DiagnosTear Ltd. – Grant Approval by the Chief Scientist

BioLight hereby respectfully announces, that on October 10, 2013, the subsidiary Diagnostear Ltd, in which the company holds 70% of the issued and outstanding share capital (1), notified Diagnostear that it received approval for a grant from the Office of the Chief Scientist for a project concerning the development of a stick intended for the diagnosis and monitoring of treatment of dry eye syndrome.

According to the approval, the participation will be at a scope of 40% of a NIS 1,693,590 budget. Royalties shall be paid out of the revenues of Diagnostear from sales of a diagnostic kit for the dry eye syndrome, if any, as detailed in the approval.

The approval is subject to several undertakings, restrictions and conditions precedent, including recognition of expenses, pursuant to the rules of the Chief Scientist.

(1) Through the subsidiary X L Vision Sciences Ltd., in which the Company holds the entire issued and outstanding share capital.
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