Alcon Buys LumiThera to Expand Vision Loss Treatment Portfolio

Global eye care company Alcon has acquired LumiThera, a Washington-based medical device startup known for developing an innovative treatment designed to slow vision loss caused by degenerative eye disease. While the financial details of the deal have not been disclosed, the acquisition marks an important step in expanding access to advanced eye care technologies.

Founded in 2013 and headquartered in Poulsbo, Washington, LumiThera has focused on developing non-invasive therapies for patients suffering from dry age-related macular degeneration (dry AMD), one of the leading causes of vision loss among older adults.

At the center of the acquisition is LumiThera’s flagship product, the Valeda Light Delivery System. The device is designed for use by ophthalmologists and uses photobiomodulation (PBM) technology, a treatment that delivers carefully controlled LED light to stimulate retinal cells. The approach aims to improve vision while slowing the progression of dry AMD before permanent damage occurs.

The technology gained significant regulatory recognition after successfully completing the LIGHTSITE I, II, and III clinical trials. Following those studies, the U.S. Food and Drug Administration granted the Valeda Light Delivery System De Novo market authorization in November 2024, allowing the treatment to enter the U.S. market. The device is also commercially available across Europe, Latin America, Singapore, and the United States.

LumiThera has been led by President and CEO Clark Tedford, who co-founded the company in 2013. Speaking about the acquisition, Tedford said the company’s PBM technology offers a non-invasive option for patients with dry AMD, helping improve vision while addressing the disease at an earlier stage before irreversible vision loss occurs.

He added that the company is excited to have Alcon recognize the long-term potential of the technology. According to Tedford, Alcon’s global reach and commercialization expertise position the treatment to benefit millions of people living with dry AMD around the world.

The acquisition strengthens Alcon’s presence in innovative ophthalmology treatments and could help accelerate the broader adoption of the Valeda system through the company’s established global distribution network.

LumiThera has attracted investor support over the years, including a $14 million Series C funding round completed in July 2020. That investment helped the company continue developing and advancing its light-based therapy through clinical trials and regulatory approvals.

Although Alcon is acquiring LumiThera’s therapeutic business, the transaction does not include the company’s diagnostic products, AdaptDx and Nova/Diopsys. According to a July news release, LumiThera is separating its diagnostics division into a newly formed company called OpZira, Inc.

The newly established business will retain the majority of LumiThera’s employees and continue focusing on diagnostic technologies, while Alcon takes ownership of the company’s therapeutic platform centered around the Valeda Light Delivery System.

With this acquisition, Alcon adds an FDA-authorized technology aimed at treating dry AMD to its growing portfolio, while LumiThera’s breakthrough light-based therapy is expected to reach a wider global patient population under the eye care giant’s leadership.

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