BioLight Israeli Life Sciences Investments Begins Trading on OTCQX®
NEW YORK, Feb. 20, 2014 /PRNewswire/ -- OTC Markets Group Inc. (OTCQX: OTCM), operator of Open, Transparent and Connected financial marketplaces, today announced that 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, has chosen to have its American Depositary Receipts (ADRs) trade on OTCQX®, the Best Marketplace with Qualified Companies.
BioLight ADRs, where each ADR represents 100 ordinary shares, begin trading today under the symbol "BLGTY" on OTCQX International, a segment of the OTCQX marketplace reserved for high-quality non-U.S. companies that are listed on a qualified international exchange and provide their home country disclosure to U.S. investors. U.S. investors can find current financial disclosures and Real-Time Level 2 quotes for the company at www.otcmarkets.com.
"We are pleased to welcome BioLight to the OTCQX marketplace," said R. Cromwell Coulson, President and CEO of OTC Markets Group. "Led by its Chairman Mr. Israel Makov, the former CEO and President of Teva Pharmaceuticals, and world–renowned management team and base investors with significant pharmaceutical and biomedical experience, BioLight is one of the most exciting companies in Israel today. By initiating an ADR program and trading on OTCQX, BioLight now has access to the world's largest pool of investors to help accelerate growth while providing U.S. investors a quality trading and information experience."
"We are delighted to have BioLight's ADRs begin trading on the OTCQX," said Suzana Nahum Zilberberg, CEO of BioLight. "BioLight's business model offers U.S. investors the opportunity for a single investment that provides access to a robust portfolio of novel products, leveraging knowledge synergies and economies of scale in therapeutic-specific clusters."
BNY Mellon serves as BioLight's Principal American Liaison ("PAL") on OTCQX, and is responsible for providing professional guidance on OTCQX requirements.
BioLight invests in, manages and commercializes biomedical innovations grouped into "clusters" around defined medical conditions. The 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. Base key investors, holding about 55% of BioLight's shares, are Mr. Israel Makov, Chairman of Sun Pharmaceuticals and Given Imaging 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 www.bio-light.co.il
About OTC Markets Group Inc.
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SOURCE OTC Markets Group Inc.