We would like to congratulate our member company, Baltymas! The team won the Pitch Battle start-ups competition at the conference of Life Sciences Baltics. 10 final companies competed for the main prize established by Versli Lietuva.
During the presentation, Dr Rimantas Slibinskas, the head of Baltymas, introduced one of the most common diseases causing blindness – Age-related macular degeneration (AMD). Every year, millions of people are affected by the disease, and the growing number of sufferers forces them to seek simpler and cheaper treatments. This disease is still being treated with painful medication injections. Procedures must be repeated frequently and their effects fade out after a while. The technology, developed by the company, aims to facilitate the treatment of the disease by using of recombinant protein calreticulin to produce eye drops. This would become a painless, patient-friendly alternative to treatment. Baltymas is currently looking for potential investors to launch clinical trials of the drug.
The jury had to evaluate the contestants by 8 criteria. The idea presented by Baltymas was recognized of the commission and won the main prize established by Enterprise Lithuania. The winners will go on a trip to the Akron, USA, where they will be able to present their idea at local universities, science and medical centres. Congratulations to Baltymas!
