TEL AVIV, Israel, December 8, 2015 /PRNewswire/ --
BioLight Life Sciences Investments Ltd. (TASE: BOLT, OTCQX: BLGTY) ("BioLight" or the "Company"), a firm that invests in, manages and commercializes biomedical innovations in ophthalmology and cancer diagnostics, today announced the first sale of the IOPtiMate™ system to a medical center located in Portugal.
The IOPtiMate™ system is based on CO2 laser technology that enables the performance of a unique filtration surgery to treat glaucoma without penetrating the inner part of the eyeball, thus allowing for substantial reductions in post-operative complications and use of eye drops compared with alternatives.
The IOPtiMate system is currently being marketed primarily to leading physicians and medical centers in Asia and Europe. These marketing efforts have resulted in recent first sales of the IOPtiMate™ system in Hong Kong, Poland, Hungary, Romania and Peru.
Recently, the Company announced that it had entered into a joint financing agreement with two Asia-based venture capital firms (the "New Investors"), pursuant to which BioLight and the New Investors will make a direct equity investment in BioLight's IOPtima Ltd. subsidiary via a private placement. The financing will help IOPtima to continue the global commercialization of its innovative IOPtimate™ system, as well as to initiate a regulatory approval pathway process for the system with the U.S. Food and Drug Administration, commencing 2016.
This press release is being made in accordance with BioLight's policy of announcing a first sale in a new territory.
About BioLight Life Sciences Ltd.
BioLight's ophthalmic product offering and pipeline of product candidates include IOPtiMate™, a laser-based non-invasive surgical treatment for glaucoma; TeaRx™, a point-of-care multi-parameter diagnostic test for dry eye syndrome; Eye-D®, a controlled release drug-delivery insert platform and OphRx's lyotropic liquid crystals, or LLC, a non-invasive topical drug delivery technology administered through eye drops as an alternative to current ocular delivery modalities. BioLight has also invested in biomedical innovations in cancer diagnostics, including proprietary tests that are designated for bladder, cervical, multiple myeloma and other cancers.
Leading key investors are Mr. Israel Makov, Chairman of Sun Pharmaceuticals, former CEO and President of Teva Pharmaceuticals and former Chairman of Given Imaging, Mr. Dilip Shanghvi, founder of Sun Pharmaceuticals, India's largest pharmaceutical company, Mr. Dan Oren, founder and CEO of Dexcel Pharma, the second-largest pharmaceutical manufacturer in Israel and Rock-One, a Hong Kong-based investment company.
For more information please visit the Company's website at http://www.bio-light.co.il.
Itai Bar-Natan, CFO
SOURCE BioLight Life Sciences Investments Ltd.