Bayer announced an agreement to acquire Perfuse Therapeutics, a biopharmaceutical company focused on treatments for ischemia-induced ocular diseases, in a transaction valued at up to $2.45 billion.
Under the terms of the agreement, Bayer will make a $300 million upfront payment and additional development, regulatory, and commercial milestone payments tied to performance and approval milestones.
The acquisition gives Bayer full rights to PER-001, an investigational small molecule endothelin receptor antagonist currently in Phase II clinical development for glaucoma and diabetic retinopathy.
Bayer said PER-001 has the potential to become one of the first disease-modifying therapies for glaucoma and diabetic retinopathy by targeting ischemia and visual impairment rather than focusing solely on lowering intraocular pressure.
According to the companies, glaucoma affects approximately 76 million to 80 million people globally and remains the leading cause of irreversible blindness. Diabetic retinopathy currently affects around 146 million people worldwide, including approximately 25 million patients with vision-threatening disease.
PER-001 is designed as an intravitreal bio-erodible implant intended to provide sustained drug release through a single-use applicator. The therapy targets endothelin receptors, which are associated with vasoconstriction, inflammation, and cell death in multiple ophthalmic diseases.
Bayer said the acquisition strengthens its ophthalmology pipeline and aligns with the company’s strategic focus on developing treatments for major unmet medical needs in eye disease.
The transaction remains subject to regulatory approvals, including antitrust clearances and Perfuse shareholder approval.
Support: BofA Securities served as financial advisor to Bayer, while Centerview Partners advised Perfuse Therapeutics.
KEY QUOTES:
“We are excited by the work of the team at Perfuse Therapeutics and encouraged by the potential of PER-001. With this acquisition, we are complementing our expertise in ophthalmology and our pipeline, reinforcing our commitment to developing urgently needed therapies for patients.”
Juergen Eckhardt, M.D., Head Of Business Development And Licensing, Bayer Pharmaceuticals
“I’m incredibly proud of what the Perfuse team has accomplished and deeply thankful to all our investors and collaborators. Bayer’s vision aligns closely with ours, and they have the scale and global resources to unlock the full potential of PER-001 to change the trajectory of human blindness. We are very excited to see our mission continue with even greater momentum.”
Sevgi Gurkan, M.D., Founder And CEO, Perfuse Therapeutics
