Alcon (ALC) said Monday it intends to buy LumiThera and its Photobiomodulation Device for the treatment of early and intermediate dry age-related macular degeneration - an eye condition that potentially leads to vision loss.

The deal excludes the acquisition of AdaptDx and Nova/Diopsys diagnostic devices, which will be separated and spun-off to LumiThera's stockholders, the company said.

The deal will likely be completed in Q3, Alcon added.

PBM secured the US Food and Drug Administration's de novo market approval in November and is currently available in Europe, Latin America, Singapore, the UK and the US, the company said.