|By PR Newswire||
|February 10, 2014 09:09 AM EST||
TEL AVIV, Israel, Feb. 10, 2014 /PRNewswire/ -- BioLight Life Sciences Investments Ltd. (OTC: BLGTY, TASE: BOLT), a firm that invests in, manages and commercializes biomedical innovations grouped into clusters around defined medical conditions, announced today that DiagnosTear Ltd. has received all necessary approvals from Sheba Medical Center near Tel Aviv to begin a clinical study with its TeaRx, point-of-care Dry Eye Syndrome diagnostic assay. DiagnosTear is part of BioLight's XLVision Sciences ophthalmology cluster.
The purpose of the study is to validate the effectiveness of the test methods developed by DiagnosTear in the tears of healthy subjects as well as patients with Dry Eye Syndrome.
Suzana Nahum-Zilberberg, BioLight's CEO, said, "The beginning of DiagnosTear clinical study is an additional development milestone in one of the most promising projects in our XLVision Sciences cluster. About 100 million people worldwide suffer from Dry Eye Syndrome and many more suffer from similar symptoms. A significant improvement in the diagnosis of the Syndrome is needed and DiagnosTear provides a very promising assay that assists physicians in diagnosing the Syndrome, selecting the right treatments and monitoring progress."
Ms. Nahum-Zilberberg added, "A market analysis performed among U.S. ophthalmologists shows that the assay DiagnosTear develops as a multi-parameter, cost-effective and easy-to-use solution is designed to meet those needs. This clinical study, which we expect will start in the coming days, is another significant step in the development process. We note that this diagnostic assay has stimulated strong interest among leading ophthalmic companies and key opinion leaders worldwide."
DiagnosTear is preparing to add another center in Israel to the clinical study soon and expects to report its results in the fourth quarter of 2014.
About Dry Eye Syndrome
Dry Eye Syndrome is a physiological condition that occurs mainly due to changes in the composition of or reduction in the secretion of tears. Although this condition is not life threatening, it causes a great deal of discomfort and has a detrimental effect on quality of life. A change in any of the multiple parameters in the tear film could indicate a problem that might cause the Syndrome. Among the parameters are the amount of fluid, the proteins, osmolarity, mucins and others.
According to Market Scope there are about 100 million people living with the condition worldwide with various degrees of severity, of which 25 million to 30 million are in the U.S. This number rises every year, and is possibly due to environmental factors such as the use of air conditioners, personal computers and contact lenses.
DiagnosTear is a private company, 70% owned by XLVision Sciences, that is developing an innovative assay enabling diagnosis, treatment and monitoring of Dry Eye Syndrome by examining certain parameters in tear fluid. The company's TeaRx assay is based on various reagents that create color reactions when coming in contact with tear film, which allows for the semi-quantitative assessment of the parameters that define the Syndrome. Information on the parameters assists in the diagnosis of the Syndrome, and enables better selection of the proper treatment and monitoring.
BioLight 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.
For more information please visit the Company's website at www.bio-light.co.il
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 ([email protected])