Alcon and RxSight are pairing up to jointly develop a new adjustable lens to give surgeons the ability to fine-tune visual outcomes for cataract patients following surgery.
The eyecare specialists are set to create a presbyopia-correcting intraocular lens (PCIOL), a premium vision implant technology for cataract patients who prefer ‘spectacle independence’, as opposed to the standard surgical cataract treatment of monofocal IOLs, following which patients often still require reading glasses.
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Under the non-exclusive agreement, Alcon will pay RxSight $60m upfront to begin development, with up to an additional $140m outlaid as certain development and regulatory milestones are met. Alcon will lead global commercialisation efforts for the finalised PCIOLs that result from the pair-up, with RxSight set to receive royalties on net sales for its role in the collaboration.
PCIOLs are a form of synthetic lens implanted during cataract surgery or refractive lens exchange to replace the eye’s natural, defective lens in patients with the condition. The solution is designed to provide clear vision at multiple ranges and typically mitigates the need for post-operative cataract surgery patients to wear reading glasses.
To create the finished PCIOLs, RxSight’s post-operative light-adjustable technology will be combined with Alcon’s PCIOL optical designs, the companies stated.
RxSight’s lead product is the light-adjustable lens (LAL), a type of intraocular lens made of a specialised photosensitive silicone. Currently, the only US Food and Drug Administration (FDA)-cleared adjustable IOL, LAL’s shape and refractive power can be modified following cataract surgery when exposed to a specific wavelength of ultraviolet (UV) light delivered by the California-based company’s light delivery device (LDD).
“Our leading PCIOLs have helped millions of patients reduce or eliminate the need for glasses after cataract surgery,” said Alcon CEO David Endicott. “Together with RxSight’s technology, we have the opportunity to develop tuneable PCIOLs, giving surgeons even greater confidence to refine outcomes after surgery.”
GlobalData analysis reveals that the global intraocular lens (IOL) market is growing at a CAGR of 5% and is projected to reach a valuation of around $9.3bn in 2035. Alcon is the leading player in the space and held a 40.2% and 30% share of the US and global market in 2025, respectively, as per a GlobalData market model.
Alcon’s collaboration with RxSight follows a duo of failed acquisitions for the company. In January 2026, STAAR Surgical terminated its $1.6bn agreement to merge with the Swiss eyecare specialist after failing to secure sufficient shareholder support. Meanwhile, Lensar called off its planned acquisition by Alcon in March, citing unresolved regulatory concerns as the main reason for ending the deal.
