BioLight's TeaRx Multi-Parameter Diagnostic Assays to be Used in Dry Eye Syndrome Drug Trial

TEL-AVIV, Israel, February 23, 2017 /PRNewswire/ --

BioLight Life Sciences Ltd. (TASE: BOLT) ("BioLight"), an emerging global ophthalmic company focused on the discovery, development and commercialization of products and product candidates which address ophthalmic conditions, announced today that, DiagnosTear Ltd. ("DiagnosTear"), one of BioLight's subsidiaries, has signed a services agreement (the "Agreement") with a pharmaceuticals company, pursuant to which DiagnosTear will provide analysis services through its TeaRx™ multi-parameter diagnostic assays for use in an clinical trial for dry eye syndrome ("DES").

This Agreement marks the first time TeaRx™ will be used in a drug trial. The TeaRx™ assays will be used in order to characterize sub populations of responders and non-responders to the new DES drug treatment. Assuming the TeaRx™ analysis will result with a differentiation between responders and non-responders, the parties will, in good faith, extend their collaboration to a joint-development project of a potential companion diagnostics solution.

"DES is a multifactorial condition and, as such, requires a personalized approach to therapy," commented Suzana Nahum Zilberbeg, BioLight's Chief Executive Officer. "Indeed, the recent launch of a second FDA-approved drug for the treatment of DES clearly demonstrates that significant unmet medical need remains for the personalized treatment of patients suffering from this condition. With that in mind, we are thrilled to be involved in this clinical trial, and are optimistic about the role that TeaRx™ may play in the development of the next generation of DES therapeutics."

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. A change in any of the multiple parameters in the tear film could indicate a problem that might cause DES.

About TeaRx™ 

TeaRx™ is a diagnostic solution that provides a multi-assay analysis of tear film constituents in order to identify one or more underlying causes of DES.

About BioLight Life Sciences Ltd. 

BioLight addresses a number of significant unmet medical needs with a pipeline of ophthalmic 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 dry eye syndrome; Eye-D™, an in-office insertable platform that provides for controlled release of ophthalmic medications over time; OphRx's lyotropic liquid crystals, a non-invasive drug delivery technology administered through eye drops as an alternative to current ocular delivery modalities and LIPITEAR™, a microemulsion consisting of Phospholipidis and Triglycerides, which forms a tear tearl-like elastic lipid shield. BioLight has also invested, through Micromedic, in innovations in cancer diagnostics.

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 .

CONTACTS:
Israel Investor Contact:
Itai Bar-Natan, CFO
Email: [email protected]    
Tel: +972-73-2753400

U.S Investor Contact:
Stephen Kilmer, IR
Email: [email protected]
Tel: +1-646-274-3580

SOURCE BioLight Life Sciences Ltd.