Key Takeaways

  • Bayer has completed its acquisition of Perfuse Therapeutics and will fully integrate the company into its operations
  • The deal gives Bayer full rights to PER-001, a phase 2 intravitreal implant being developed for glaucoma and diabetic retinopathy
  • Bayer paid $300 million upfront, with the transaction carrying a potential total value of up to $2.45 billion through milestone payments

Bayer has completed its acquisition of Perfuse Therapeutics, bringing the ophthalmology-focused biotechnology company fully into Bayer’s organization and securing full rights to PER-001, an investigational intravitreal implant currently in phase 2 clinical development for glaucoma and diabetic retinopathy (DR).

In May, Bayer has entered into an agreement to acquire Perfuse. Under the terms of the agreement, the transaction carries a total potential value of up to $2.45 billion, including a $300 million upfront payment and additional development, regulatory, and commercial milestone payments tied to the achievement of specified success criteria.

PER-001 is being investigated as a potential neuroprotective therapy designed to address the underlying ischemic and inflammatory mechanisms associated with glaucoma, unlike currently approved therapies that primarily focus on lowering IOP. PER-001 is an investigational endothelin receptor antagonist targeting endothelin, one of the body’s most potent vasoconstrictors. Elevated endothelin activity has been implicated in several retinal diseases. According to Perfuse, endothelin contributes to inflammation and cell death through receptors found in retinal vascular and neuroretinal cells.

The therapy is delivered through a bio-erodible intravitreal implant administered using a single-use, 25-gauge applicator. The implant is designed to provide sustained release of PER-001, potentially enabling a more convenient dosing regimen for patients.

The transaction marks an expansion of Bayer’s ophthalmology portfolio. Bayer holds the exclusive marketing rights to Eylea 2 mg and Eylea 8 mg (marketed as Eylea HD in the United States) outside of the US. The new deal positions the company to potentially bring forward one of the first treatments aimed at improving visual field outcomes in glaucoma patients and enhancing contrast sensitivity while reducing ischemia in diabetic retinopathy patients.