BioLight Life Sciences Investments, a firm that invests in, manages and commercializes biomedical innovations in ophthalmology and cancer diagnostics, announced the signing of an exclusive distribution agreement for the sale and marketing of the IOPtiMate system in Hong Kong and Macao, including the purchase of at least 9 systems during the initial term of the agreement.
The IOPtiMate system is based on CO2 laser technology that enables the performance of a unique filtration surgery to treat glaucoma without penetrating the inner part of the eyeball, allowing for substantial reductions in post-operative complications and use of eye drops compared with alternatives.
A leading medical center in Hong Kong recently purchased the IOPtiMate system and an additional IOPtiMate system has been installed on a trial basis at a second medical center in Hong Kong. BioLight recently began marketing to leading physicians and medical centers in China after receiving approval in March 2014 from the China Food and Drug Administration (CFDA) to market and sell the IOPtiMate system.
This distribution agreement in Hong Kong and Macao, along with the distributer commitment to purchase at least 9 IOPtiMate systems, is the result of an intensive marketing campaign by BioLight in Asia for the IOPtiMate system as part of the Company’s focus on markets with unmet needs for better solutions to treat glaucoma.
Suzana Nahum-Zilberberg, BioLight’s chief executive officer, said, "Entering into a strategic distribution agreement in Hong Kong and Macao is an additional significant advancement in our plan to penetrate developing markets in Asia, where there is no available solution for a large population of patients."