1 The EIC Accelerator Project
The EIC Accelerator program, part of the European Innovation Council (EIC), is designed to support innovative startups and small and medium-sized enterprises (SMEs) with high growth potential, particularly in the DeepTech sector. This initiative aims to bridge the gap between research and market by providing financial and non-financial support to help companies scale their operations and bring groundbreaking technologies to market.Funding Structure
The EIC Accelerator offers a unique funding structure that combines grant and equity financing, often referred to as blended finance. The grant component can provide up to €2.5 million, aimed primarily at covering the costs associated with innovation activities, including prototyping, testing, and scaling. This grant is non-repayable and is intended to support the development of products or services that demonstrate technological innovation and market potential.
In addition to the grant, the EIC Accelerator also provides equity financing, which can reach up to €15 million until 2024. From 2025, this equity limit will be reduced to €10 million. The equity funding is designed to help companies secure necessary capital for scaling their operations and advancing their market reach. This dual-funding approach allows innovators to leverage public funding while also attracting private investments, thereby minimizing risks associated with early-stage ventures.
Purpose and Impact
The primary purpose of the EIC Accelerator is to enhance the competitiveness of European startups and SMEs in the global market. By focusing on DeepTech companies—those leveraging advanced technologies in fields such as biotechnology, artificial intelligence, and advanced manufacturing—the program aims to foster innovation that can lead to sustainable economic growth and job creation.
The EIC Accelerator plays a crucial role in helping companies secure additional funding from private sectors. It acts as a stamp of approval, signaling to investors that a startup has been rigorously vetted and deemed to possess significant potential. This validation can enhance investor confidence and facilitate access to further funding, which is often necessary for scaling operations and achieving market penetration.
EIC Accelerator Winner: Belkin Laser Ltd
Belkin Laser Ltd, an Israeli company, emerged as a winner of the EIC Accelerator with its project titled EyeAccess, focused on Direct Selective Laser Trabeculoplasty (DSLT). This project aims to revolutionize glaucoma care by providing accessible and efficient treatment options.
Project Overview: EyeAccess
The EyeAccess project centers around the development of a novel technology for treating glaucoma, a condition that affects millions of people worldwide. Glaucoma is characterized by increased intraocular pressure, which can lead to irreversible vision loss if not adequately managed. Traditional treatment methods often involve daily medication and invasive surgical procedures, making them less accessible for many patients.
Direct Selective Laser Trabeculoplasty (DSLT) is a pioneering approach that offers a non-invasive treatment alternative. The technology employs laser energy to selectively target the trabecular meshwork, the part of the eye responsible for draining fluid and regulating intraocular pressure. This method aims to lower intraocular pressure quickly and effectively, allowing for immediate relief and reducing the need for ongoing medication.
Technology Basics and Background
The technology underpinning EyeAccess is grounded in advanced laser systems that utilize specific wavelengths to interact with biological tissues. By selectively targeting the trabecular meshwork, DSLT minimizes damage to surrounding tissues, resulting in fewer side effects and complications compared to traditional surgical methods.
The accessibility of DSLT is another significant advantage, as it can be performed in a clinical setting without the need for extensive pre-operative preparations or post-operative care. This approach not only streamlines the treatment process but also enhances patient compliance, as it reduces the burden of ongoing medication management.
Belkin Laser Ltd's innovative solution has the potential to transform glaucoma care, making it more efficient and accessible to patients globally. By securing funding through the EIC Accelerator, the company is poised to further develop and commercialize its technology, ultimately improving health outcomes for individuals suffering from this debilitating condition.
In conclusion, the EIC Accelerator program represents a vital component of the European innovation ecosystem, providing essential support to startups like Belkin Laser Ltd. Through its blended finance model, the program facilitates the growth of groundbreaking technologies that have the potential to significantly impact health care and other industries.
2 The Funding Rounds
BELKIN LASER LTD (Israel): Financing, Funding Rounds, Investors, and Exit Events Since EIC Accelerator Win
Financing Raised & Funding Rounds
BELKIN Laser Ltd., an Israeli medical device company specializing in non-invasive glaucoma laser treatments, has successfully raised a total of approximately $17.25 million over five funding rounds since its founding. The significant funding events include both equity and grant financing:
- Series A Round: Closed in April 2017, raising $2.5 million.
