The company launched with $6 million in equity funding, which is still open. Betaliq has two compounds in its pipeline, both which use Novaliq’s waterfree EyeSol technology for ophthalmology products.
Novaliq GmbH, the Germany pharmaceutical company that markets drugs for eyes diseases using its EyeSol drug delivery technology, and BLP Management, founded and launched Betaliq. Betaliq is headquartered in Tampa, Fla. and will focus on developing drugs for glaucoma. The company launched with $6 million in equity funding, which is still open.
Betaliq has two compounds in its pipeline, both which use Novaliq’s water-free EyeSol technology for ophthalmology products. The two molecules are new in class and best in class beta-blocker molecules.
BTQ 1901 is an EyeSol-based formulation of a selective beta blocker that has not been used before to treat glaucoma. BT 1902 is an EyeSol-based formulation of timolol, which is the most-prescribed beta blocker. Beta blockers are the most common treatment for glaucoma. They reduce intraocular pressure by blocking sympathetic nerve endings in the ciliary epithelium, which causes a drop in aqueous humor production. They are often prescribed in combination with other glaucoma drugs.
The company plans to use the money raised to fund the company and conduct Phase II clinical trials of its two drug candidates.
The company’s chief executive officer will be Barry Butler, formerly president and chief executive officer of Sirion Therapeutics, a Tampa-based biotech company he sold in 2010. He then launched Point Guard Partners as a consultation service to the ophthalmic industry. He then went on to form BLP Management Group in Tarpon Springs, Fla.
“I am excited to use this promising water-free technology also for glaucoma,” stated Butler. “I believe the advantages offered by the EyeSol platform will bring significant benefits to glaucoma patients.”
The EyeSol technology has several advantages, including a drop size about a quarter that of the size of water-based drops. This has the potential for less systemic absorption. It also improves residence time in 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,” stated Christian Roesky, Novaliq’s chief executive officer and board member of Betaliq. “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.”
Glaucoma is typically caused by a buildup of pressure inside the eye. It is generally inherited and doesn’t usually show up until later in life. The increased pressure is called intraocular pressure and can damage the optic nerve. If that damage goes unchecked, it can lead to permanent vision loss. There are no particular early symptoms or pain. Eye doctors typically run an eye pressure test as part of a routine optical exam.
The disease affects at least 60 million people globally and the National Eye Institute estimates more than 2.7 million people in the U.S. have the disease. That number is expected to hit 4.3 million by 2030. It is also highly undiagnosed. The Eye Diseases Prevalence Research Group estimates that only half of individuals in the U.S. with glaucoma are aware they have it. As a result, it is a leading cause of adult blindness, but one of the most preventable with diagnosis and effective treatment.
