TEL AVIV, Israel, January 12, 2015 /PRNewswire/ --
BioLight Life Sciences Investments Ltd. (OTC: BLGTY, TASE: BOLT), a firm that invests in, manages and commercializes biomedical innovations in ophthalmology and cancer diagnostics, today announced its investment in a newly-formed ophthalmic company that has licensed-in a world-wide drug-delivery platform from the Hebrew University, Israel, that has the potential to enable more efficient and safer delivery of eye drops.
This drug-delivery platform will help address improve patient compliance with eye disease drug regimens and will form the basis for possible drug development by the new company targeting diseases affecting both the front and back of the eye.
BioLight will co-manage the new company and will hold 40% equity stake.
Suzana Nahum-Zilberberg, BioLight's chief executive officer, said, "This new investment represents a major step in our goal to expand our ophthalmic portfolio that addresses clear unmet needs in the multibillion dollar ophthalmic drug market. Our experience in the ophthalmic space will definitely contribute to the new company efforts to find the best ways to develop this novel drug delivery technology into a portfolio of new drugs with better efficacy and safety profiles."
BioLight Life Sciences Investments 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; and Eye-D®, a controlled release drug-delivery insert platform. The cancer diagnostic activities include tests that are designated for bladder, cervical, multiple myeloma and other cancers.
Leading key investors, holding about 45% of BioLight's shares, 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.
Itai Bar-Natan, CFO ([email protected])
SOURCE BioLight Life Sciences Investments Ltd