Eye health company Bausch + Lomb Corporation (NYSE:BLCO) (TSX:BLCO) announced on Monday that an affiliate has acquired Whitecap Biosciences, a company developing innovative therapies for glaucoma and geographic atrophy (GA).

This acquisition strengthens Bausch + Lomb's clinical-stage pipeline.

Whitecap Biosciences was founded in 2015 to develop novel therapies for ophthalmic diseases. The company successfully completed Phase 2 clinical trials for WB007, a highly potent alpha-2 adrenergic agonist, in glaucoma. Further clinical trials are planned for both glaucoma and GA.

Glaucoma is a chronic neurodegenerative disease that affects millions of people worldwide. GA, a form of age-related macular degeneration, affects approximately one million people in the United States.