Glaukos (NYSE:GKOS) said yesterday that it agreed to pay nearly $3 million plus milestones to acquire former subsidiary Dose Medical and its drug-delivery technology for treating retinal diseases.
Sam Clemente, Calif.-based Glaukos spun Dose out as a standalone company in 2010, but paid $26 million in July 2015 for Dose Medical’s glaucoma assets, including the cancellation of a $10.9 million debt and $15 million in cash. In April 2017 Glaukos acquired Dose Medical‘s intraocular pressure sensor system assets for $5.5 million in cash, plus $9.5 million contingent upon development, clinical and regulatory milestones.
Yesterday Glaukos said it’s buying up the remaining Dose assets for $2.5 million plus milestones pegged to regulatory and commercial goals. The deal is expected to close during the second quarter, Glaukos said.
“Since our founding more than 20 years ago, Glaukos has distinguished itself as an ophthalmic pioneer and leader by providing novel and effective treatment alternatives for people suffering with glaucoma,” president & CEO Thomas Burns said in prepared remarks. “With this acquisition, Glaukos will establish a new R&D retinal program that complements our growing glaucoma franchise and pipeline. We plan to build upon the promising work Dose Medical has already done, while leveraging our unique expertise in disruptive, micro-scale innovation to advance exciting new treatment options for [age-related macular degeneration] and other retinal diseases.”