Alcon will make an immediate payment of $81 million and a further $385 million in milestone payments, according to the product's success on the market. The share price of Israeli ophthalmology investment firm BioLight Life Sciences (TASE: BOLT) rose 2% today after Israeli glaucoma treatment company Belkin Vision , in which it holds a 4% stake, announced that it had completed its sale to Swiss-American ophthalmology company Alcon (SWX: ALC). RELATED ARTICLES Alcon to buy Israeli glaucoma treatment co Belkin Vision BioLight reported on the deal in May and since then its share price has risen 40% and it currently has a market cap of NIS 22 million.
Alcon is acquiring Belkin Vision, which has developed laser-based technology for glaucoma treatment for up to $466 million, including an immediate payment of $81 million and a further $385 million in milestone payments according to the product's success on the market. BioLight will receive NIS 8.9 million cash immediately and payments of up to $10.
8 million if Belkin Vision achieves all its milestones - in other words an amount significantly higher than BioLight's overall value. Prior to the announcement of Belkin Vision's acquisition, Biolight had booked the value of its stake at just NIS 3.6 million.
US marketing approval Last December, Belkin Vision received FDA marketing approval in the US for its laser-based device for treating glaucoma. The company was founded in 2013 as Belkin Laser to develop a non-contact laser treatment that.
