STRATEGIC PLAN
1 July 2022 to 30 June 2025
BHVI acknowledges all First Nations peoples across the many lands in which we live and work and the continuing connection to country and culture. We pay our respects to Elders, past, present and emerging.
BACKGROUND
BHVI is a not-for-profit research and development organisation working in the ophthalmic space. BHVI’s primary focus – current, and historic – is on developing and licensing innovative technologies that correct vision.
BHVI is a company limited by guarantee, incorporated in Australia. Regulated by the Australian Charities and Not-for-profits Commission (ACNC), its identified charity programs are listed on the ACNC website as follows:
- Ophthalmic R&D in myopia, presbyopia, astigmatism (Diseases and conditions)
- Optometry education and knowledge (Higher education)
- Clinical and metrology services to support R&D technology development (Diseases and conditions).
The assets and income of BHVI are applied solely towards the promotion and furtherance of the objects of the Company as set out in its Constitution. Since its inception three decades ago, it has invested its revenues – which have exceeded AUD250 million – into research and development and other activities that are consistent with its objects. Through careful and conservative management, it has built a significant asset portfolio to ensure its long-term viability.
The BHVI Group consists of three active corporate entities: Brien Holden Vision Institute Ltd and two wholly owned subsidiaries, Vision CRC Limited (an Australian company) and Vision CRC (USA) Inc (a company incorporated in California).
BHVI is affiliated with the Brien Holden Foundation, which provides eye health services to remote, regional and disadvantaged communities in Australia, Asia, Africa and the South Pacific.
BHVI provides the Brien Holden Foundation with direct financial support and in-kind support through the provision of staff, premises and administrative assistance.
PURPOSE
To meet identified demands in the ophthalmic field, BHVI invents commercially relevant technologies, with a specific focus on innovative lens designs. BHVI lens designs address common refractive errors: presbyopia, myopia (near-sightedness), astigmatism and hyperopia (far-sightedness).
BHVI:
- Invents innovative designs for contact lenses, spectacle lenses and intraocular lenses that address refractive errors. In the myopia space, BHVI’s designs are at the forefront of worldwide ophthalmic industry efforts to slow the progression of near-sightedness in children, a condition that is sharply rising in prevalence world-wide;
- prototypes these innovative designs;
- validates the wearability and efficacy of those designs through independent clinical trials;
- protects those designs by obtaining patents in markets worldwide; and
- licenses those designs to the market leaders in the ophthalmic industry.
BHVI shares its knowledge and expertise by supporting the International Myopia Institute, working with the ophthalmic industry on educating practitioners and collaborating with its affiliate, the University of New South Wales, in the post-graduate space.
VALUES
- BHVI focuses exclusively on innovation in the ophthalmic sector.
- BHVI invents novel lens design technologies and protects them by obtaining intellectual property (patents and applications) in worldwide markets.
- BHVI focuses on meeting current unmet industry needs.
- BHVI works with its partners, and other leaders in the ophthalmic sector, to achieve its technological and commercial objectives and to address unmet market needs.
KEY SERVICE PROVIDER: VISION CRC (USA) INC
BHVI engages Vision CRC USA to provide expert research and development services.
- Stewardship of commercially relevant R&D projects with short and medium term sellable intellectual property (new and existing portfolio), test data and prototype supply. In some instances, a clinical trial will be conducted with a third party supplier to provide independent clinical analysis.
- Design of innovative lenses that address myopia, presbyopia, hyperopia and astigmatism.
- Lead new provisional/PCT patents and add claims to current patents to enhance BHVI’s comprehensive intellectual property portfolio.
- Resource management and utilisation to achieve the R&D strategy.
- Project management reporting of deliverables and timelines as per R&D strategy and investment.
BHVI R&D STRATEGY
Under the research and development leadership of Dr Arthur Back, through the engagement of Vision CRC (USA), BHVI has revitalised its intellectual property portfolio and protected a new and distinct series of market-leading presbyopia and myopia designs in the contact lens, spectacles and IOL fields. With Hassan Esfandiarijahromi, Dr Back has designed, patented and prototyped a new generation of ophthalmic lens designs that maximize the performance of the lens by achieving improved image quality and greater depth of focus.