- Series B Round: Closed on July 20, 2020, raising $12.25 million.
- Additional early-stage grants and convertible debt contributed to the overall funding total.
Timing and Amount of Funding Rounds
| Date | Round | Amount Raised | Notable Investors |
|---|---|---|---|
| Apr 2017 | Series A | $2.5M | Zicom Holdings (Singapore), Rimonci Capital |
| Jul 20, 2020 | Series B | $12.25M | CR-CP Life Science Fund (lead), Santen Ventures (co-lead), BioLight Life Sciences, C-Mer Eye Care Holdings, Rimonci Capital |
Additional non-dilutive grants include support from the Israel Innovation Authority’s incubator program at RAD Biomed Accelerator and a €3M Horizon 2020 grant from the European Union.
Investor Information
The main investors across BELKIN Laser's rounds include:
- CR-CP Life Science Fund
- Santen Ventures
- BioLight Life Sciences
- C-Mer Eye Care Holdings
- Rimonci Capital
- Zicom Holdings
Earlier seed/convertible rounds also saw investment from Israel’s Chief Scientist Office (now Israel Innovation Authority) and private individuals such as Gur Muntzer.
Company Valuations
Specific post-money valuations for individual rounds are not publicly disclosed in available sources; only aggregate amounts raised are reported. There is no concrete valuation data provided within public filings or news releases.
Exit Events: Acquisition by Alcon
A major exit event for BELKIN Laser occurred on July 1st, 2024:
Alcon—a global leader in eye care—completed its acquisition of BELKIN Vision for a total upfront consideration of $81 million (including a cash payment of approximately $65 million). The agreement also includes up to $385 million in potential milestone payments contingent upon future sales performance.
This acquisition brings BELKIN Vision’s Direct Selective Laser Trabeculoplasty (DSLT) technology under Alcon's expanding glaucoma portfolio.
There have been no IPOs or other public listing events reported prior to this acquisition.
Sources
- BELKIN Laser Finalizes Series B Funding Totalling $12.25M
- CR‑CP Life Science Fund Leads BELKIN Laser's US$12.25 Million Financing
- BELKIN Vision Financials - Startup Nation Finder
- CB Insights – Belkin Laser Financials
- Belkin grabs onto $12.3m – Global Corporate Venturing
-Alcon Completes Acquisition of BELKIN Vision — Press Release
3 The Press Releases
Overview of Belkin Laser LTD
Belkin Laser LTD, an Israeli company, was a recipient of the EIC Accelerator funding in October 2021. The company has been involved in developing innovative laser treatments for glaucoma, a leading cause of blindness worldwide.
Corporate Developments and Name Change
In July 2021, Belkin Laser announced a corporate name change to Belkin Vision. This strategic move aimed to better reflect the company's capabilities in addressing future ophthalmic challenges.
Technology and Innovations
Belkin Vision has developed the Direct Selective Laser Trabeculoplasty (DSLT) technology, a non-contact laser treatment for glaucoma. DSLT is designed to be a simple and user-friendly first-line therapy, capable of performing selective laser trabeculoplasty (SLT) in a short duration, potentially replacing early-stage eye-drop treatments. The device incorporates proprietary eye-tracking technology to ensure accurate treatment delivery without the need for manual aiming or a gonio lens.
Acquisitions and Partnerships
In July 2024, Alcon, a global leader in eye care, completed the acquisition of Belkin Vision. The deal included a total upfront consideration of $81 million and potential additional payments of up to $385 million contingent on sales-based milestones. This acquisition expands Alcon's glaucoma portfolio, including DSLT technology, which complements their existing offerings such as implantables and pharmaceutical drops.
Funding and Clinical Trials
Belkin Laser has received significant funding to support the commercialization and clinical trials of its DSLT technology. In 2017, the company secured $2.5 million in venture finance, and later it received $12.25 million to support global commercialization efforts. The company completed enrollment of its GLAUrious pivotal trial for glaucoma laser treatment in May 2021.
