|Hong Kong’s Rock-One invests in Bio-Light|
Bio-Light Israeli Life Sciences Investments Ltd, which invests in, manages and commercialises biomedical innovations in ophthalmology and cancer diagnostics, announced last month that it had entered into a strategic partnership with Hong Kongbased Rock-One International Holdings Ltd. The holding company specialises in investment activities, including in the high-tech and biomedical industries.
The agreement will help BioLight maximise its presence within the Chinese market, the second largest healthcare market in the world after the US.
Under the agreement, BioLight will issue a private placement of ordinary shares to Rock-One, which will account for approximately 19% of BioLight’s issued and outstanding shares following the private placement. Rock-One’s equity investment will total approximately US$6.2 million, a 12% premium over the average closing price of BioLight shares in the 30-days prior to the signing of the investment agreement.
The parties will also form a Joint Venture (JV). The newly formed JV will be fully financed by Rock-One, will be granted exclusive manufacturing rights for BioLight’s products distributed within China and will also promote collaboration between Chinese and Israeli academies to develop future products.
“We are excited to enter into this strategic partnership with Rock-One. They have built an impressive manufacturing, distribution and sales presence in China that will enable BioLight to maximise sales of our products in the world’s second -largest economy,” said BioLight CEO Susana Nahum Zilberberg,Please login or register to see the full article