chanelink logo
CHANELINK
English

330 million US dollars! This laser ophthalmic treatment developer has been acquired

988
2024-05-06 16:11:26
See translation

Recently, according to a report submitted by BioLight to the Tel Aviv Stock Exchange, Swiss American pharmaceutical and medical device giant Alcon Pharmaceuticals is acquiring Israeli medical technology company Belkin Vision.

It is reported that BioLight will sell its 4% stake in Belkin Vision, which may be worth up to $330 million based on the milestones established in the transaction.

Belkin Vision has developed a non-contact automatic glaucoma laser treatment method that can be widely used by all ophthalmologists. The Eagle laser treatment program under Belkin Vision is currently available for sale in the European Union and the United Kingdom. Last December, it also received FDA approval.

The company was founded in 2013 and has raised approximately $45 million so far, including funding from the European Union and the Israel Innovation Authority. Glaucoma is the main cause of blindness in 70 million people worldwide, with over 3.6 million patients diagnosed with glaucoma in the United States alone.

Alcon is a Swiss American pharmaceutical and medical device company with a current market value of over 38 billion US dollars.
BioLight's report states that all shares of Belkin Vision will be transferred to a wholly-owned subsidiary of Alcon, and upon completion of the transaction, BioLight will immediately receive $9 million in cash and additional compensation of up to $10.8 million based on achieving the milestone (sales target).

As of the end of 2023, BioLight's shareholding value in Belkin Vision was 3.6 million shekels (approximately $970000). There are several conditions that need to be met to complete the transaction, and the deadline is 120 days after the agreement is signed.

Source: OFweek

Related Recommendations

  • Scientists have successfully miniaturized erbium-based erbium lasers on silicon nitride photonic chips

    Scientists from the Federal Institute of Technology in Lausanne (EPFL) have successfully miniaturized a powerful erbium-based erbium laser on silicon nitride photonic chips. Due to the large volume and difficulty in shrinking of typical erbium-based fiber lasers, this breakthrough is expected to make significant progress in optical communication and sensing technology.Since the 1960s, lasers have ...

    2024-06-13
    See translation

  • MICRONICS launches its innovative SLS 3D printer product

    3D printing company Micronics announced the launch of its new Micron desktop selective laser sintering (SLS) 3D printer.The company stated that Micron is priced at $2999 and aims to bring industrial grade 3D printing capabilities to desktops for professionals and hobbyists. One of the main features of Micron is its ability to print complex objects without the need for supporting structures. This i...

    2024-06-17
    See translation

  • Innovating Photonics: Lithium Tantalate Provides Power for the Next Generation of Optoelectronic Circuits

    The new photonic integrated circuit technology based on lithium tantalate has improved cost efficiency and scalability, making significant progress in the fields of optical communication and computing.The rapid development of photonic integrated circuits (PICs) has revolutionized optical communication and computing systems, combining multiple optical devices and functions on a single chip.For deca...

    2024-05-14
    See translation

  • High Power Laser Assists Scientists in Discovering a New Stage of High Density and Ultra High Temperature Ice

    As is well known, the outer planets of our solar system, Uranus and Neptune, are gas giants rich in water. The extreme pressure on these planets is 2 million times that of the Earth's atmosphere. Their interiors are also as hot as the surface of the sun. Under these conditions, water exhibits a strange high-density ice phase.Researchers have recently observed one of the stages, called Ice XIX, whi...

    2023-10-11
    See translation

  • Observation of nanoscale behavior of light driven polymers using combination microscopy technology

    Expanding our scientific understanding often boils down to observing what is happening as closely as possible. Now, researchers from Japan have observed the nanoscale behavior of azo polymer films and triggered them with lasers.In a study published in Nano Express last month, researchers at Osaka University used a combination of cutting-edge scanning high-speed atomic force microscopy and optical ...

    2024-03-12
    See translation