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Belkin Vision Acquired by Eye Care Leader Alcon Pharmaceuticals Ltd. for Nearly Half a Billion Dollars
ARC Innovation at Sheba Medical Center, has announced another successful startup exit from within its innovation ecosystem with the acquisition of Belkin Vision by Alcon Pharmaceuticals Ltd. for $466 million dollars.
Belkin Vision, an Israeli startup, established under ARC Innovation in collaboration with Ramot, the technology transfer company of Tel Aviv University. ARC (Accelerate, Redesign, and Collaboration) aims to integrate groundbreaking tech in global health through international collaborations and structured access to innovation, focusing on digital health.
Founded in 2013 by Professor Michael Belkin from Tel Aviv University’s Eye Research Institute at Sheba Medical Center and Daria Lemann Blumenthal, who serves as the CEO, Belkin Vision developed the Eagle device. This automatic, non-contact laser treatment for glaucoma, one of the leading causes of blindness affecting about 70 million patients worldwide, received FDA approval in December.
Alcon, the global leader in eye care technology with annual sales of around $10 billion dollars, will integrate Belkin Vision into its portfolio. Belkin Vision joins other successful ARC innovation network companies like Endoways and BurnAlong, which have also achieved notable exits recently.
“The acquisition of Belkin Vision exemplifies the resilience and vitality of the Israeli high-tech and startup sectors. This initiative is the result of a profound collaboration between Tel Aviv University and ARC Innovation Center at Sheba,” said Prof. Eyal Zimlichman, Founder and Director of ARC Innovation and Chief Transformation and Innovation Officer at Sheba Medical Center. “It highlights the synergy between technological innovation, Israeli entrepreneurship, and clinicians at the patient’s bedside, which combine to drive improved medical care, benefitting patients globally and generating investor profits
“We congratulate the management of Belkin Vision, led by CEO Daria Lemann-Blumenthal, for achieving international success despite the challenges of our time. The company is forging the path towards groundbreaking advancements in vision preservation,” said Avner Halperin, CEO of Sheba Impact, Sheba Medical Center’s entrepreneurship and commercialization arm. “The Belkin Vision team has grown the company in close collaboration with Sheba’s teams, creating life-changing solutions for all of humanity.”
The acquisition agreement between Belkin Vision and Alcon was signed in early May 2024, and shortly thereafter, BioLight, one of Belkin Vision’s shareholders, reported the deal to the Tel Aviv Stock Exchange. The acquisition was completed on July 1, 2024.
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