Bio-Light Israeli Life Sciences Investments Ltd. (TASE:BOLT) portfolio company IOptima Ltd. has obtained EU CE Mark certification for its OT-134 non-invasive laser glaucoma treatment.
In contrast to US Food and Drug Administration (FDA) approval, CE Mark certification only relates to a product's safety, but not necessarily to its efficiency. Product safety certification is critical for IOptima, given the scary nature of its therapy - laser beams that reduce the internal eye pressure, even though it does not penetrate the eye membrane. The company will soon begin marketing the OT-134 in Europe.
Several Bio-Light portfolio companies have already obtained CE Mark certification for their products, but most of the companies have not gone forward with commercialization.
Trading in Bio-Light's share was suspended this morning ahead of the announcement, after rising 7% at the opening. Bio-Light COO Richard Namir said, "The TASE encourages companies, especially small-cap companies like biomedical firms, to consult with it before publishing important announcements."
Bio-Light's share rose 21.6% by mid-afternoon, after trading was resumed, to NIS 1.46.
Published by Globes [online], Israel business news - www.globes-online.com - on August 9, 2009
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