Alcon Pharmaceuticals Ltd.

Dive Brief:Venture capital investment in medtech companies rose roughly 3% year over year to $3.3 billion in the second quarter, according to a new report from market data resarch firm Pitchbook.At the current rate, VC funds will invest close to 20% more in medtech firms this year than in 2023, Pitchbook said, offering support for the view that the industry has passed through the trough of funding.The value of exits for venture-backed medtech companies increased to $6.6 billion in the first half of 2024, although the data are skewed by Tempus initial public offering. Acquisitions of late-stage VC startups have been rare, a fact Pitchbook attributed to ongoing price gaps between buyers and sellers.Dive Insight:The number and value of VC investments in medtech companies peaked in 2021, per Pitchbooks data. Compared to the peak, the number of investments in 2023 was down 27% and the amount invested had fallen by 45%. Last year appears to be the low point for investment.VC investment fell sequentially in 2024, slipping from $3.5 billion in the first quarter to $3.3 billion in the second quarter. However, investment in the second quarter was still up about 3% year over year. The results suggest investment in 2024 can exceed the $11.5 billion seen last year.The number of investments, at 419, is tracking below the pace of 2023. The amount invested has increased despite flat to down deal numbers because VC funds have placed big bets on a small number of companies. Pitchbook said there were five deals above $100 million in the quarter, and the increase indicates ongoing investor preference for quality and optimism around greater exit possibilities.A $150 million investment in Insightec, a developer of focused ultrasound treatment, was the largest VC round in the second quarter. Pitchbook estimates Insightec will exit by listing its shares on a stock exchange.The prediction follows a quarter in which Tempus raised $400 million in an IPO. The public offering by the precision medicine company showed unprofitable medtech companies can go public in the current environment. Pitchbook said Tempus success could shift investors' willingness to support unprofitable companies if a public listing emerges as a realistic possibility.The extent to which the IPO window opens could affect mergers and acquisitions. Belkin Vision, Attune Medical, C2i Genomics and Blackrock Neurotech were all acquired in the quarter. Combined with the IPO exits, the deals led Pitchbook to view VC exit levels in medtech for 2024 so far as a solid win for the sector and a positive sign for deal value and exit momentum going forward.Yet, the Pitchbook analysts said deal activity for late-stage VC startups is lagging acquisitions of larger, publicly traded companies such as Shockwave Medical, Axonics, Abiomed and Silk Road Medical. The analysts attributed the lack of buyouts of venture-backed firms to sellers asking for more than buyers are willing to pay. The availability of IPOs as an exit option may influence whether the valuation gap persists.If the IPO window remains closed, this could benefit strategics from an M&A standpoint, as startups may be more willing to be acquired at a reasonable multiple, wrote Pitchbook. '

Belkin Vision’s Eagle device delivers 120 laser pulses to the trabecular meshwork at the edges of the cornea to help drain excess fluid and relieve intraocular pressure. Alcon has bought up Belkin Vision and its laser device for treating glaucoma.  The deal includes an upfront transfer of $81 million, including about $65 million in cash—plus the opportunity for up to $385 million more in sales-based milestone payments if Alcon can secure the technology as clinicians’ go-to option in first-line therapy. Known as direct selective laser trabeculoplasty, or DSLT, the company’s automated procedure aims to help lower a patient’s intraocular pressure without medications or eyedrops, where untreated increases can cause damage to the optic nerve. Belkin’s Eagle device delivers 120 pulses of laser energy to the trabecular meshwork located at the edges of the cornea, which helps drain excess fluid. The system differs from previous SLT approaches by employing eye-tracking technology for a potentially hands-off approach. “As a therapy with significant advantages for the patient and practice, we believe our newly acquired DSLT technology is uniquely positioned to accelerate the evolution toward first-line use of SLT in the glaucoma treatment paradigm,” Sean Clark, president of Alcon’s global surgical franchise, said in a statement.  DSLT has been approved in the EU and the U.K.; Alcon said the device has also obtained a 510(k) clearance from the FDA, but the system has not yet been made commercially available in the U.S.—which the company hopes to change before the end of this year. Meanwhile, Alcon’s glaucoma portfolio already includes implantable microstents such as the Hydrus as well as pharmaceutical drops. The company also said it plans to incorporate DSLT into its Alcon Vision Suite training platform for providers. “We look forward to broadening access to this exciting technology in the future as we continue to address solutions for unmet needs in glaucoma,” Clark said. A previous clinical trial showed SLT approaches can be a cost-effective primary treatment for open-angle glaucoma as well as ocular hypertension, reducing the need for repeated medications or surgical procedures, according to Alcon, and that automating the process can offer a more streamlined workflow.

