Ophthalmic medical technology company Glaukos has signed a definitive agreement and plan of merger to acquire Dose Medical.

Once the $2.5m acquisition closes, Glaukos will acquire all remaining assets and liabilities of Dose Medical, which is currently developing multiple micro-invasive, bioerodible, sustained-release drug delivery technologies.

The platforms can be used to treat various retinal diseases, including age-related macular degeneration (AMD) and diabetic macular edema.

As estimated by Market Scope, about 28 million people in the US suffer from some type of retinal disease or condition, including approximately 17 million people with AMD.

Glaukos president and CEO Thomas Burns 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.

“With this acquisition, Glaukos will establish a new R&D retinal programme that complements our growing glaucoma franchise and pipeline.

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“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, which was previously a wholly owned subsidiary of Glaukos, was spun-out as a standalone entity separate from the latter’s go-forward business in 2010.

A special committee comprising only independent members of Glaukos’ board of directors, approved the terms of the agreement.

The transaction is subject to customary closing conditions and is expected to close during this quarter.