Bio-Light Israeli Life Sciences Investments Ltd. (TASE:BOLT) portfolio company IOptima Ltd. has signed an agreement in principle to cooperate with India's Care Group subsidiary Intraocular Care pvt Ltd.
The deal includes several operations and clinical previews of procedures using IOptima's OT134 laser device and procedure for glaucoma, followed by a pay-per-use pilot. The two companies will share the proceeds in equal shares. Minimum proceeds are set at $1 million in 2010, and will increase by 15% a year thereafter.
A third stage sets Intraocular Care as an exclusive distributor and sets marketing collaboration with IOptima.
If annual sales exceed $1.5 million, the proceeds distribution will change to 60% for Intraocular Care and 40% for IOptima.
Care Group manufactures a wide range of ocular lenses, and is a distributor of ophthalmologic equipment to hospitals and other customers across the subcontinent.
Bio-Light's share jumped 15.2% at the opening on the TASE to NIS 1.32.
Published by Globes [online], Israel business news - www.globes-online.com - on May 31, 2009
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