Eyenovia Inc announced that it has signed a nonbinding letter of intent to merge with Betaliq Inc, a clinical-stage pharmaceutical company focused on glaucoma treatments. If completed, the transaction would create a publicly traded ophthalmic company integrating Eyenovia’s Optejet dispensing technology with Betaliq’s EyeSol drug delivery platform.

The proposed merger assigns Betaliq a valuation of approximately $77 million and Eyenovia $15 million. Under the terms of the agreement, Betaliq shareholders would own roughly 83.7% of the combined entity, while Eyenovia shareholders would hold the remaining 16.3%.

Eyenovia plans to continue marketing its FDA-approved products and to pursue additional licensing opportunities. The Optejet platform, designed for more efficient ophthalmic drug administration, is compatible with Betaliq’s EyeSol technology, which enhances drug bioavailability and eliminates preservatives. Betaliq’s technology is already incorporated into approved treatments such as Meibo (Bausch + Lomb) and Vevye (Harrow).

The transaction remains contingent on due diligence, definitive agreements, and financing arrangements. GP