BioLight Reports Second Quarter 2015 Financial Results

TEL-AVIV, Israel, September 1, 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 reported operational and financial results for the second quarter ended June 30, 2015.

Operational Highlights: 

• Completed an upsized private investment and signed a strategic partnership with Rock-One International Holdings Ltd. designed to help BioLight maximize its presence within China, the second largest healthcare market in the world after the U.S.

•  Signed a collaboration agreement with Ora, Inc., a world-leading independent, full-service ophthalmic contract research organization and product development firm, pursuant to which the companies will work together to advance the clinical, regulatory and commercial development of its TeaRx™ multi-parameter diagnostic test for dry eye syndrome (DES).

• Reported first IOPtiMate™ System sales in new territories as well as the first sale of the IOPtiMate™ system procedures.

• Obtained CE Marking for the CellDetect® non-invasive test for detecting bladder cancer in urine, enabling the product to be marketed and sold in Europe and other territories.

• Subsequent to the end of Q2, reported positive clinical study results for the identification of new genetic markers to predict risk of developing BRONJ.

Financial Results: 

All dollar amounts are expressed in New Israeli Shekels ("NIS"), with a convenience U.S. dollar translation of NIS amounts provided using the rate of NIS 3.769 to US$1.00, the representative rate of exchange as of June 30, 2015, and results are reported in accordance with International Financial Reporting Standards.

For the three months ended June 30, 2015, BioLight's revenues were NIS 325,000 (US$ 86,000). The net loss for the second quarter of 2015 was approximately NIS 8.4 million (US$ 2.2 million), or NIS 0.10 loss per share, as compared to a net loss of approximately NIS 11.3 million (US$ $3.0 million), or NIS 0.12 loss per share, for Q2-2014.

BioLight ended the second quarter in a strong financial position.  As of June 30, 2015, the Company had approximately NIS 43 million (US$ 11.4 million) in cash and short-term deposits.

"BioLight realized important progress during the second quarter, including the completion of strategic partnership agreements and commercial projects that will allow us to expand and grow our presence into new markets and territories," commented BioLight's Chief Executive Officer, Suzana Nahum Zilberberg. "We look forward to updating our stakeholders as we continue to execute our growth strategy and carry this momentum into the second half of the year."

The Company's financial statements and management's discussion and analysis are available on its website at http://www.bio-light.co.il and on the OTCQX website at http://www.otcmarkets.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.

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

SOURCE BioLight Life Sciences Investments Ltd.