BioLight Announces First IOPtiMate™ System Sale in Portugal
PR Newswire BioLight Life Sciences Investments Ltd.
TEL AVIV, Israel, December 8, 2015 /PRNewswire/ --
BioLight Life Sciences Investments Ltd. (TASE: BOLT, OTCQX: BLGTY) ("BioLight" or the "Company"), a firm that invests in, manages and commercializes biomedical innovations in ophthalmology and cancer diagnostics, today announced the first sale of the IOPtiMate™ system to a medical center located in Portugal.
The IOPtiMate™ system is based on CO2 laser technology that enables the performance of a unique filtration surgery to treat glaucoma without penetrating the inner part of the eyeball, thus allowing for substantial reductions in post-operative complications and use of eye drops compared with alternatives.
The IOPtiMate system is currently being marketed primarily to leading physicians and medical centers in Asia and Europe. These marketing efforts have resulted in recent first sales of the IOPtiMate™ system in Hong Kong, Poland, Hungary, Romania and Peru.
Recently, the Company announced that it had entered into a joint financing agreement with two Asia-based venture capital firms (the "New Investors"), pursuant to which BioLight and the New Investors will make a direct equity investment in BioLight's IOPtima Ltd. subsidiary via a private placement. The financing will help IOPtima to continue the global commercialization of its innovative IOPtimate™ system, as well as to initiate a regulatory approval pathway process for the system with the U.S. Food and Drug Administration, commencing 2016.
This press release is being made in accordance with BioLight's policy of announcing a first sale in a new territory.