Press Releases and Updates
While specific press releases from Belkin Laser LTD are not available, the company's updates and achievements have been reported through broader media coverage. Notably, the acquisition by Alcon and the development of DSLT technology have been highlighted as significant advancements in glaucoma treatment.
Website and Social Media
Belkin Laser LTD's website is not directly accessible for press releases or updates. However, its developments and achievements are reported through various news outlets and industry publications.
Conclusion
Belkin Vision (formerly Belkin Laser LTD) has been at the forefront of innovative glaucoma treatments, particularly with its DSLT technology. The acquisition by Alcon underscores the potential of its technology to become a first-line treatment for glaucoma, offering a promising alternative to traditional eye-drop therapies.
Sources:
- Belkin Press Releases
- Alcon Completes Acquisition of BELKIN Vision
- Belkin Laser Announces Corporate Name Change to Belkin Vision
- BELKIN Laser Completes Enrollment of its GLAUrious Pivotal Trial
- Israel's Belkin Laser backed for glaucoma therapy option
- CR-CP Life Science Fund Leads BELKIN Laser's US$12.25 Million Financing
- Alcon completes acquisition of BELKIN Vision
- FDA clears glaucoma laser device from BELKIN Vision
4 The Technology Advancements
Overview of BELKIN Vision
BELKIN Vision, an Israeli company known for its innovative glaucoma treatment technologies, has made significant advancements since receiving funding from the European Innovation Council (EIC) Accelerator in October 2021. This funding supported the development of their cutting-edge Direct Selective Laser Trabeculoplasty (DSLT) technology and the Eagle device, a Q-switched, 532 nm-wavelength, frequency-doubled Nd:YAG laser.
Advancements and Technology Improvements
- Eagle Device: BELKIN Vision's Eagle device is designed for selective laser trabeculoplasty (SLT), offering a non-contact, automated, and non-invasive solution. It automatically defines the target location and applies laser treatment while compensating for eye movement using an eye tracker. This technology is unique as it eliminates the need for a gonioscopy lens, making it more accessible and user-friendly for eye care professionals.
- FDA Clearance: In December 2023, the Eagle device received FDA clearance, marking a significant advancement in glaucoma treatment by offering expanded treatment options for glaucoma patients.
- Acquisition by Alcon: In July 2024, Alcon completed the acquisition of BELKIN Vision, further expanding Alcon's glaucoma portfolio with DSLT technology. This acquisition aims to integrate DSLT into Alcon's Vision Suite ecosystem and broaden access to the technology globally.
Market Demonstration and Clinical Trials
New Patents and Scientific Studies
- Patent Filings: BELKIN Vision has filed patents related to Direct Selective Laser Trabeculoplasty (DSLT), indicating ongoing research and development efforts.
- Scientific Studies and Publications: While specific new scientific studies or whitepapers are not mentioned, the FDA clearance and acquisition by Alcon reflect the company's technological advancements and potential for future publications.
Conclusion
BELKIN Vision's progress since receiving the EIC Accelerator funding has been marked by significant technological advancements, regulatory approvals, and strategic partnerships. The company's innovative approach to glaucoma treatment continues to expand access to effective care for patients worldwide.
Sources: - Alcon Completes Acquisition of BELKIN Vision, Expanding Glaucoma Portfolio
- FDA clears BELKIN Vision's Eagle device for SLT
- FDA clears glaucoma laser device from BELKIN Vision
- FDA clears BELKIN Vision’s Eagle glaucoma laser
- Alcon to acquire Belkin Vision in deal estimated at $335 million
- Alcon's Belkin Acquisition and the Age of Interventional Glaucoma
- Alcon is buying Belkin Vision and its contact-less SLT glaucoma device
- US20210267800A1 - Direct Selective Laser Trabeculoplasty
- BELKIN Vision Receives FDA Clearance for the Eagle Glaucoma Laser
- BELKIN Vision Receives FDA Clearance for the Eagle Glaucoma Laser
5 The Partnerships and Customers
BELKIN Laser Ltd: Partnerships and Developments Post EIC Accelerator Funding
Since receiving the EIC Accelerator funding in October 2021, BELKIN Laser Ltd has focused on advancing its non-invasive glaucoma laser treatment technology. Here's an overview of the company's partnerships and developments:
Partnerships and Funding
- Funding Round: In 2020, BELKIN Laser raised $12.25 million in a Series B funding round co-led by Rimonci Capital and Santen Ventures. Other participants included BioLight Life Sciences, CR-CP Life Science Fund, and C-Mer Eye.
