BioLight Announces Collaboration With Ora, Inc. for TeaRx™ Multi-Parameter Diagnostic Test for Dry Eye Syndrome

TEL-AVIV, Israel, June 15, 2015 /PRNewswire/ --

BioLight Life Sciences Investments (OTCQX: BLGTY, TASE:BOLT) ("BioLight" or the "Company"), a firm that invests in, manages and commercializes biomedical innovations in ophthalmology and cancer diagnostics, today announced that it has expanded its relationship with Ora, Inc., a world-leading independent, full-service ophthalmic contract research organization and product development firm, via the signing of a Collaboration Agreement (the "Agreement") pursuant to which the companies will work together to advance the clinical, regulatory and commercial development of BioLight's TeaRx™ multi-parameter diagnostic test for dry eye syndrome ("DES").

While financial terms were not disclosed, BioLight advised that, in accordance with the Agreement, it and Ora will jointly fund the clinical study and other activities required to obtain US 510K regulatory approval for the TeaRx™ multi-parameter diagnostic test for DES. BioLight also granted Ora the right to incorporate the TeaRx™ test in other clinical trials sponsored by third parties and performed by Ora.

"We are proud to be working with a world-leading organization like Ora and are confident that, with their support, we will be able to maximize the TearRX™ opportunity. This collaboration represents a vote of confidence in our TeaRx™ multi-parameter diagnostic test as a novel solution for pharmaceutical companies that will succefuly enble and lead to the development of new therapies to treat the DES, as well as additional companion diagnostic tools," commented BioLight's Chief Executive Officer, Suzana Nahum Zilberberg.

"While there have been a number of advances in our understanding of DES over the past few decades, there is no question that significant unmet medical need remains," said Ora's Vice President, Dry Eye, George Ousler. "TeaRx™ is a simple, accurate and objective test that can not only help identify those suffering from DES, but also the underlying causes of their disease.  As such, we believe it has great potential in both the companion diagnostics and research tool markets."

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 Ora, Inc. 

Ora is a global, full-service ophthalmic clinical research and product development firm. Over the past 30 years, it has helped clients earn 39 FDA approvals. Ora supports a wide array of organizations, from start-ups to global pharmaceutical and device companies, to efficiently and successfully bring their new products from concept to market. Ora's pre-clinical and clinical models, unique methodologies and regulatory strategies have been refined and proven across thousands of projects both in the US and internationally. Ora brings together the world's most extensive and experienced network of ophthalmic experts and R&D professionals in order to maximize the value of new product initiatives. For additional information, please visit http://www.oraclinical.com.

About BioLight Life Sciences Ltd.    

BioLight invests in, manages and commercializes biomedical innovations grouped around defined medical conditions - ophthalmology and cancer diagnostics. The ophthalmic technologies 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 a new technology a drug-delivery platform for the improvement of ocular molecule transmission; and OphRx, a drug delivery technology platform for ocular uses. The cancer diagnostic technologies include 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, 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.

CONTACT:
BioLight
Itai Bar-Natan, CFO
Email: [email protected]
Tel: +972-73-2753400

SOURCE BioLight Life Sciences Investments