Bausch + Lomb (BLCO.TO), a global eye health company, on Monday said it has acquired Whitecap Biosciences, which is currently developing two therapies for potential use in glaucoma and geographic atrophy (GA). Financial details were not disclosed.

"We're focused on finding treatments that address unmet needs or significantly improve upon the current standard of care," said Yehia Hashad, chief medical officer and executive vice president, Research & Development, Bausch + Lomb. "Glaucoma and geographic atrophy are two areas where we believe that dramatic improvement is possible. Whitecap Biosciences' investigational medicines show real promise when it comes to slowing vision loss and perhaps even improving vision for patients with glaucoma, which would be a long-overdue breakthrough."

Whitecap has completed Phase 2 clinical trials for WB007, a potential glaucoma treatment. Additional clinical trials are planned for both glaucoma and GA, a statement said.

Bausch + Lomb was last seen down 2.8%, or US$0.50, at US$17.26 in New York trading.