The financing will help IOPtima to continue the global commercialization of its innovative IOPtimate™ system used in the treatment of glaucoma, as well as to initiate a regulatory approval pathway process for the IOPtimate™ system with the U.S. Food and Drug Administration, commencing 2016.

Under the terms of the agreement, the New Investors and BioLight will invest an aggregate amount of US$6.0 million and US$1.2 million, respectively. The investments are being made on the basis of a US$13.5 million pre-money valuation for IOPtima.

Upon completion of the private placement, BioLight will hold approximately 71% of IOPtima’s issued and outstanding shares. The Agreement also stipulates that the New Investors will have the right to trigger a "drag along mechanism" and other protective provisions if IOPtima fails to reach certain pre-stipulated revenue and regulatory milestones. The private placement is expected to close within the next few weeks, subject to standard closing terms.

IOPtima is a developer of minimally invasive surgical ophthalmic devices. The company’s flagship product, IOPtiMateTM, 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.

The IOPtiMate procedure provides high efficacy and allows for substantial reductions in post-operative complications and use of eye drops compared with alternatives. Recent marketing efforts by IOPtima have resulted in first sales of IOPtiMate™ in Hong Kong, Poland, Hungary, Romania and Peru, with distribution agreements also being negotiated in additional countries.

"We are excited to have signed this IOPtima financing deal, which will allow us to secure the financial resources needed to maximize IOPtima™’s commercial potential," commented BioLight’s Chief Executive Officer, Suzana Nahum Zilberberg.