- Partnerships: The company is part of the European consortium GLAUrious, supported by the European Union’s Horizon 2020 research and innovation program, aimed at advancing its technology for glaucoma treatment.
New Developments
- Eagle DSLT Device: BELKIN Laser's most notable development is the Eagle device, a non-contact, automated Direct Selective Laser Trabeculoplasty (DSLT) system. This device offers a novel approach to glaucoma treatment by delivering laser energy directly through the limbus without the need for a gonioscopy lens.
- Regulatory Approvals: The Eagle device received FDA clearance in December 2023, marking a significant milestone in expanding treatment options for glaucoma patients. It also gained CE marking in May 2022.
Market Positioning and Advancements
- Market Positioning: The new relationships and developments position BELKIN Laser Ltd as a leader in innovative glaucoma treatment technologies. The company aims to enhance access to care by enabling more healthcare professionals to perform DSLT procedures.
- Technology Advancements: The funding and partnerships have enabled BELKIN Laser to advance its technology, focusing on non-invasive and automated solutions for glaucoma treatment. This approach helps in reducing intraocular pressure effectively and efficiently.
- Scaling: With the support from investors and regulatory approvals, BELKIN Laser is poised to scale its operations globally, potentially reaching more patients and healthcare providers.
New Partners and Customers
As of the latest information, there are no specific announcements regarding new partners or customers for BELKIN Laser Ltd beyond its existing partnerships. However, the company's technology advancements and regulatory approvals suggest a potential for expanded partnerships and customer base in the future.
Sources: - Alcon Completes Acquisition of BELKIN Vision
- BELKIN Laser Finalizes Series B Funding
- Belkin Laser Raised $12.25 Million
- Alcon to Acquire Belkin Vision
- FDA Clears Glaucoma Laser Device from BELKIN Vision
6 The Hiring and Company Growth
Overview of BELKIN Laser Ltd.
Background and Funding
BELKIN Laser Ltd., based in Israel, is a clinical-stage medical device company that received EIC Accelerator funding in October 2021. The company focuses on developing innovative laser technologies for treating glaucoma, particularly through its Direct Selective Laser Trabeculoplasty (DSLT) device. This technology aims to simplify and enhance the accessibility of glaucoma care by providing a non-invasive, painless procedure.
Current Status and Growth
As of the latest available information, BELKIN Laser Ltd. has a team size of between 11 to 50 people and has raised approximately $13.3 million in funding. In July 2024, Alcon acquired BELKIN Vision for an initial consideration of $81 million, which includes a cash payment of about $65 million, and up to $385 million in milestone payments dependent on sales performance. This acquisition is expected to expand Alcon's glaucoma treatment portfolio and enhance BELKIN's global market presence.
Hiring and Team Expansion
While specific details about current hiring processes or recent key positions filled are not readily available, the acquisition by Alcon might lead to broader integration and expansion of BELKIN's technology and team within Alcon's global operations. The DSLT technology is poised to become a significant part of Alcon's strategy to offer first-line laser treatments for glaucoma, which could necessitate further team growth and hiring in areas such as sales, marketing, and clinical support.
Impact of New Team Members
As BELKIN's technology becomes more integrated into Alcon's operations, new team members will play a crucial role in scaling and growing the company's presence in the global market. They will likely focus on enhancing the DSLT technology, expanding its availability, and ensuring its adoption as a primary treatment for glaucoma. This integration will help bridge the gap between the limited number of ophthalmologists and the large patient population, making glaucoma care more accessible worldwide.
