chanelink logo
CHANELINK
English

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

708
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

  • Osram has received over 300 million euros in German investment to develop next-generation optoelectronic semiconductor technology

    Recently, ams Osram, a developer of smart sensors and transmitters, announced that it expects to receive over 300 million euros in funding from the German Federal Government and the Free State of Bavaria over the next five years.This funding is aimed at promoting Osram's development of the next generation optoelectronic semiconductor technology in Regensburg, Germany. The IPCEI funding in this bat...

    2023-09-25
    See translation

  • Advancing Astronomy: Using Laser Guided Star Adaptive Optics to Obtain clearer celestial views

    Adaptive optics is defined as an advanced optical system used to correct the transmission medium between the subject and the image, providing users with clearer images. Adaptive optics helps to use a complex combination of deformable mirrors to correct images in real-time through distortion in the Earth's atmosphere. These images are of greater importance in many vertical industries such as health...

    2024-02-22
    See translation

  • An innovative technology that can make light "bend"

    A research team from the University of Glasgow in the UK drew inspiration from the phenomenon of clouds scattering sunlight and developed an innovative technology that can effectively guide or even "bend" light. This technology is expected to achieve significant breakthroughs in fields such as medical imaging, cooling systems, and even nuclear reactors. The relevant research results were published...

    2024-11-11
    See translation

  • Breakthrough! Extending the lifespan of solar panels to 50 years using lasers

    Recently, the National Renewable Energy Laboratory (NREL) under the US Department of Energy has made a revolutionary breakthrough by developing a concept validation method aimed at completely removing polymers from solar panel manufacturing, thereby achieving more efficient and environmentally friendly recycling.Solar panels have always been praised for their recyclability. However, the thin plast...

    2024-04-30
    See translation

  • 2Pi Optics has launched a new type of fisheye camera based on its so-called metasurface optics

    2Pi Optics has launched a new type of fisheye camera based on its so-called metasurface optics.The company plans to showcase this technology at the large-scale technology trade show CES 2024 in Las Vegas next week.This company, headquartered in Cambridge, Massachusetts, stated that it has created the world's leading high-resolution fisheye sensor based on optical superlens technology. This technol...

    2024-01-05
    See translation