Alcon acquiring glaucoma laser therapy developer Belkin Vision for up to $330 million
Alcon acquiring glaucoma laser therapy developer Belkin Vision for up to $330 million
Belkin Vision has developed a non-contact automated glaucoma laser therapy accessible to all ophthalmologists
Alcon Pharmaceuticals is acquiring the Israeli healthtech company Belkin Vision, according to a report filed by BioLight to the Tel Aviv Stock Exchange. According to the report, BioLight is selling its shares in Belkin Vision (4%), for an amount that reflects a value of up to $330 million for the company - in accordance with the milestones established in the transaction.
Belkin Vision has developed a non-contact automated glaucoma laser therapy accessible to all ophthalmologists. The Belkin Vision Eagle is currently available for sale in the EU and the UK. It also received FDA clearance last December.
The company, founded in 2013, has raised about $45 million to date, including grants from the European Union and the Israel Innovation Authority. Glaucoma is the leading cause of blindness affecting 70 million people worldwide, with more than 3.6 million patients diagnosed in the U.S. alone.
Alcon is a Swiss-American pharmaceutical and medical device company which is currently traded at a market cap of over $38 billion.
BioLight’s report noted that all Belkin shares will be transferred to a wholly-owned subsidiary of Alcon, with BioLight to receive $9 million in cash immediately upon completion of the transaction, and an additional future compensation of up to $10.8 million, depending on meeting milestones (sales goals).
BioLight's holding in Belkin was valued at NIS 3.6 million (approximately $970,000) at the end of 2023. Several conditions need to be met for the transaction to be completed, with the deadline being 120 days from the signing of the agreement.
