Alcon, Inc. is gearing up to make a major purchase, announcing earlier this week that it intends to acquire LumiThera, Inc.—developer of the groundbreaking photobiomodulation (PBM) device for early and intermediate dry age-related macular degeneration (AMD).
A major purchase indeed … let’s start with LumiThera.
The ophthalmic medical device company made its mark in the ophthalmic device space with its portfolio of light-based products targeting the detection, treatment, and monitoring of retinal diseases.
Its most prominent innovation: the Valeda Light Delivery System (LDS).
Tell me about this.
Granted FDA De Novo authorization for marketing in November 2024—and did we mention a new Category III CPT code for dry AMD treatment before that?—the Valeda LDS is a multi-wavelength (590 nm, 660 nm, and 850 nm) and non-invasive light therapy that utilizes PBM and a light-emitting diode (LED) system.
What the system does: Transfers a non-coherent, eye-safe column of light to deliver treatment to the eye (with a non-dilated pupil) via either an open or closed eyelid—all in < 5 minutes.
- About these treatment sessions: A total of nine applications are required over a 3- to 4-week duration, with the potential need for additional treatment on follow-up visits.
So what’s groundbreaking about it?
Primarily: Its use of PBM, making it the first (and currently only) technology to demonstrate meaningful visual improvement following 2 years of treatments in early and intermediate dry AMD patients.
- See here for details from the LIGHTSITE I (NCT02725762) and II (NCT03878420) trials, in which the system was found to improve best-corrected visual acuity (BCVA) over 24 months in > 5 letters or equivalent to a line on the eye chart—click here for further data from the LIGHTSITE III study.
Give me some more numbers on this.
Based on that LIGHTSITE II study, LumiThera reported:
- Over 97% of patients reported no pain or discomfort associated with Valeda LDS treatment
- Around 88% of PBM-treated patients maintained or gained vision versus baseline at Month 24
- Over 80% received the therapy for 2 years
And didn’t LumiThera report more recent data from these studies?
Good memory! And yes, topline results from an extension study of that third LIGHTSITE trial were released in May 2025.
The highlights of those findings: A mean gain of 5.5 BCVA letters was noted after eight additional PBM treatment sessions with the Valeda LDS (3.7 years [1,353 days] from the initiation of initial treatment).
- See here for more numbers.
Alrighty, now to this acquisition.
Alcon did not disclose any monetary value associated with the potential purchase.
However, the company did note that the acquisition would not extend to the following LumiThera devices:
These diagnostic devices will be “separated and spun-off to LumiThera’s shareholders prior to Alcon’s acquisition,” and will also continue to be marketed and sold by the LumiThera spin-off.
Duly noted. Did Alcon explain why it’s looking to purchase LumiThera?
As the company already holds a prominent position in the vitreoretinal surgery space, this latest strategic move will only enhance its domination—check out a few other recent acquisitions it’s made, including Aurion Biotech earlier this year.
How? By tackling a major unmet need in ophthalmology treatment for early-stage dry AMD.
So when can we expect the sale to be completed?
Pending customary closing conditions and a vote by LumiThera’s shareholders: Q3 2025.
In other words: Since we’re already one week into Q3, that translates to some time between now and Sept. 30.