The quest to realize strongly interacting photons remains an outstanding challenge both for fundamental science and for applications. Here, we explore mediated photon-photon interactions in a highly imbalanced two-component mixture of exciton polaritons in a semiconductor microcavity. Using a theory that takes into account nonperturbative correlations between the excitons as well as strong light-matter coupling, we demonstrate the high tunability of an effective interaction between quasiparticles formed by minority component polaritons interacting with a Bose-Einstein condensate (BEC) of a majority component polaritons. In particular, the interaction, which is mediated by sound modes in the BEC can be made strong enough to support a bound state of two quasiparticles. Since these quasiparticles consist partly of photons, this in turn corresponds to a dimer state of photons propagating through the BEC. This gives rise to a new light transmission line where the dimer wave function is directly mapped onto correlations between the photons. Our findings open new routes for highly nonlinear optical materials and novel hybrid light-matter quantum systems.