Board will help advance the mission and support development of our game-changing IUD for contraception (3D-001)MANSFIELD, Mass., March 13, 2024 (GLOBE NEWSWIRE) -- 3Daughters, a clinical development company fueling evolutionary healthcare for women, announced the appointment of Michele LaRussa, Vincent J. Miles, Ph.D., and Sarah J. Stevens, Ph.D., to serve on the Company’s Board of Directors. These strategic appointments mark a significant milestone in the company's plan to revolutionize birth control with a newly designed Intrauterine Device (IUD), 3D-001, to address a major barrier to adoption, insertion pain. An IND for 3D-001 will be filed this year followed by a Phase 1 clinical trial. Ms. LaRussa, Dr. Miles, and Dr. Stevens provide a collective wealth of experience and skillful expertise from the life sciences industry, perfectly aligning with 3Daughters' mission to drive therapeutic innovation within the women's health arena. Their appointments are set to enhance the company's strategic direction and drive the development of groundbreaking healthcare solutions for women, starting with the revolutionary frameless, magnetic nonhormonal IUD. Mary Beth Cicero, CEO of 3Daughters, expressed her enthusiasm about the new additions to the board: "We are incredibly excited to have the collective strengths of Michele, Sarah, and Vin on our Board of Directors. Their invaluable experience with the crucial aspects of an emerging life sciences company - regulatory affairs, drug development, manufacturing, and fundraising, are exactly what 3Daughters needs as we move into the clinic with our novel IUD and Slider™ system (inserter/retriever) to address insertion pain, a major barrier to adoption. Their guidance and enthusiasm will be instrumental in shaping a future where women will have improved healthcare options." Ms. LaRussa has a distinguished career in regulatory affairs and clinical development, built over 32 years of experience in various therapeutic areas. Currently, she is the Chief Regulatory Officer at SFJ Pharmaceuticals, following a significant 13-year tenure at Novartis, where she held leadership roles, including Chief of Staff to the Global Head of R&D. Her extensive background includes key positions at Allergan, GlaxoSmithKline, Kala Pharmaceuticals, and Liquidia Technologies, and she was the Chief Regulatory Officer at Atox Bio. Michele has a B.Sc. in Chemistry degree from the University of South Florida. Dr. Miles is a well-known and respected member of the biotech and venture capital community with a career spanning more than 45 years that encapsulates a spectrum of pivotal roles that have influenced the industry's growth. For the last 16 years, Vin has been a partner and executive director at Abingworth, a key life sciences investment firm, and has served on the boards of multiple biotech companies, including IFM Therapeutics, Dicerna Pharmaceuticals, Chiasma, Hydra Biosciences, and Personalis. His previous roles include Senior Vice President at Alnylam Pharmaceuticals and VP positions at Millennium Pharmaceuticals, RiboGene, and Pharmacia. He also directed the technology transfer office at Dana-Farber Cancer Institute and started his career in R&D at Amersham International. Dr. Miles holds a B.Sc. in Biochemistry and a Ph.D. in Biochemical Embryology from University College London. Dr. Stevens, with over 20 years in the biopharmaceutical industry, currently leads the Labs & Cleanroom on Demand Business Unit at Azzur Group, delivering bespoke solutions to early-phase manufacturers for faster market entry. Her career spans pivotal roles in CDMO and CRO leadership, including Senior Vice President at Quotient Sciences and Global Head of Drug Product Development at Albany Molecular Research. Sarah has a rich background in drug development and manufacturing and contributed to novel drug formulations at Encap Drug Delivery with patented oral dosage forms during her post-doctoral fellowship at the University of Strathclyde. Her academic credentials include an M.Pharm and an MBA from the University of Strathclyde, a Ph.D. in Pharmaceutical Sciences from the University of Manchester, and a Lean Six Sigma Green Belt. Michele, Vin and Sarah’s expertise and experience will significantly contribute to the company's aggressive plans for clinical development of a game-changing IUD for contraception. With this first product, 3Daughters expects to disrupt the IUD market and establish a position as a major innovator in women's healthcare. About 3Daughters™ 3Daughters is a clinical development company focused on evolutionary healthcare for women where cutting-edge research and innovation is desperately needed. The Company’s technology platform is based on physics and geometry to deliver targeted therapy to the uterus. The first product, (3D-001), is a frameless, magnetic, nonhormonal intrauterine device (IUD) for long-acting contraception that conforms to a woman’s body and is combined with our unique, patented Slider™ system (insertion/ retrieval) designed to eliminate steps and pain points as well as the nuisance factor of strings (needed for removal). 3Daughters’ vision is to solve health issues for women, particularly significant (neglected) problems. 3Daughters plans to radically disrupt the IUD market by addressing the major adoption barrier — insertion pain. This pain is associated with all current rigid, plastic T-shape framed IUDs on the market and prevents women from selecting one of the most effective forms of birth control. Visit 3daughtershealth.com for more information. Contact: Louis Scottiinfo@3Daughtershealth.com