TEL AVIV, Israel, May 19, 2016 /PRNewswire/ --
BioLight Life Sciences Ltd. (TASE: BOLT), ("BioLight" or the "Company"), an emerging global ophthalmic company focused on the discovery, development and commercialization of products and product candidates which address ophthalmic conditions, announced today that it has obtained the worldwide rights (excluding Israel and Italy) for the manufacturing, distribution, marketing and sales of a groundbreaking new eye drop product for the treatment of dry eye syndrome (DES) and other ophthalmic indications. The product was in-licensed by BioLight from Fischer Pharmaceuticals Ltd. and RAMOT, the technology transfer arm of the Tel Aviv University. The product has CE Mark marketing approval in Europe, and BioLight is currently evaluating the clinical and regulatory efforts required to commercialize it in other territories around the world.
BioLight was also granted exclusive global rights (excluding Italy) by RAMOT to develop, manufacture and commercialize additional new ophthalmic therapies based on the product's underlying technology. The technology, which protects the ocular surface and enhances the corneal re-epithelization process, was originally developed in the Tel-Aviv University.
"This global in-licensing agreement adds a fifth major ophthalmic product to our pipeline," commented commented BioLight's Chief Executive Officer, Suzana Nahum Zilberberg. "While there have been a number of advances in the understanding and treatment of DES over the past few years, there is no question that significant unmet medical need remains. The potential synergies of pairing the new DES therapeutic product with our TeaRx™ multi-parameter diagnostic test for DES are both obvious and exciting. We look forward to updating our stakeholders as we progress."
About Dry Eye Syndrome
DES is a common disorder of the ocular surface in which the eye produces insufficient tears or tears with abnormal composition. In its mild to moderate forms, DES causes pain and discomfort, and can impact vision quality and the ability to go about daily activities. In its more severe forms, DES can lead to the permanent loss of vision. DES affects approximately 40 million people in the U.S. and 100 million people worldwide.
About BioLight Life Sciences Ltd.
BioLight address ophthalmic significant unmet medical needs with a pipeline of products and product candidates, which are in various commercial and clinical stages, including: IOPtiMate™, a laser-based non-invasive surgical treatment for glaucoma; TeaRx™, a diagnostic solution that provides a multi-assay analysis of tear film constituents in order to identify one or more underlying causes of DES; Eye-D™, an in-office insertable platform that provides for controlled release of ophthalmic medications over time and OphRx's lyotropic liquid crystals, or LLC, a non-invasive drug delivery technology administered through eye drops as an alternative to current ocular delivery modalities. BioLight has also invested, through Micromedic, in 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.
SOURCE Bio Light Israeli Life Sciences Investments Ltd.