TEL AVIV, Israel & BEDMINSTER, N.J., Nov. 6, 2012 (GLOBE NEWSWIRE) -- ViSci Ltd., a wholly owned subsidiary of BioLight Ltd. (TASE:BOLT) entered into an option agreement with Novaer LLC, an affiliate of Aerie Pharmaceuticals Inc., to license the Eye-DTM technology for further development of a sub-conjunctival drug implant for the controlled release of ophthalmic medications.
Non-compliance with medical therapy is a significant and costly global health concern. This also applies to Glaucoma, which is the second leading cause of blindness in the world. The majority of glaucoma patients are treated with drugs that are locally administered using eye drops. It is often challenging for patients to take their eye drops daily as prescribed. Despite the availability of effective drug therapies, poor compliance occurs in an estimated 25 to 60% of patients, especially when those drugs need to be administered more than once daily. A small ocular drug implant, like Eye-D, that can be placed with a simple procedure, works to deliver a glaucoma drug for months and thus avoid the need for daily administration of eye drops. It would offer a potential compliance and convenience solution for many glaucoma patients
According to the agreement ViSci will get a worldwide exclusive option for an exclusive license for use of the implant technology, when the option is exercised.
The new technology will be part of BioLight's Ophthalmic cluster, currently comprising of one other company - IOPtima Ltd., a developer, manufacturer and distributer of a novel CO2 laser, minimally-invasive surgical device for glaucoma.
Suzana Nahum Zilberberg, BioLight's CEO said: "The collaboration with Aerie Pharmaceuticals and its affiliate Novaer LLC, is another important step in the creation of BioLight's Ophthalmic cluster. The new collaboration adds extensive knowledge and development experience, as well as contacts with global key opinion leaders, researchers and investors. It creates real added value to the cluster and its current and future technologies".
Keren Leshem, Head of BioLight's Ophthalmic Cluster said, "I'm excited to be able to take this promising technology further along the development path into human trials.
Thomas van Haarlem, M.D., President and Chief Executive Officer of Aerie Pharmaceuticals, commented, "We are pleased to collaborate with Biolight and ViSci through our affiliate, Novaer LLC, to enable first clinical testing of our Eye-DTM technology. This controlled-release drug delivery technology was discovered by Aerie's scientists and has achieved pre-clinical proof-of-concept for long term reduction of intraocular pressure."
About Biolight Life Science Investments Ltd.
BioLight Israeli Life Sciences Investments Ltd., a public company traded in the Tel Aviv Stock Exchange (TASE), is a unique Biomedical firm engaged in the management and commercialization of Biomed innovation by introducing a new approach of value creation through knowledge synergies.
The company creates value by forming clusters of companies around defined medical conditions which enable knowledge synergies thus enhancing innovation in research and commercial realization. At present, BioLight's portfolio includes 10 technologies divided into two disease-oriented clusters one of which focuses on cancer diagnostics and the other cluster focused on glaucoma & Dry Eye syndrome.
For more information please visit the Company's website at www.bio-light.co.il
ViSci Ltd. Keren Leshem +972 54 4564999