Key Takeaways

  • Bayer will acquire Perfuse Therapeutics in a deal valued at up to $2.45 billion
  • In the deal, Bayer gains full rights to PER-001, a phase 2 therapy candidate for glaucoma and diabetic retinopathy (DR)
  • PER-001 is being studied as one of the first potential treatments designed to improve visual field outcomes in glaucoma patients and reduce ischemia in DR

Bayer has entered into an agreement to acquire Perfuse Therapeutics, a clinical-stage biopharmaceutical company focused on developing therapies for ischemia-induced ocular diseases. The acquisition gives Bayer full rights to PER-001, an investigational small molecule endothelin receptor antagonist currently in phase 2 clinical development for glaucoma and diabetic retinopathy (DR).

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.

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.

“We are excited by the work of the team at Perfuse Therapeutics and encouraged by the potential of PER-001,” said Juergen Eckhardt, MD, Head of Business Development and Licensing at Bayer Pharmaceuticals. “With this acquisition, we are complementing our expertise in ophthalmology and our pipeline, reinforcing our commitment to developing urgently needed therapies for patients.”

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.