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BioLight Announces Strategic Partnership to Expand Presence in China

Apr. 2, 2015

On April 2, 2015 BioLight and Rock-One International Holdings Ltd announced their strategic partnership. Rock-One is a holding company specializing in investment activities, including in the high tech and biomedical industries. The agreement will help BioLight maximize its presence in the Chinese market.

Under the terms of the agreement, BioLight will issue a private placement of ordinary shares to Rock-One, which will account for approximately 19% of BioLight’s issued capital for approximately $6.2 million.

As part of the strategic partnership, the parties will also form a joint venture. The newly formed JV will be fully financed by Rock-One and granted exclusive manufacturing rights for BioLight’s products distributed in China. The JV will also promote collaboration between Chinese and Israeli academies to develop future products.