Menorah-Mivtachim buys into Biolight

Biolight Ltd. said Tuesday that Menorah-Mivtachim Holdings had purchased 5 million shares, or 13 percent, of the company for NIS 20 million.

By MATTHEW KRIEGER
March 7, 2007 07:07

 
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Biolight Ltd. said Tuesday that Menorah-Mivtachim Holdings had purchased 5 million shares, or 13 percent, of the company for NIS 20 million. With the purchase, Menorah-Mivtachim, a securities and insurance firm, became the principal shareholder of Biolight, surpassing Prisma Investment House, which still owns about 10% of the company. Biolight, a life-sciences investment company, has four subsidiaries including Ioptima, which is designing glaucoma treatments using laser-based technology, and Obecure, which is developing drugs to help battle weight control.

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