Alcon Acquires LumiThera and Its Breakthrough PBM Therapy VALEDA—the First and Only FDA-Approved Device for Early-to-Intermediate Dry AMD

On July 8, according to Fierce Biotech, Alcon, the global leader in ophthalmic devices, has signed an agreement to acquire LumiThera Inc., an innovator in ophthalmic phototherapy, and its PBM photobiomodulation therapy device, VALEDA, used for treating early to intermediate dry age-related macular degeneration (AMD).

Image Source: Fierce Biotech

The world's first and only
Innovative Technology Wins Favor with Giants

The LumiThera Inc. acquired by Elcon this time is highly promising. It is reported that LumiThera Inc. focuses on treating eye injuries and diseases, and its flagship product is the heavyweight product to be acquired by Elcon this time — the VALEDA Light Delivery System, a multi-wavelength photobiomodulation (PBM) therapy device used for treating patients with dry AMD.

In November 2024, the VALEDA Optical Delivery System received FDA approval in the United States. This is the world’s first and only device approved by the FDA for the treatment of vision loss in patients with dry AMD. Additionally, the device had already obtained the EU CE Mark back in 2018.

According to publicly available information, Valeda can provide safe, non-invasive, and painless therapy. The device stimulates retinal cells by using light of specific wavelengths, activating components of the mitochondrial respiratory chain, promoting cell proliferation and protection, thereby improving vision.

Moreover, Valeda features three therapeutic wavelengths with distinct effects: the 590nm wavelength reduces vascular endothelial growth factor and cellular deposition; the 660nm wavelength enhances oxygen binding of cytochrome C oxidase and has anti-inflammatory effects; the 850nm wavelength stimulates metabolic activity, exhibits anti-inflammatory properties, and reduces cell death.

In the previously published LIGHTSITE III trial, Valeda also showed excellent results. In this trial, its treatment reached the primary endpoint with good safety and improved vision for patients with dry AMD.

However, it is worth noting that the financial terms of this transaction have not been disclosed yet, and the acquisition is expected to be completed in the third quarter of this year. Moreover, this transaction does not involve the acquisition of all products and businesses under LumiThera. Apart from the PBM photobiomodulation therapy device VALEDA, LumiThera's AdaptDx dark adaptometry testing technology and Diopsys Nova vision testing and diagnostic equipment will be divested and continue to be operated by a new company formed by LumiThera's shareholders.

LumiThera President and CEO Clark Tedford stated that their PBM device offers a non-invasive treatment for patients with dry AMD, which can improve vision and address the disease earlier before permanent vision loss occurs. Sean Clark, Vice President and General Manager of Alcon’s Global Surgical Business, also expressed high hopes for this PBM device and its innovative technology. He noted that dry AMD is an area with significant unmet needs, and PBM is an effective, non-invasive light therapy that can provide vision improvement for patients in the early to intermediate stages of the disease. Alcon's global commercial and clinical expertise can make this therapy more widely available to eye care professionals and their patients while continuing to strengthen its clinical evidence base.

Accelerate M&A
Multiple Promising Products Launched

In recent years, Alcon has pressed the accelerator on mergers and acquisitions, acquiring several globally first and unique advanced technologies and products. Apart from this acquisition, Alcon has also spent heavily to complete multiple acquisitions.

In July 2024, Alcon announced the successful completion of its acquisition of BELKIN Vision, a glaucoma treatment device company, for a whopping $325 million (RMB 2.3 billion). Through this acquisition, Alcon has obtained BELKIN Vision's Direct Selective Laser Trabeculoplasty (DSLT) technology, further expanding Alcon’s glaucoma product portfolio.

Notably, in February this year, Alcon's innovative product, the Voyager™ DSLT device for Direct Selective Laser Trabeculoplasty, received FDA approval. The predecessor of this product was the Eagle™ Glaucoma Laser Treatment Device developed by Belkin Vision. With this approval, the device has become the world’s first and only Direct Selective Laser Trabeculoplasty device.

On March 24 this year, Alcon acquired Lensar for $356 million, gaining access to Lensar’s Ally robotic cataract laser treatment system, its proprietary Streamline software technology platform, and traditional laser surgical systems. Following the acquisition, these technologies will strengthen Alcon's product portfolio in the femtosecond laser-assisted cataract surgery (FLACS) field.

It is reported that the ALLY Robot Cataract Laser System integrates world-class imaging and dual-modal lasers. It is the first and only tissue-specific laser, which is 4 times faster than traditional methods. In March this year, Lensar's 3D femtosecond laser cataract system with a new oval-shaped Patient Interface (PI) has been launched in China.

In the same week that Alcon acquired Lensar, it also completed the acquisition of a majority stake in Aurion Biotech, a clinical-stage biotechnology company focused on cell therapy for corneal endothelial diseases, and appointed former Chief Scientific Officer Arnaud Lacoste as CEO. After the acquisition, Aurion Biotech will continue to operate independently, with Alcon providing R&D, regulatory, and commercialization support to accelerate the advancement of its first-of-its-kind corneal allogeneic cell therapy, AURN001, into Phase III clinical trials by 2025.

Under the strategy of "Buy Buy Buy," several significant acquisition cases of Elcon have been successively completed, enabling it to acquire multiple globally pioneering technology products and further solidify its leading position in the ophthalmology sector.

Conclusion

By acquiring LumiThera, Alcon brings the world's first dry AMD therapy into its portfolio. Its continuously intensified M&A strategy is driving the transformation from a traditional ophthalmic supplies provider to a full-cycle eye health solutions provider, reshaping the landscape of the ophthalmology treatment market.

References:

"FDA Approved! World's First Dry Macular Degeneration Treatment Device" Siyu MedTech

Editor: Muyan

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