July, 2019 New Target Investment Snapshot
New Target Company Investment by GMH
To our investors and syndicate allies,
For this months new target company, we have one company that we are proud to present. The company is listed in detail below in this email and in the summary here:
Betaliq, Inc.: Betaliq is developing ophthalmic ß-blockers for the treatment of glaucoma using EyeSol® SFA formulation technology. Ophthalmicß blockers are a sizeable and growing market with very little competition or innovation.
New Target Company
Leveraging their EyeSol technology for various ophthalmic indications.
GMH Funding Amount:
$240k Series A Preferred
$20k Unit Minimum
Betaliq, inc. is headquartered In New York City, NY and is a privately held biopharmaceutical company formed in partnership with Novaliq GmbH to leverage their EyeSol technology for various ophthalmic indications.
EyeSol is a water-free, preservative-free solution for drug delivery that lends itself to use in ophthalmic indications. The EyeSol platform provides a solution in which drugs can be delivered to the eye with smaller drop size, higher residual time in the eye, and without additional excipients that may otherwise sting or cause other systemic safety concerns. Because of the advantages afforded by this technological innovation, Betaliq is developing Eyesol based formulations of the beta-blockers timolol and nebivolol for treatment of Glaucoma. Timolol is the most widely prescribed ophthalmic beta blocker. Nebivolol is a powerful selective beta blocker that could not previously be formulated for the eye. Management believes that Novaliq’s topical formulation will provide substantial safety and efficacy benefits over the water-based solutions that are currently available.
Beta-blockers are an attractive potential lead product for the EyeSol platform due to the large market, significant systemic safety concerns of the existing products, low competitive activity, and high potential for additional combination products in various ophthalmic indications. Beta-blockers also have a very well established regulatory pathway and clearly defined clinical endpoints, so the development risk is low compared to other ophthalmic categories.
It is estimated that a robust phase 2 trial to determine the safety and efficacy of these formulations can be conducted with $6mm and 18 months.
The EyeSol technology has strong intellectual property protection and is backed by nearly 90 granted and allowed patents around the technology and process that through 2039.
Collage Partners, a division of CIM Securities, LLC is syndicating up to $8mm of Series A Convertible Preferred Stock at a $15mm pre-money valuation and is working with Global Medical Holdings to close out this round with the final $240,000.
Betaliq has been co-founded by Novaliq, GMBH and BLP Management, LLC. Novaliq GMBH is a European specialty pharmaceuticals company. BLP Management LLC is a successful developer of a number of ophthalmic products headed by Barry Butler. Barry is an ophthalmic industry veteran with over eight exits in the ophthalmic space including AcSentient exit to Ista, Sirion Therapeutics exit to Alcon, Clermont Pharmaceuticals exit to Nephron, Phenylephrine exit to Valeant, Kurobe Pharmaceuticals exit to Perrigo, Revitalid exit to Osmotica, Eyenovia exit via an IPO (NASDAQ: EYEN), and his most recent exit of Oculos Clinial Research, a specialty-CRO focused on ophthalmic indications.
We will reach out after you have had a chance to review the enclosed materials. In the meantime, please feel free to contact the GMH team with any questions you may have.
Global Medical Holdings | firstname.lastname@example.org
Offices Lexington Kentucky & Cincinnati Ohio
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859-492-8280 or 513-370-3698