Johnson & Johnson (J&J) will use the investment to advance research and development and delivery programmes to eliminate both diseases by 2030.
The company will appoint a team of researchers, which will use the company’s scientific resources, to enhance the discovery, development and delivery of next generation medicines and vaccines.
When combined with other global programmes, the investment initiative will also help achieve the United Nations Sustainable Development Goal 3 targets.
J&J chief scientific officer and executive committee vice chairman Dr Paul Stoffels said: “No single institution can tackle the historic challenge of eliminating an infectious disease.
“By advancing our technologies, uniting our best scientists and leveraging decades of experience in HIV and TB, we’re optimistic that we can make a significant contribution to the global effort.”
The Janssen Pharmaceutical Companies of Johnson & Johnson (Janssen) will continue to advance an investigational mosaic-based vaccine regimen to prevent HIV along with a consortium of partners, as part of the $500m investment.
The company has completed the recruitment of 2,600 women in an ongoing Imbokodo efficacy trial in Southern Africa.
It is also set to begin the second efficacy trial in North America, South America and Europe. The Mosaico trial will enrol 3,800 men who have sex with men and transgender individuals.
Janssen, along with ViiV Healthcare, is also evaluating a long-acting injectable HIV treatment regimen that can be administered to patients once every two months.
If approved, the regimen can reduce HIV treatment for some patients with twelve to six injection visits per year to keep the virus under control compared to daily oral treatment taken 365 times per year.
Johnson & Johnson global public health global head Jaak Peeters said: “TB is the world’s number one infectious killer, and TB and MDR-TB cause major devastation for people, communities and entire countries around the world.”
In October 2018, J&J agreed to acquire all outstanding shares of Japanese skincare firm, Ci:z Holdings, in a deal valued at around ¥230bn ($2.04bn).