Poulsbo-based biotech LumiThera has acquired Diopsys, a Pine Brook, New Jersey-based company that makes medical devices for eye care.
In a news release, LumiThera, which makes a device called Valeda for age-related macular degeneration (AMD), said the acquisition will combine its European sales force with Diopsys' U.S. sales force. The companies didn't disclose the financial terms of the deal.
"We have seen positive clinical data in multiple clinical trials with Valeda in the last year," Clark Tedford, president and CEO of LumiThera, said in the release. "We have also seen increased adoption of Valeda's non-invasive treatment for patients in approved European and South American countries over the last two years. We are excited to expand the approved use to the US and other global populations."
LumiThera, founded in 2013, is focused on "dry" AMD, which accounts for 90% of AMD patients, according to the company. On its website, the company says its technology works by using low-level light to stimulate cellular function. Its Valeda device, however, is not yet approved for sale in the U.S. but is available in Europe, Central America and South America.
In 2016, Tedford told the Business Journal LumiThera hoped to launch in the U.S. in 18 months to two years. Valeda is currently undergoing trials in the U.S. with 100 subjects, the company said.
Diopsys, founded in 1998, specializes in electroretinography, a test that uses light to measure electrical activity of the retina. Its devices come in the form of a cart, carry case or tabletop system.
"We are excited for the new combined entity and the potential to prevent vision loss," Joe Fontanetta, president of Diopsys, said in a news release. "The theranostic company will provide the tools eye care professionals need to diagnose, treat and monitor patients, providing a solution for multiple ocular diseases with limited treatment options."
