BioLight to partner with Ichilov Medical Center to develop innovative ophthalmology technologies

BioLight Life Sciences, which is involved with investments and commercializing ophthalmology products, published its financial results for the third quarter on Monday. The company is continuing to become more efficient, and is reporting a decrease in its operational costs which were marked at NIS 2.3 million ($729,000) compared to NIS 2.7 million ($855,000) during the corresponding quarter.

In addition, as part of expanding its portfolio in companies that develop technologies in the field of ophthalmology, BioLight has announced it will be partnering with Ichilov Medical Center, to locate and develop innovative technologies in ophthalmology. According to the terms of the agreement, BioLight will retain the primary right to license technologies developed at Ichilov. This will grant BioLight the ability to expand its offering and variety of products by investing through the early stages, and create synergy between the companies in its portfolio.

“BioLight is working constantly to expand its offering of technologies and products, through extending the operations of its investment arm, and by investing in new and promising companies," said BioLight CEO Yaakov Michlin. “This partnership with Ichilov Medical Center is part of the embodiment of that, and holds significant potential for identifying innovative projects. The combination of BioLight’s experience, knowledge, and connections with Ichilov's technological innovation strengthens our position as a leading company in the field of ophthalmology in Israel, and as a company with a strong and diverse portfolio.”