Alcon agreed to acquire Neurotech Pharmaceuticals in a $550 million deal, aiming to broaden access to Encelto, an encapsulated cell therapy for macular telangiectasia type 2. The acquisition includes both the therapy and the underlying platform technology used to develop it. Encelto received FDA approval in March 2025 under a biologics license application, with priority review and orphan designation. Alcon said its surgical retina presence and commercial scale are intended to expand patient reach for the rare, progressive disorder. The transaction continues a recent pattern of Alcon dealmaking since separating from Novartis, reinforcing how major medtech players are consolidating regenerative and cell-therapy capabilities within their specialties.