BioLight Announces Upcoming Change of ADS Conversion Ratio
PR Newswire BioLight Life Sciences Investments Ltd
TEL-AVIV, Israel, July 23, 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, announced today that, in accordance with recently obtained shareholder approval for a 1-for-10 reverse split of its ordinary shares ("Shares"), it will change its American Depositary Share ("ADS") to Share ratio from one (1) ADS representing one hundred (100) Shares to one (1) ADS representing ten (10) Shares, effective August 3, 2015. No action with regard to the ratio change is required from the holders of the ADSs.
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
Itai Bar-Natan, CFO