LumiThera’s Innovative Eye Treatment Technology Acquired by Alcon
In a significant development for the field of ophthalmology, Poulsbo, Washington-based medical device company LumiThera has been acquired by global eye care giant Alcon. This acquisition represents a pivotal moment for patients suffering from dry age-related macular degeneration (AMD), a condition that affects millions worldwide and has historically had limited treatment options. LumiThera’s groundbreaking Valeda Light Delivery System, which received FDA de novo market authorization in November 2024, offers new hope for those facing vision loss from this degenerative condition.
The Valeda Light Delivery System utilizes an innovative approach called photobiomodulation (PBM), which stimulates cellular function using specific wavelengths of LED light. This non-invasive treatment represents a significant advancement in eye care, as it not only helps improve vision in patients with dry AMD but can also slow the progression of vision loss when applied earlier in the disease process. The technology’s effectiveness has been validated through a series of clinical trials—LIGHTSITE I, II, and III—which demonstrated meaningful benefits for patients. Currently, the treatment is available to patients in the United States, Europe, Latin America, and Singapore, with potential for broader global availability following the acquisition.
Clark Tedford, who co-founded LumiThera in 2013 and has served as its President and CEO since inception, expressed enthusiasm about the acquisition. “Our PBM device provides a non-invasive treatment for dry AMD patients that can improve vision and address the disease earlier, before permanent vision loss,” Tedford stated. His confidence in Alcon’s capabilities to commercialize the technology widely suggests that this acquisition may significantly increase access to this treatment for the millions of people living with dry AMD worldwide. The vision behind LumiThera has always been to develop innovative solutions for degenerative eye diseases, and this partnership with Alcon represents a major step toward fulfilling that mission on a global scale.
The journey to this acquisition has been one of scientific innovation and persistent development. LumiThera raised $14 million in a Series C funding round in July 2020, demonstrating investor confidence in its technology and approach. This funding likely helped support the continued development and clinical trials of the Valeda system, leading to its eventual FDA authorization and market expansion. The company’s focus on creating a non-invasive, office-based treatment for a condition that previously had few options exemplifies how targeted medical technology can address significant unmet needs in healthcare. For patients with dry AMD, who often experience gradual but relentless deterioration of central vision, the availability of an effective treatment option represents a life-changing development.
It’s worth noting that the acquisition agreement did not include LumiThera’s diagnostic devices AdaptDx and Nova/Diopsys, according to a news release from July. This selective acquisition suggests that Alcon was particularly interested in the therapeutic aspects of LumiThera’s technology portfolio, specifically the Valeda Light Delivery System and its PBM approach. While the financial terms of the acquisition were not disclosed, the transaction represents a significant milestone in the eye care industry’s ongoing efforts to address age-related vision disorders. As the global population continues to age, the prevalence of conditions like dry AMD is expected to increase, making innovations in this area particularly valuable from both healthcare and commercial perspectives.
The acquisition of LumiThera by Alcon brings together complementary strengths: LumiThera’s innovative technology and Alcon’s global reach and commercialization expertise. This combination has the potential to accelerate the adoption of PBM therapy worldwide, making it more accessible to patients who could benefit from it. For ophthalmologists, having access to an FDA-authorized, non-invasive treatment option for dry AMD expands the tools available to help preserve patients’ vision and quality of life. The story of LumiThera—from its founding in 2013 to this acquisition—demonstrates how medical device innovation, when backed by solid clinical evidence and targeted at significant unmet needs, can ultimately benefit millions of patients while also creating value for investors and the healthcare system.
