Eye care company Alcon (SIX:ALC) (NYSE:ALC) on Monday announced plans to acquire LumiThera Inc, a developer of photobiomodulation (PBM) technology for treating early and intermediate dry age-related macular degeneration (AMD).

LumiThera's device, which uses non-invasive, low-level light therapy to stimulate retinal mitochondrial function, is the only technology to show meaningful visual improvement over two years in clinical trials.

Data from the LIGHTSITE I, II, and III studies demonstrated that patients with PBM-treated eyes gained and maintained improved visual acuity, with no serious treatment-related adverse events reported.

The device received FDA de novo market authorisation in November 2024 and holds CE Mark approval. It is currently available in Europe, Latin America, Singapore, the United Kingdom, and the United States.

Alcon intends to expand office-based PBM treatments in approved markets, reinforcing its strategic focus on retinal disease therapies.

The acquisition excludes LumiThera's AdaptDx and Nova/Diopsys diagnostic devices, which will be spun off to existing LumiThera shareholders.

Subject to customary conditions and a shareholder vote, the transaction is expected to close in the third quarter of 2025.

Financial terms were not disclosed.