With unique clinical evidence strengthening its competitive positioning, RP501 will be able to compete in a growing market of mild dry eye therapies including artificial tears valued at over USD 2 billion globally according to market survey by TMR in 2020. Market drivers include an ageing population, increased computer use/ screen time and increased pollution. A recent market survey of patients performed by Redwood Pharma in the US and Europe indicate that the market is in need of therapies that are effective and reduce the number of instillations per day. An estimated 40% (approximately 3.4 million people in the US and EU) of those surveyed would be interested in switching to it from their current products used today.

"With the help of regulatory experts, the Redwood Pharma team is now evaluating the development and regulatory paths forward to realize a product for initial commercialization in the US and EU, two of the largest markets globally. Once these paths have crystalized, Redwood will be able to define those activities needed to complete regulatory applications - it is our intention to communicate this to the market as soon as possible. We are clearly excited about this commercial opportunity to expand our product portfolio by leveraging our understanding of IntelliGel, results from the RP101 dry eye program and our clinical expertise in this area of ophthalmology. As there are many forms of dry eye and no single silver bullet, RP501 and RP101 can provide symptom relief to different groups of patients", states CEO Martin Vidaeus.