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SOURCE BioLight Israeli Life Sciences Investments Ltd.
TEL AVIV, Israel, Jan. 23, 2014 /PRNewswire/ -- BioLight Israeli Life Sciences Investments Ltd. (TASE: BOLT.TA), a firm that invests in, manages and commercializes biomedical innovations grouped into clusters around defined medical conditions, announced today that it has received approval from the U.S. Securities and Exchange Commission (SEC) to commence its American Depository Receipt (ADR) program. Over-the-counter (OTC) trading in the BioLight ADR Level 1 will commence on January 22 under the ticker symbol "BLGTY" (CUSIP Number: 09072W103). Each ADR will be comprised of 100 ordinary shares of BioLight.
The ADR Level 1 listing is a part of the Company's ongoing strategy to increase awareness and exposure of its business and technologies to strategic foreign investors, global investment funds and the international capital markets in general.
Suzana Nahum Zilberberg, BioLight's CEO, commented, "The trading of BioLight shares in the U.S. through this ADR program will allow us to further share our unique business model and our leading technologies with a broader spectrum of international partners and investors, while better enabling non-Israeli investors to invest in BioLight's equity. We believe that initiating this ADR program while two products are in the initial commercialization stage demonstrates an important opportunity to increase the public exposure of our business model and our additional products in development. We believe that BioLight is very strongly positioned to execute additional commercialization agreements in the near term and to expand and diversify our investors' and partners' portfolio."
Ms. Nahum Zilberberg added, "In the coming months, we also expect many other value-creating events to occur. We look forward to continually increasing the exposure of BioLight's unique business and technologies among international investors and partners."
About BioLight Israeli Life Sciences Investments Ltd.
BioLight Israeli Life Sciences Investments invests in, manages and commercializes biomedical innovations grouped into "clusters" around defined medical conditions. The two current clusters are in ophthalmology via 100% ownership of XLVision Sciences, and in cancer diagnostics via a 29% controlling ownership of Micromedic (TASE: MCTC). XLVision technologies include IOPtimate™, a laser-based noninvasive surgical treatment for glaucoma; TeaRx, a point-of-care dry-eye syndrome diagnostic test; and Eye-D™, a long-term controlled release drug-delivery implant platform. Micromedic diagnostic tests are designated for colorectal, cervical, breast, bladder, lung and other cancers.
This press release contains forward looking statements on our current expectations and projections about future events. These forward-looking statements are subject to known and unknown risks, uncertainties and assumptions about us and our affiliate companies. There can be no assurance that such results will be realized and actual results in each case could differ materially from those currently anticipated in such statements as a result of various factors. BioLight is not under any obligation to update or correct any future forecasts and/or forecasting statements to reflect events or circumstances after the date of this press release. BioLight makes no express or implied representation or warranty as to the achievement of the forecasts or the accuracy or completeness of the information contained herein. BioLight expressly disclaims any and all liability which may be based on such information, errors therein or omissions therefrom. This press release does not constitute an offer to sell or the solicitation of an offer to subscribe for or buy or sell securities of BioLight.
Itai Bar-Natan, CFO (firstname.lastname@example.org)
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