Alcon acquires Neurotech Pharmaceuticals for $550M, gaining Encelto — the only FDA-approved treatment for macular telangiectasia type 2. The deal could grow with additional milestone-based payments. Alcon says the acquisition will accelerate commercialization of the therapy and broaden patient access through its global ophthalmic reach.
Alcon makes a big retinal bet with $550M Neurotech acquisition
Alcon has officially acquired Neurotech Pharmaceuticals in a $550 million deal, adding Encelto (revakinagene taroretcel-lwey) — the only FDA-approved therapy for macular telangiectasia (MacTel) type 2 — to its growing retina portfolio. Additional contingent payments tied to commercial milestones could push the total value even higher.
Encelto, an encapsulated cell therapy approved by the FDA in March 2025, sits at a rare intersection of cell therapy, pharmaceuticals, and surgery. Alcon's CEO David Endicott highlighted the complementary fit, noting that Alcon's global reach and surgical retina expertise can help bring this innovation to more patients whose vision is at risk from MacTel.
By the Numbers
Why it matters: MacTel type 2 is a rare, progressive retinal disease with no other approved treatments. This acquisition positions Alcon to scale access to a first-in-class therapy while strengthening its foothold in the competitive retinal disease space.
