Alcon has acquired Neurotech for USD 550 million
Life sciences
26 October 2026
Alcon has acquired Neurotech Pharmaceuticals and its ENCELTO therapy, an eye implant for MacTel type 2, a rare retinal disease that gradually destroys central vision.
Alcon, the eye care company headquartered in Geneva, has acquired US biotech Neurotech Pharmaceuticals for USD 550 million in cash, plus potential additional payments tied to milestones.
Alcon has acquired Neurotech Pharmaceuticals, adding ENCELTO (revakinagene taroretcel-lwey) to its retina portfolio. Announced on 20 October 2026, the acquisition was paid for with USD 550 million in cash, and Alcon may owe additional contingent payments, including some tied to commercial milestones. Alcon expects the deal to be modestly accretive to net sales growth and slightly dilutive to core diluted earnings per share in 2027, and accretive after that.
The first approved treatment for MacTel type 2
ENCELTO is an encapsulated cell-based gene therapy, surgically implanted in the eye, for adults with idiopathic macular telangiectasia (MacTel) type 2. This rare, progressive retinal disease causes irreversible loss of central vision and previously had no approved treatments. The implant continuously releases recombinant human ciliary neurotrophic factor, which is meant to help protect the retina’s photoreceptors. The U.S. Food and Drug Administration (FDA) approved it in March 2025 after a priority review, and it has Orphan Drug designation. ENCELTO is currently available only in the US, where about 25,000 patients are diagnosed with MacTel type 2 and 2,000 to 3,000 new cases are diagnosed each year, according to Alcon’s estimates.
A cell-therapy platform for chronic eye diseases
Neurotech is a private biotech company focused on therapies for chronic eye diseases. Its Encapsulated Cell Therapy platform is a first-in-class drug delivery system: a small semi-permeable capsule contains genetically engineered allogeneic retinal pigment epithelium cells that produce therapeutic proteins directly in the eye.
In the company’s press release, David Endicott, CEO of Alcon, calls the platform a highly complementary addition to Alcon’s current capabilities. Dan Miller, Distinguished Fellow, Research & Development at Alcon, says Alcon’s presence in surgical retina makes it the ideal partner to broaden access to ENCELTO.
