Novaliq and BLP Management Group Established New Company, Betaliq Inc., to Leverage EyeSol Technology to Treat Glaucoma
- Betaliq is developing ophthalmic ß-blockers for the treatment of glaucoma using Novaliq’s waterfree EyeSol® technology
- Betaliq successfully collected proceeds in a Series A round
Heidelberg, Germany – April 25, 2019 – 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.”
Source: (1) The Glaucoma Research Foundation, www.glaucoma.org
Betaliq, Inc. is a collaboration between Novaliq GmbH, and BLP Management Group, LLC. Betaliq was formed to develop ophthalmic beta blockers using Novaliq’s patented EyeSol® non-water formulation technology.
EyeSol® is the first and only water-free eye drop technology for ophthalmology products. The EyeSol® technology offers important advantages over traditional eye drops, including a drop size approximately 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.
Betaliq is developing two beta blockers, for the treatment of glaucoma. BTQ 1901 is an EyeSol based formulation of a potent selective beta blocker that has not previously been used to treat glaucoma. BTQ 1902 is an EyeSol based formulation of timolol, the most commonly prescribed beta blocker.
Beta blockers are one of the most commonly prescribed classes of medicines to treat glaucoma. Beta blockers reduce Intraocular Pressure (IOP) by blockade of sympathetic nerve endings in the ciliary epithelium causing a fall in aqueous humour production. Beta blockers are often prescribed in combination with other glaucoma medications.
Betaliq, Inc. is incorporated in Delaware and based in Tampa Florida.More on www.betaliq.com
Novaliq is a pharmaceutical company focusing on the development and commercialization of first- and best-in-class ocular therapeutics based on EyeSol®, the first and only water-free technology worldwide for ophthalmology products. With an initial focus on dry eye disease (DED), Novaliq offers an industry-leading portfolio addressing today’s unmet medical needs of millions of patients with eye diseases. Two EyeSol® entities have been developed to distinctly target either predominantly aqueous or evaporative disease and potentially break the vicious circle of DED. Both are currently in phase 3 development. NOV03(100% perfluorohexyloctane) is the first drug developed to treat evaporative DED associated with Meibomian gland dysfunction in a highly effective way. CyclASol®, an ophthalmic solution of 0.1% cyclosporine A in EyeSol®, is an anti-inflammatory and immunomodulating drug for the treatment of aqueous deficient DED. Both investigational drugs have shown superior clinical benefit, with an early onset of action and an excellent tolerability profile. NovaTears®water-free eye drops for dry eye disease have CE Marking and are commercialized in Australia/New Zealand by AFT Pharmaceuticals and in Europe as EvoTears® by Ursapharm. Novaliq is headquartered in Heidelberg, Germany and has an office in Cambridge, MA, USA. The long-term shareholder is dievini Hopp BioTech Holding, an active investor in Life and Health Sciences companies. More on www.novaliq.com.
VP Marketing, Novaliq GmbH
Secretary Betaliq Inc.