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08 Jul 2025
Global eyecare giant to acquire Washington-based company with non-invasive photobiomodulation technology.
Alcon, the Geneva-headquartered eyecare company, has announced plans to acquire LumiThera, a US firm that is working on a multi-wavelength treatment for dry age-related macular degeneration (AMD).
Based near Seattle, LumiThera claims that its photobiomodulation (PBM) device is the “first and only” technology to have demonstrated meaningful visual improvement over the course of two years in patients with early and intermediate dry AMD.
Clinical evidence
LumiThera CEO Clark Tedford, who is also a co-founder of the
firm, said: “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.
“We are thrilled that Alcon agrees in the potential that this device has to change the lives of millions living with dry AMD, and we are confident that Alcon has the capabilities to broadly commercialize it.”
Having received US Food and Drug Administration (FDA) market authorization in November 2024 and CE Mark approval back in November 2018, PBM is currently available in Europe, Latin America, Singapore, the UK and the US.
Sean Clark, the VP and general manager of Alcon’s Global Surgical Franchise, added: “Dry AMD is an area of significant unmet need, and PBM is an efficacious, non-invasive light therapy that can provide visual improvement for patients with early and intermediate disease.
“With Alcon’s global commercial and clinical expertise, we have the potential to make this therapy more broadly available to eyecare professionals and their patients, while continuing to strengthen its body of clinical evidence.”
Founded in 2013, LumiThera initially struggled to raise funding, with US Securities and Exchange Commission (SEC) filings indicating a $5 million equity raise in 2017, followed by a $10 million round completed in February 2025.
Mitochondrial dysfunction
Although usually less serious than wet AMD, the dry form of the disease is a major cause of visual impairment in the over-50s and is thought to affect some 200 million people globally.
It typically causes blurring or reduced central vision, impacting people’s ability to read, drive, and recognize faces - but according to the Mayo Clinic web site, it does not affect the side vision so will not cause total blindness directly.
However, the disease can progress to wet AMD and a more severe impact on sight, and the clinic also suggests that although several clinical trials are in progress there's currently no way to reverse the damage caused by dry AMD.
Alcon explains that the retina is rich in mitochondria, and mitochondrial dysfunction is a known cause of vision loss in dry AMD. LumiThera’s “Valeda” PBM technique aims to treat the disease with wavelengths of light that are said to enhance mitochondrial function and thereby improve cellular energy production.
One clinical trial of Valeda in Europe involving 44 patients was completed in early 2021. It used 590, 660 and 850 nm wavelengths, although according to clinicaltrials.gov no results have been posted.
Further trials have taken place in the US and Europe, while a larger, multi-center clinical study in Norway is currently looking to recruit 500 patients and is expected to run until the end of 2026.
Alcon and LumiThera say that the three initial trials of Valeda, known as “LIGHTSITE I, II, and III”, consistently showed that the PBM treatment led to improved visual acuity, with no treatment-related serious adverse events reported.
More specifically, they claim that in the pivotal “LIGHTSITE III” trial involving 96 people, 64 per cent of those treated showed improved visual acuity after two years.
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