BioLight announced today an agreement to enter into a strategic partnership with Rock-One International Holdings Ltd., a holding company specializing in investment activities, including in the high tech and biomedical industries. The agreement will help BioLight maximize its presence within the Chinese market, the second largest healthcare market in the world after the U.S.
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 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 within China. The JV will also promote collaboration between Chinese and Israeli academies to develop future products.Link to Newsroom