Johnson & Johnson’s JNJ pharmaceutical unit, Janssen Pharmaceuticals, Inc., announced that it has acquired rights to privately-owned biotechnology company Hemera Biosciences, LLC’s investigational gene therapy, HMR59.HMR59 is a one-time, outpatient, intravitreal injection to help preserve vision in patients with geographic atrophy, a late-stage and severe form of age-related macular degeneration (AMD). It is designed to increase the ability of retina cells to make a soluble form of CD59, helping prevent further damage to the retina and preserve vision.The financial terms of the transaction were not disclosed.The phase I study of HMR59 in patients with geographic atrophy is complete. A second phase I study evaluating HMR59 in patients with wet-AMD is currently conducting follow-up visits to evaluate long-term safety.J&J’s shares have risen 1.6% in the year so far compared with the industry’s 2.2% growth.The acquisition expands Janssen’s eye disease portfolio, which was established in 2018. The acquisition also strengthens its gene therapy capabilities. Since HMR59 is a one-time treatment, the market potential for the same is expected to be robust.Geographic atrophy affects five million people worldwide. It is a leading cause of blindness in people above 50 years of age. There are currently no available therapies other than vitamins and low vision aids.Other companies, which are evaluating treatments for this condition, include Apellis Pharmaceuticals APLS, which is evaluating pegcetacoplan, an investigational, targeted C3 therapy, for the treatment of geographic atrophy. IVERIC bio, Inc. ISEE is evaluating Zimura (avacincaptad pegol) for the treatment of geographic atrophy secondary to AMD.Zacks Rank & A Stock to ConsiderJ&J currently carries a Zacks Rank #3 (Hold). A better-ranked stock in the healthcare space is Halozyme Therapeutics, Inc. HALO, which carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Halozyme’s earnings estimates have grown 18 cents for 2020 in the past 30 days.These Stocks Are Poised to Soar Past the PandemicThe COVID-19 outbreak has shifted consumer behavior dramatically, and a handful of high-tech companies have stepped up to keep America running. Right now, investors in these companies have a shot at serious profits. For example, Zoom jumped 108.5% in less than 4 months while most other stocks were sinking.Our research shows that 5 cutting-edge stocks could skyrocket from the exponential increase in demand for “stay at home” technologies. This could be one of the biggest buying opportunities of this decade, especially for those who get in early.See the 5 high-tech stocks now>>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Johnson & Johnson (JNJ): Free Stock Analysis Report Halozyme Therapeutics, Inc. (HALO): Free Stock Analysis Report Apellis Pharmaceuticals, Inc. (APLS): Free Stock Analysis Report IVERIC bio, Inc. (ISEE): Free Stock Analysis Report To read this article on Zacks.com click here.