Israeli one-second non-invasive glaucoma laser treatment company Belkin Laser has announced the completion of a $12.25 million Series B financing round led by CR-CP Life Science Fund and with the participation of Rimonci Capital, Santen Ventures, BioLight Life Sciences and C-Mer Eye Care Holdings.
Prior to this round Belkin had raised $6.6 million, which includes the Israel Innovation Authority (IIA) incubator grant at the Rad Biomed Accelerator, as well as a European Horizon 2020 grant of $3 million and $2.5 million in its Series A financing round led by ZIG Ventures from Singapore.
The new funds will support continued worldwide commercialization and upcoming clinical trials of the Direct Selective Laser Trabeculoplasty (DSLT), the optimum first-line glaucoma treatment designed to offer a simple, user-friendly and patient-friendly laser treatment that can be utilized in any clinic and hospital as an initial treatment for glaucoma, even prior to the use of eye drops. The DSLT procedure, a non-contact laser technology and a potential game changer, would do the equivalent of an SLT (conventional glaucoma laser) in one second, overcoming the problem of low compliance with eye drop treatment.
Belkin Laser CEO Daria Lemann-Blumenthal said, "These investments signal to us that the industry has trust in our technology, which will impact the lives of millions of glaucoma patients by opening a new viable drop-less treatment option. The good news is that fast, easy and effective glaucoma treatment is one step closer for millions of patients."
Prof. Michael Belkin, founder and medical director of Belkin Laser, is an internationally renowned scientist and entrepreneur, whose previous Israel based glaucoma company, Optonol, was sold to Alcon in 2010 for $200 million.
Published by Globes, Israel business news - en.globes.co.il - on July 22, 2020
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