Glaukos Corp. in San Clemente paid $5.5 million to Dose Medical Corp. in Laguna Hills for wireless sensor technology to incorporate into Glaukos’ eye stent product line to treat glaucoma.
Milestones could bring Glaukos’ purchase of an intraocular pressure sensor system from Dose to $15 million.
The pressure sensor is a wireless system that lets the stent transmit data to a patient’s doctor.
The buy, “complements Glaukos’ fundamental strategy … with micro-scale device and drug delivery platforms,” said Chief Executive Thomas Burns.
Glaukos makes implantable eye stents that help drain excess intraocular fluid, which is often present in glaucoma patients. This helps keep eye pressure at normal levels; an increase in eye pressure can lead to optic nerve damage and blindness.
Glaukos launched its iStent in the U.S. in 2012.
Dose Medical was previously a wholly owned subsidiary of Glaukos. It was spun-out as a standalone entity in 2010 and five years later, as Glaukos went public, Glaukos bought assets from Dose for $26 million, which included cash as well as debt cancellation.
Dose Medical shares an address in Laguna Hills with venture capitalist Fjord Ventures LLC, an early investor in Glaukos.
Glaukos traded recently at a $1.5 billion market cap.