Novaliq GmbH, a specialty pharmaceutical company for the development and commercialization of first- and best-in-class ocular therapeutics based on EyeSol® and BLP Management group today announce the formation and funding of Betaliq Inc., a new company located in Tampa, Florida.
Glaucoma is the leading cause of irreversible blindness worldwide, with an estimated 70 million people currently affected by the condition. The US glaucoma market of more than 3.7 million diagnosed patients is expected to expand further due to an aging population. Ophthalmic ß-blockers are a sizeable and growing therapeutic option in this market.1
Betaliq Inc. is a corporation organized and existing under and by virtue of the provisions of the General Corporation Law of the State of Delaware (the “General Corporation Law”).
Betaliq’s pipeline consists of two preservative free glaucoma drug candidates based on new in class and best in class ß-blocker molecules using Novaliq’s waterfree EyeSol® technology. EyeSol® is the worldwide first and only water-free technology for ophthalmology products. Two EyeSol® based ophthalmic products are currently approved in Europe and two active INDs are in late-stage in the United States.
Betaliq is backed by an experienced management team lead by Barry Butler, a successful entrepreneur with 30 years of pharmaceutical experience serving as Chief Executive Officer of the company, and a highly experienced management team. Recently the company has successfully closed a Series A financing to fund the company and to conduct phase 2 trials in the United States.
“I am excited to use this promising water-free technology also for glaucoma,” said Barry Butler, I believe the advantages offered by the Eyesol® platform will bring significant benefits to glaucoma patients.”
The EyeSol® technology offers important advantages over traditional eye drop technology, including a drop size approxately ¼ of the size of water-based drops. This smaller drop size has the potential to result in less systemic absorption. Other advantages of EyeSol® include longer residence time on the eye, better penetration, and no need for toxic preservatives.
“With Betaliq, we aim to transform how glaucoma patients can be treated in the future expanding application of EyeSol® to another major indication,” said Christian Roesky, Novaliq’s CEO and member of the Board of Directors Betaliq Inc. “Our latest clinical trials in dry eye disease with two topical products based on our unique water-free technology have just demonstrated the difference our products can have for patients with an ocular surface disease. We believe that with Betaliq, we can offer the same impact to glaucoma patients.”