Glaukos announced that it has entered into a definitive agreement to acquire DOSE Medical Corporation for $2.5 million in cash, plus milestone payments. Upon the consummation of the acquisition, DOSE Medical will become a wholly owned subsidiary of Glaukos. The transaction is expected to close during the current quarter, subject to customary closing conditions.

DOSE Medical is developing multiple microinvasive, bioerodible, sustained-release drug delivery platforms designed to be used in the treatment of various retinal diseases, including age-related macular degeneration (AMD) and diabetic macular edema.

“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,” Thomas Burns, Glaukos president and chief executive officer, said in a news release. “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 AMD and other retinal diseases.”

DOSE Medical was previously a wholly owned subsidiary of Glaukos. In 2010, it was spun-out as a standalone entity separate from Glaukos’ go-forward business. If completed, the acquisition would include all remaining assets and liabilities of DOSE Medical. Two Glaukos directors also serve on the board of DOSE Medical and certain members of Glaukos management are stockholders of DOSE Medical.