Laser Eye Treatment Developer Belkin Vision Acquired

Recently, Swiss-American pharmaceutical and medical device giant, Alcon Pharmaceuticals, is in the process of acquiring Israeli medtech company Belkin Vision, according to a report filed by BioLight with the Tel Aviv Stock Exchange.
BioLight will reportedly sell its stake (4%) in Belkin Vision, which could be worth up to $330 million based on milestones established in the deal.
Belkin Vision has developed a non-contact, automated glaucoma laser treatment that is universally available to all ophthalmologists.Belkin Vision's Eagle laser treatment solution is currently available in the EU and UK. It also received FDA approval last December.
The company was founded in 2013 and has raised about $45 million to date, including funding from the EU and the Israel Innovation Authority. Glaucoma is the leading cause of blindness for 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 with a current market capitalization of more than $38 billion.
BioLight reports that all Belkin Vision shares will be transferred to a wholly owned subsidiary of Alcon, and upon completion of the transaction, BioLight will receive $9 million in cash immediately and up to an additional $10.8 million in compensation based on the achievement of milestones (sales targets).
As of the end of 2023, BioLight's stake in Belkin Vision is valued at 3.6 million shekels (approximately $970,000). Completion of the transaction is subject to the fulfillment of several conditions, with a deadline of 120 days from the signing of the agreement.