Alcon (ALC) said late Wednesday it has acquired a majority stake in Aurion Biotech, a company developing cell therapies to treat eye diseases.

Financial details weren't provided.

Aurion will operate as a separate company to advance its cell therapy asset AURN001 into phase 3 to treat corneal edema secondary to corneal endothelial disease during H2, Alcon said.

Aurion has received breakthrough therapy designation from the US Food and Drug Administration for AURN001, Alcon said.