BioLight Announces U.S. Patent Approval for its Formulation of Latanoprost in its Proprietary Controlled Release Insert for the Treatment of Glaucoma
TEL-AVIV, Israel, May 14, 2014 /PRNewswire/ --
BioLight Israeli Life Sciences Investments Ltd. (TASE: BOLT)(OTCQX: BLGTY), a firm that invests in, manages and commercializes biomedical innovations grouped into clusters around defined medical conditions, announces that ViSci, its wholly owned subsidiary, has been informed that a patent number 8,722,739 covering the proprietary formulation of Latanoprost, the medication contained in its controlled release insert for the treatment of Glaucoma, has been granted by the U.S. Patent and Trademark Office. The patent is intended to protect, inter alia, the chemical structure of the active ingredient for the treatment of glaucoma. The patent is also covering the release of the active ingredient from the Eye-D® subconjunctival insert and its use in treating elevated intra-ocular pressure in patients with glaucoma and ocular hypertension. The patent and its registration will be in effect at least until April 2030.
ViSci holds an exclusive option from Novaer LLC to a worldwide exclusive license for any use of the insert's proprietary technology. Use of such insert is an effective therapeutic solution to the well-known poor compliance rates with chronic eye-drop administration in ophthalmology.
Recently ViSci has successfully completed an ocular toxicology and safety study in animals and has filed an Investigational New Drug (IND) with the U.S. Food and Drug Administration (FDA) to conduct a Phase I/IIa clinical study with its Eye-D® Latanoprost controlled release insert for the treatment of glaucoma. The study will be conducted at up to seven investigative sites in the U.S.A.
Suzana Nahum-Zilberberg, BioLight's chief executive officer said, "We believe that our Eye-D® controlled-release insert will provide an effective solution to the well-known poor compliance with chronic eye-drop administration commonly used today as a treatment for glaucoma. This U.S. patent approval will strengthen our business, marketing and competitive advantages of our company."
Glaucoma, which created pressure within the eye causes damage to the optic nerve that may lead to full or partial blindness, is considered the second most common cause of blindness worldwide. According to estimates commonly accepted in the field, there are now about 67 million people worldwide that suffer from the disease. Glaucoma is usually a chronic disease requiring lifelong treatment, and based on assessments, the global market for drug therapy and surgery, is estimated at $4 billion annually.
BioLight Life Sciences Investments invests in, manages and commercializes biomedical innovations grouped into "clusters" around defined medical conditions. Its two current clusters are in ophthalmology via 100% ownership of XLVision Sciences and in cancer diagnostics via a 29% controlling ownership of Micromedic (TASE: MCTC). XLVision technologies include IOPtiMate™, a laser-based noninvasive surgical treatment for glaucoma; TeaRx, a point-of-care dry-eye syndrome diagnostic test; and Eye-D™, a long-term controlled release drug-delivery implant platform. Micromedic diagnostic tests are designed to detect colorectal, cervical, breast, bladder, lung and other cancers. Leading key investors, holding about 45% of BioLight's shares, are Mr. Israel Makov, Chairman of Sun Pharmaceuticals and former CEO and President of Teva Pharmaceuticals, with Mr. Dilip Shanghvi, founder of Sun Pharmaceuticals, India's largest pharmaceutical company, and Mr. Dan Oren, founder and CEO of Dexcel Pharma, the second-largest pharmaceutical manufacturer in Israel.
For more information please visit the Company's website at http://www.bio-light.co.il.
SOURCE BioLight Israeli Life Sciences Investments Ltd.