344 million people worldwide suffer from dry eyes in a market valued at USD 5.4 billion. Those that seek treatment turn to artificial tears to provide temporary relief, but in many cases seek more effective medical solutions for the condition. There is currently a lack of effective ophthalmic treatments for the condition where patients can apply over-the-counter solutions more than 10 times a day, and where prescription treatments fail to provide any symptom relief.
Redwood Pharma wants to do something about this.
Developing new ophthalmic treatments for dry eyes contributes to addressing a growing public health issue. Chronically dry, red and itchy eyes are the leading cause of patients booking appointments with ophthalmologists. As the population ages, this is a growing problem that affects sufferers’ quality of life.
We are convinced that this is a sound business investment as well. There are currently significant needs and treatment gaps in the market that we have the opportunity to fill.
Our product, RP101, is set to be the first on the market to contain the active ingredient estradiol/estrogen. Estrogen is approved and present in 500 other products on the market. Where the majority of underserved patients are women, RP101 will address the estimated 10 million post-menopausal women suffering from chronic, moderate-to-severe DED. Redwood Pharma’s own market research confirms high interest amonth and intent to prescribe RP101 by doctors both in the US and some the largest countries in the EU.
RP501 will address the underserved segment of artificial tears users who seek an effective and convenient solution to minimize the number of drops needed per day for temporary relief. Again, Redwood Pharma’s own market research indicates a high intent to switch to RP501 among DED sufferers in the US and EU4.
Redwood Pharma is defined by innovation. Our drug is based on an innovative drug delivery platform, IntelliGel, which are patented. This also gives us exclusive rights through a license agreement from Broda Technologies to all ophthalmological applications of the platform until 2031.
RP101 and RP501 are undergoing further development, but we are still just getting started. The plan is to commercialise our product by, for example, granting licences to larger drug companies. The fight against dry eyes has only just begun.