The Swiss-American ophthalmology company will pay $60 million immediately and up to $335 million with milestone payments to the company, BioLight reports.
Swiss-American ophthalmology company Alcon (SWX: ALC) is acquiring an Israeli glaucoma treatment company Belkin's vision With an amount of up to $335 million.
The acquisition was reported by an Israeli ophthalmology investment firm Bio-industries (TASE: BOLT), which has notified the Tel Aviv Stock Exchange (TASE) that it will receive an immediate payment of NIS 9 million and additional payments of up to $10.5 million for its 4% stake in the company.
From these numbers it can be calculated that Alcon is making an immediate payment of $60 million to Belkin Vision and milestone payments that would bring the total acquisition to $335 million. BioLight, which booked the value of its stake in Belkin Vision at just NIS 3.6 million, saw its share price rise by 32.6% today.
Belkin Vision has developed a laser treatment for glaucoma. Last December, the Yavnei-based company received FDA approval to market its laser device in the United States. The company was founded in 2013 as Belkin Laser by ophthalmologist Professor Michael Belkin to develop a more effective and accessible non-contact laser treatment in the treatment of glaucoma.
In February 2024, Belkin Vision raised $12.3 million, bringing the total amount raised by the company to $40 million. The company also received a $17.5 million grant from the European Union.
The company is headed by CEO Daria Lehmann Blumenthal, while Professor Belkin serves as Medical Director.
Published by Globes, Israel Business News – en.globes.co.il – on May 5, 2024.
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