU is the only medical institution that has three national platforms, including the State Key Laboratory of Optometry and Vision Science, the National Eye Optometry Engineering Technology Research Center, and the National Eye Disease Clinical Medical Research Center. In 2021, it was approved to build a key laboratory for clinical research and evaluation of medical devices and drugs for ophthalmic diseases of the National Medical Products Administration. The basic, clinical and translational research on myopia is the key research direction and characteristics of the above four platforms. Through research methods such as drug intervention, gene knockout and single-cell sequencing, Eye Hospital, WMU has clarified the regulatory mechanism of myopia at the tissue, cellular and molecular levels, and proposed a new mechanism of myopia formation. It has a profound academic foundation and built a whole chain innovation system around myopia.
Myopia is one of the most serious public health problems worldwide. According to the “World Report on Vision” issued by the World Health Organization, in 2020, the number of myopia patients in the world reached 2.6 billion, especially the prevalence of myopia in high-income countries in Asia-Pacific region reached 53.4%, which is much higher than that in Australia, Europe, Americas and other regions. China is the country with the most myopia in the world. According to the survey results of the National Health Commission, the prevalence of myopia among adolescents in China ranked first in the world. In 2020, the overall myopia rate of children and adolescents in China was 52.7%. Frost & Sullivan predicts that by 2030, there will be 190 million people with myopia under the age of 20 in China. Myopia in children and adolescents shows a trend of early age of onset, rapid progression, and deep degree, and the incidence rate is also rising. In 2018, the Ministry of Education and the National Health Commission and other eight departments jointly issued the “Implementation Plan for Comprehensive Prevention and Control of Myopia in Children and Adolescents”, and the prevention and control of myopia has become one of the national strategies. Driven by the large number of patients, the clinical and market demand for myopia treatment products will continue to expand.
As one of the major ophthalmic drug R&D, production and sales integrated enterprises in China, the Group has nearly 30 ophthalmic products, focusing on indications such as dry eye, fundus hemorrhage, glaucoma, cataract, anti-inflammatory and myopia, covering the ocular surface and fundus with a variety of diseases and good brand recognition. The Group has been committed to the development and introduction of new products in the field of ophthalmology. At present, a variety of innovative products have been deployed for dry eye, pterygium, anti-inflammatory and analgesic after ophthalmic surgery and other indications. At the same time, the Group will build an eye protection ecosystem and carry out rapid development in eye equipment and consumables.
The Board of Grand Pharmaceutical Group Limited, commented, “The Group reached in-depth cooperation this time in the field of ophthalmology with Eye Hospital, WMU may, on the one hand, strengthen the Group’s research and development capabilities in the field of ophthalmology through the form of cooperative development, which will further supplement the product pipeline of the Group in the field of ophthalmology especially for myopia, and at the same time will promote the clinical development of the Group’s ophthalmology projects under research; on the other hand, the industry-university-research cooperation between enterprises and scientific research institutions is conducive to cultivating more high-end technical talents, helping the industrialization of scientific research results in the field of ophthalmology, and promoting the healthy development of the ophthalmology industry.
Looking ahead, the Group will adhere to the strategy of ‘global expansion and dual-cycle operation’, continue to increase its investment in the world-class innovative products and advanced technologies, enrich product pipeline and improve supply chain, and make full use of its industrial advantages and R&D capabilities, to accelerate commercialization process for innovative products and provide patients with more advanced and diverse treatment options in the world.”