newsfilter
← Latest News
GlobeNewswire·

BiomX Obtains Option to Acquire Control of Israeli Laser-Radar Counter-Drone System

PHGE
  • BiomX Inc. (NYSE: PHGE) entered an option agreement to acquire control of DFSL, a developer of LADAR-based detection systems for security, defense, and critical infrastructure.
  • DFSL's technology combines laser sensing with proprietary AI algorithms to detect UAVs and ground intruders while distinguishing real threats from background activity.
  • The company plans to exercise the option subject to closing conditions, shareholder approval, and a mix of cash, promissory notes, stock, and warrants.
  • A third party has agreed to provide a credit line to facilitate operations and expansion across different geographies.
  • This transaction marks BiomX's pivot into security, defense, and first-response markets, targeting a global counter-drone market projected to exceed $14 billion by 2030.
  • DFSL's platform reduces false alarms caused by environmental factors through real-time data processing within the sensor, achieving approximately 99% accuracy in deployments.
  • Founded in 1995 by Dr. Yaacov Frucht, DFSL utilizes defense-originated laser radar technology adapted for civilian use in counter-UAS, perimeter security, surveillance, and rail safety.
  • The technology has been deployed in military operations in Israel and Africa, as well as in the Los Angeles Metro system.
  • DFSL's portfolio includes patents on hardware and signal processing, with support from the Israel Innovation Authority and European Union security programs.
  • CEO Michael Oster stated the deal positions BiomX to address growing demand for infrastructure protection and counter-drone solutions.
  • Consideration for the transaction includes a convertible note and warrants exercisable at $12 per share, subject to Israeli regulatory approval.
  • BiomX intends to file a Form 8-K with the SEC containing additional transaction details.