Eyenovia Enters into Non-Binding Letter of Intent to Effect Reverse Merger with Betaliq

Core Viewpoint - The proposed reverse merger between Eyenovia, Inc. and Betaliq, Inc. aims to create a new publicly-listed ophthalmic company that combines innovative technologies for glaucoma treatment, potentially enhancing the administration of topical eye medications [1][2][7]. Company Overview - Eyenovia, Inc. specializes in developing advanced ophthalmic products using its proprietary Optejet dispensing platform, which is designed to improve patient compliance and treatment outcomes [10]. - Betaliq, Inc. focuses on developing topical glaucoma treatments utilizing its EyeSol water-free drug delivery technology, which enhances bioavailability and reduces the need for preservatives [9]. Merger Details - The merger values Betaliq at approximately $77 million and Eyenovia at about$15 million, with Betaliq equity holders expected to own around 83.7% of the combined entity [4]. - The transaction is contingent upon satisfactory due diligence, definitive agreements, board approvals, and necessary financing [3]. Technology Synergy - The merger combines Betaliq's EyeSol technology, which offers a drop size of 10 microliters and increased bioavailability, with Eyenovia's Optejet platform, which enhances usability and compliance [5]. - Both technologies are FDA-approved and are expected to create innovative treatment options for glaucoma and other ocular diseases [2][7]. Future Developments - Eyenovia is on track to file for U.S. regulatory approval for its user-filled Optejet in the fourth quarter of this year, which is compatible with various topical ophthalmic liquids [6]. - The combined company aims to leverage existing product pipelines and partnerships to expand its market presence in the eyecare sector [7].