Wize Pharma raises $1.14 Million

Wize Pharma, a clinical-stage biopharmaceutical, Israeli company currently focused on the treatment of ophthalmic disorders.

The company announced it has received notices from existing stockholders and lenders to exercise investment rights and warrants to purchase an aggregate of 18,927,781 shares of common stock.

The total proceeds to Wize from the exercise are expected to be approximately $1.14 million.

Wize expects that it shall receive the aggregate exercise price and issue the underlying shares of common stock in the coming weeks.

"We welcome the exercise of these investment rights and warrants at this time from current stockholders and lenders. A portion of the proceeds will be used to help fund our clinical studies that are evaluating the efficacy of LO2A in the treatment of dry eye syndrome in people with Sjögren's syndrome and conjunctivochalasis (CCh)," stated Wize's Chairman, Ron Mayron.

"Wize is moving LO2A forward on both the clinical and commercial fronts, as we anticipate sales of LO2A for dry eye syndrome to launch in Israel and Ukraine in 2018." He stated further.

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