BHVI deploys its expertise in myopia management to educate the next generation of eyecare professionals. Through its support of the International Myopia Institute and targeted initiatives like Myopia Awareness Week and online education, BHVI highlights the prevalence of myopia and the urgent need for widely available, effective treatments. Building on the landmark publication “Global prevalence of myopia and high myopia and temporal trends from 2000 through 2050” [Ophthalmology 2016;123(5):1036-1042, Holden, Fricke et al], BHVI is committed to exploring all aspects of the myopia epidemic and sharing its research findings with industry, the academic community, and the public at large.
BHVI CORPORATE STRATEGIC SUPPORT
BHVI supports its research & development strategy by providing legal/regulatory, financial management, governance and compliance services. The operating environment for a not for profit corporation is highly regulated with rigorous reporting requirements. Continuous improvement is required to manage the business-as-usual activities of the organisation.
Asset management is critical to the sustainability and growth of the organisation and ensuring the R&D investment is continuously available year on year. BHVI’s assets consist of intellectual property, cash and a property portfolio.
The four corporate objectives of BHVI are:
OBJECTIVE 1: Innovate commercially relevant technologies – primarily lens designs – in the ophthalmic space to correct refractive errors and slow the progression of myopia
- Secure a pipeline of innovative lens designs and design concepts that address myopia, presbyopia and astigmatism and meet current industry needs. Validate the wearability and efficacy of those designs through metrology and independent clinical trials.
- Create and develop new intellectual property and further exploit BHVI’s existing portfolio to protect those innovative designs and design concepts.
- Focus on commercialisation outcomes through the licensing of innovative designs, ensuring that the designs are practical and relevant to the needs of patients, their treating optometrists, ophthalmologists and the ophthalmic industry.
OBJECTIVE 2: Enhance scientific reputation in the field of myopia
- Actively support the International Myopia Institute and foster close relationships with leading research groups, seeking diverse input from opinion leaders worldwide
- Maintain the BHVI website-based myopia calculator with peer reviewed data and partner data sets and ensure it stays up to date.
- Working with UNSW, support and supervise current PhD students with research aligned with BHVI’s strategic objective; encourage supervisor/student publications.
- Educate practitioners and the ophthalmic sector with the BHVI myopia online education program. Ensure Continuing Education accreditation in Australia, USA, UK and New Zealand. Align with partners to maximise myopia management awareness. Lead targeted initiatives like Myopia Awareness Week.
OBJECTIVE 3: Operate with financial discipline by balancing the short-term and long-term funding of BHVI and maximising BHVI’s revenue in support of its R&D strategy.
- Generate an annual budget based upon conservative assumptions and ensure adherence to that budget. Create appropriate revenue projections to balance short and long term revenue.
- Strengthen and broaden BHVI’s commercialisation expertise through enhanced relationships with industry in order to maximise the potential returns on intellectual property.
- Actively manage the intellectual property portfolio through continuous engagement with external patent attorneys and experts.
OBJECTIVE 4: Use the resources of BHVI in the most efficient and effective manner in pursuit of its stated objects and to maintain its not-for-profit status
- Support existing licensees and maximise returns from current license agreements.
- Through performance assessment, ensure that staff are aligned with and deliver against BHVI’s stated objectives.
- Continuously develop organisational policies and procedures and make them readily accessible so that staff operate within an industry-standard corporate framework.
- Through staff recruitment and technical/business training, ensure BHVI (and its subsidiaries) has the expertise that it needs to support its objectives.
- Enhance the capability of BHVI’s organisational structure through the definition of roles, implementation of accountability measures and the appointment of people that align to the strategic plan. Continue to encourage staff to meet the objectives of BHVI through the implementation of continuous improvement methodologies and measurable practices.
- Adopt a continuous improvement approach that will foster beneficial change and support the achievement of a unified and transformed workplace culture at BHVI.
- Through continuous engagement with external legal and compliance experts, ensure that BHVI meets rigorous not-for-profit reporting requirements and corporate governance standards.