Management and Founding Team
Daria Lemann-Blumenthal, co-founder and former CEO of BELKIN Laser, has been instrumental in driving the company's vision and technology development. Her extensive experience in the eye care industry and leadership roles has contributed significantly to BELKIN's success. Following the acquisition by Alcon, there might be changes in management roles as the company integrates into Alcon's structure.
Future Prospects
The acquisition by Alcon positions BELKIN's DSLT technology at the forefront of glaucoma treatment innovation. As the global trend shifts towards laser-based therapies, BELKIN's technology is poised to play a pivotal role in this transition. The ease of use and non-invasive nature of DSLT are expected to accelerate its adoption, enhancing patient care and expanding the reach of effective glaucoma treatments worldwide.
Sources:
- Alcon Completes Acquisition of BELKIN Vision
- BELKIN Laser Ltd. People
- Alcon closes $81m deal to buy Belkin Vision
- How Daria Lemann-Blumenthal, Co-Founder And CEO Of BELKIN Laser
7 The Media Features and Publications
BELKIN LASER LTD, an Israeli medical device company specializing in glaucoma treatment technology, has garnered significant media attention and industry recognition since winning the EIC Accelerator funding in October 2021.Media Features and Publications
- BELKIN LASER LTD rebranded as BELKIN Vision to better align with its expanding ophthalmic ambitions beyond laser treatments for glaucoma. This move was covered by specialized ophthalmology publications emphasizing the company’s innovative Direct Selective Laser Trabeculoplasty (DSLT) technology, which allows fast, non-contact laser treatment of glaucoma and ocular hypertension.
- Major industry news outlets extensively reported on Alcon’s acquisition of BELKIN Vision in July 2024. The acquisition deal valued at $81 million upfront with potential milestone payments up to $385 million highlighted the strategic importance of BELKIN’s DSLT platform for expanding first-line glaucoma therapies. Articles detailed how DSLT improves on traditional selective laser trabeculoplasty by automating treatment delivery without requiring a gonio lens or manual aiming.
- Interviews with Alcon executives following the acquisition provided insights into integration plans and commercialization strategies for DSLT globally. Sean Clark, President of Global Surgical Franchise at Alcon, frequently appeared in coverage explaining how this novel technology fits into broader trends toward interventional glaucoma care.
Podcasts and Interviews
- Daria Lemann Blumenthal, CEO of BELKIN Laser (now BELKIN Vision), gave presentations explaining their vision to revolutionize glaucoma treatment through automated fast laser therapy accessible worldwide. A notable recorded interview is available where she discusses technological advantages such as ease-of-use compared to conventional SLT methods and clinical trial results supporting efficacy and safety.
- While no direct podcasts featuring the core team were found besides that CEO presentation video content, it reflects active engagement from leadership in thought leadership forums related to ophthalmic innovation.
Conferences, Fairs, Presentations & Event Involvement
Summary
Since receiving EIC Accelerator funding on October 6th, 2021:
- The company transitioned branding from BELKIN Laser Ltd to BELKIN Vision.
- Their flagship product DSLT gained regulatory approvals (EU/UK clearance; FDA 510(k) clearance December 2023).
- They attracted major strategic investment culminating in Alcon's acquisition announcement mid-2024.
- Leadership conducted key public interviews describing technology impact.
There is substantial media coverage focusing primarily on their breakthrough laser device for treating open-angle glaucoma more efficiently than traditional methods alongside corporate developments connected with integration under Alcon.
No evidence was found regarding podcasts or interviews unrelated directly to Daria Lemann Blumenthal’s presentation or other unrelated individuals named Belkin appearing publicly about this company specifically.
Sources:
- Alcon Completes Acquisition of Belkin Vision
- Alcon's Belkin Acquisition - Ophthalmology Times
- BELKIN Laser Rebrands as BELKIN Vision
- Alcon Buys Belkin Vision - MedTech Dive
- Healio: Alcon Acquires Belkin Vision DSLT Device
- YouTube Interview: Daria Lemann Blumenthal – Belkin Laser CEO Presentation
- Modern Retina: Alcon completes acquisition of Belkin Vision
- Medical Device Network News on Acquisition Deal Closure
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