Bausch inks $50M option to grab Allegro's eye disease pipeline.

Leaning into its new name, Bausch Health is laying the groundwork for a pipeline expansion. It's forking over $10 million upfront for the option to acquire Allegro Ophthalmics' eye disease assets, including its retinal disease med risuteganib. If Allegro pulls off another financing, Bausch will hand over the remaining $40 million, likely in 2021. [ABSTRACT FROM AUTHOR]