SPEECH BY MR S ISWARAN, SENIOR MINISTER OF STATE FOR TRADE AND INDUSTRY AND EDUCATION, AT THE OFFICAL OPENING OF IBN iCARE AND NUH EYE CENTRE @ BIOPOLIS ON TUESDAY, 3 NOVEMBER 2009, 1400 HRS AT EXPLORATION THEATRETTE, THE MATRIX, BIOPOLIS

Agency for Science, Technology and Research

Prof Jackie Y. Ying, Executive Director, Institute of Bioengineering and Nanotechnology

, Chairman, National University Health System

Mr Boon Swan Foo, Executive Chairman, Exploit Technologies Pte Ltd

Distinguished Guests,

Ladies and Gentlemen

Introduction

It is my pleasure to be here today for the official opening of IBN iCare and the NUH Eye Centre @ Biopolis. We are in an exciting phase of development in biomedical sciences, and this initiative will further contribute towards positioning Singapore at the cutting edge of global biomedical research by bridging the gap from bench to bedside.

Advancing Translational Research in Singapore

Over the last decade, Singapore has progressively built a firm foundation in strategic biomedical research. Today, we have state-of-the-art research infrastructure, access to global talent, and multi-disciplinary research capabilities. All of this has enabled us to deliver quality research output that is also commercially viable. As a result, our biomedical sciences sector has also attracted significant investments from multinational corporations and venture capitalists. In 2008, global biomedical sciences companies invested more than US$500 million in Singapore[1]. Today, the biomedical sciences sector contributes about 4 per cent of Singapore's GDP and employs more than 16,000 individuals[2]. The biomedical services industry is shaping up as another key pillar of our economy alongside the electronics, chemicals and engineering sectors.

In the next decade and beyond, we will continue to grow the biomedical sciences sector by strengthening our capabilities in translational and clinical research. Partnerships between researchers and clinicians will be critical to help bridge the gap between basic research and clinical application. This, in turn, will help catalyse breakthroughs in the delivery of new medical products, treatments, and, ultimately, improved healthcare for the benefit of patients.

A good example of this partnership at work is the collaboration between IBN iCare and NUH Eye Centre @ Biopolis. IBN iCare is the first research lab in Singapore to focus on the development of novel nanomaterials for ocular therapy. Besides offering a full array of eye services, the NUH Eye Centre @ Biopolis provides the clinical research environment to facilitate the development of new materials and techniques for ophthalmology practice. Clinical trials of IBN’s nanostructured ocular materials are carried out at the NUH Eye Centre before being explored for commercial applications.

Apart from eye care, IBN scientists can also work closely with clinicians at NUH to advance collaborations in IBN’s four research areas: Drug and Gene Delivery, Cell and Tissue Engineering, Biosensors and Biodevices, Pharmaceuticals Synthesis and Nanobiotechnology. This is an open collaborative platform which, beyond IBN and NUH, is also open to other research institutes in Biopolis to utilise

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In addition, the NUH Eye Centre @ Biopolis also provides a channel for more translational research collaborations that help meet the healthcare needs of patients.For instance, NUH and IBN will be partnering the Singapore Armed Forces Medical Corps in research and training for vision correction technology to address the problems of myopia and ocular trauma. NUH and IBN are also developing an active partnership with Carl Zeiss which will look into developing technologies and treatments associated with IBN’s innovative ocular biomaterials.

Commercializing Local Research Innovations

IBN’s efforts to leverage on its scientific discoveries to develop real world applications is characteristic of A*STAR’s, and its institutes’, push to commercialise technology and R&D. Since its establishment in 2003, IBN has created an impressive intellectual property portfolio of over 730 patent applications.

IBN has also revolutionised biomedical science. The institute has developed sophisticated biomaterials and nanodevices for diseased cells and organs. One invention is the synthesis of a drug-loaded contact lens. This lens delivers medication for the treatment of eye diseases such as glaucoma more effectively than eye drops. Another invention is the first photochromic contact lens in the world. It can change color under sunlight to protect against ultraviolet radiation.

In fact, IBN and Exploit Technologies, the strategic marketing and commercialisation arm of A*STAR, are already in the process of bringing IBN’s unique biomaterials for ocular therapy to the market. Negotiations for a licensing agreement are already underway with two companies to manufacture and market IBN’s photochromic contact lens for daily and extended wear. The market potential is promising. 314 million people are visually impaired globally[3] and Singapore alone, has one of the highest rates of myopia in the world.The vision correction contact lens market size is estimated at US$6 billion and it is growing at 5 to 10 per cent per year[4].

I am particularly pleased to note that IBN’s foray into the contact lens market is just one of its many promising initiatives to commercialise the institute’s research innovations. Exploit Technologies has played a key role in this regard. Since its inception in 2002, Exploit has granted some 300 licences for A*STAR’s technologies to help Singapore-based companies grow through technology adoption. IBN iCare for example, was set up with a S$5 million Flagship fund from Exploit.

Conclusion

To conclude, I would like to congratulate the Institute of Bioengineering and Nanotechnology and the NationalUniversityHospital on the opening of IBN iCare and NUH Eye Centre @ Biopolis. This is a major milestone for strategic and translational research in the field of vision care technology and treatment in Singapore. I hope that this new initiative will inspire more partnerships between researchers, clinicians, companies and investors to develop and commercialise new biomedical technologies and treatments. With more of such partnerships in the pipeline, Singapore can foster a vibrant and dynamic research and enterprise community encompassing science, medicine and industry, and be well positioned to make significant contributions in meeting the healthcare needs of our society and the world.

Thank you