PETAH TIKVA, Israel, July 14, 2015 /PRNewswire/ -- OphthaliX Inc. (OTCQB: OPLI), a clinical-stage company focused on developing products that treat and improve sight for people living with ophthalmic disorders, and a subsidiary of Can-Fite BioPharma Ltd. (NYSE MKT: CANF), announced today it has launched an updated website, www.ophthaliX.com, to reflect its definitive agreement to acquire Israel-based Improved Vision Systems Ltd. (I.V.S.).
Upon completion of the acquisition of I.V.S., which is subject to the satisfaction of certain closing conditions, OphthaliX's portfolio of products in development will include two medical devices, Glance™, a desktop application, and vView™, wearable virtual reality goggles. These devices are based on breakthrough technologies that aim to diagnose, improve sight and offer therapy for a variety of ocular diseases and eye conditions including age related macular degeneration (AMD), glaucoma, diabetic retinopathy and oculo-motor pathologies.
OphthaliX continues to develop its drug candidate, CF101, a novel first in class small molecule orally bioavailable drug for ophthalmic indications, glaucoma and uveitis.
About OphthaliX Inc.
OphthaliX Inc. is a clinical-stage biopharmaceutical company focused on developing therapeutic products for the treatment of ophthalmic disorders.
This press release contains forward-looking statements, about OphthaliX's expectations, beliefs or intentions. In addition, from time to time, OphthaliX or its representatives have made or may make forward-looking statements, orally or in writing. Forward-looking statements can be identified by the use of forward-looking words such as "believe," "expect," "intend," "plan," "may," "should" or "anticipate" or their negatives or other variations of these words or other comparable words or by the fact that these statements do not relate strictly to historical or current matters. These forward-looking statements may be included in, but are not limited to, various filings made by OphthaliX with the U.S. Securities and Exchange Commission (the "SEC"), press releases or oral statements made by or with the approval of one of OphthaliX's authorized executive officers. Forward-looking statements relate to anticipated or expected events, activities, trends or results as of the date they are made. Because forward-looking statements relate to matters that have not yet occurred, these statements are inherently subject to risks and uncertainties that could cause OphthaliX's actual results to differ materially from any future results expressed or implied by the forward-looking statements. Factors that may cause actual results to differ from those contemplated by such forward-looking statements include, but are not limited to, the following: failure to enter into a potential financing transaction, failure to up-list to a national securities exchange, failure to otherwise satisfy any closing conditions, reaction to the proposed acquisition by strategic partners and employees; the diversion of management's time on issues relating to the proposed acquisition; the inability to integrate I.V.S.'s operations into those of OphthaliX, the inability to realize expected synergies from the proposed acquisition; changes in the stock price of OphthaliX prior to closing; material adverse changes in OphthaliX's or I.V.S.'s operations; a decline in the economy, as well as the risk factors set forth in OphthaliX's filings with the SEC. In addition, OphthaliX operates in an industry sector where securities values are highly volatile and may be influenced by economic and other factors beyond its control. OphthaliX undertakes no obligation to publicly update these forward-looking statements, whether as a result of new information, future events or otherwise.