At a Glance
- Acquirer: Bayer
- Target: Perfuse Therapeutics
- Deal value: $300M upfront, up to $2.45B total
- Lead asset: PER-001 (endothelin antagonist)
- Indications: Glaucoma, diabetic retinopathy
What happened?
Bayer announced on 6 May 2026 it will fully acquire Perfuse Therapeutics, gaining rights to PER-001, a Phase 2 small-molecule endothelin receptor antagonist for glaucoma and diabetic retinopathy. Deal totals up to $2.45 billion: $300 million upfront plus development/regulatory/commercial milestones.
Why does it matter?
PER-001 targets unmet needs: visual field improvement in glaucoma (~80M global cases) and ischemia reduction/contrast sensitivity in DR (~146M cases). Bayer’s largest pharma acquisition since 2020 AskBio deal; complements Eylea legacy amid patent challenges.
Who’s behind it?
Bayer’s pharma unit; Perfuse pioneers ischemia therapies. Juergen Eckhardt (Bayer BD&L) praised PER-001’s potential as first disease-modifying eye treatment.
How was it achieved?
Phase 2 data showed significant vision improvements vs control. Fits Bayer’s ophthalmology expertise; BofA Securities/Baker McKenzie advised Bayer.
What’s next?
Antitrust/stockholder approvals; Bayer advances PER-001. Centerview/Goodwin advised Perfuse.
What are people saying?
Juergen Eckhardt, Bayer: “Excited by Perfuse team… reinforces commitment to urgently needed therapies.”