Bayer to acquire Perfuse Therapeutics in a deal worth up to USD 2.45 billion, gaining global rights to PER-001, a Phase II endothelin receptor antagonist being developed for primary open-angle glaucoma and diabetic retinopathy.
Written By: Samiksha Jadhav, BPharm
Reviewed By: Pharmacally Editorial Team
Bayer has agreed to fully acquire Perfuse Therapeutics Inc., a clinical-stage biopharmaceutical company developing therapies for ischemia-related eye diseases. The transaction gives Bayer full global rights to PER-001, an investigational small molecule endothelin receptor antagonist currently in Phase II development for primary open-angle glaucoma (POAG) and diabetic retinopathy (DR).
The deal has a total potential value of up to USD 2.45 billion, including a USD 300 million upfront payment and additional development, regulatory, and commercial milestone payments tied to predefined success criteria. The acquisition remains subject to antitrust clearances and approval from Perfuse stockholders.
The acquisition further expands Bayer’s ophthalmology pipeline beyond established anti-VEGF therapies into neuroprotective and ischemia-targeted retinal disease approaches.
In glaucoma, PER-001 is being evaluated for its potential to slow progression of visual field loss and preserve retinal ganglion cell function. In diabetic retinopathy, the program is being assessed for improvement in contrast sensitivity, reduction in retinal ischemia, and potential delay in progression to proliferative diabetic retinopathy (PDR) or diabetic macular edema (DME).
PER-001 is delivered through a bio-erodible intravitreal implant administered into the vitreous cavity using a single-use 25-gauge applicator. The implant is designed to provide sustained release of the endothelin receptor antagonist over several months, supporting less frequent dosing compared with conventional anti-VEGF intravitreal therapies and potentially improving treatment adherence and patient-reported outcomes.
PER-001 targets the endothelin-1 (ET-1) pathway, which contributes to vasoconstriction, blood-retinal barrier disruption, inflammation, and retinal cell death. Elevated endothelin signaling has been linked to several ischemic retinal diseases, including POAG, diabetic retinopathy, age-related macular degeneration, and retinal vein occlusion. Endothelin receptor blockade may help restore vascular tone, reduce ischemia, and provide neuroprotective effects on retinal neurons and glial cells.
Juergen Eckhardt, M.D., Head of Business Development and Licensing at Bayer Pharmaceuticals, said the acquisition strengthens Bayer’s ophthalmology expertise and pipeline while supporting the company’s efforts to develop therapies for patients with significant unmet medical needs.
Sevgi Gurkan, M.D., Founder and CEO of Perfuse Therapeutics, said Bayer’s global scale and ophthalmology capabilities could help advance the development of PER-001 and further the company’s mission to address blindness-related diseases.
Glaucoma is a progressive optic neuropathy characterized by retinal ganglion cell loss and visual field deterioration, often associated with elevated intraocular pressure. It remains the leading cause of irreversible blindness globally, affecting an estimated 76–80 million people in 2020, with prevalence projected to rise to nearly 112 million by 2040.
Current therapies primarily focus on lowering intraocular pressure, while no approved neuroprotective therapy has been shown to halt disease progression independently of pressure reduction.
Diabetic retinopathy is a diabetes-related microvascular disease that damages retinal capillaries, leading to ischemia, leakage, and neovascularization. The condition currently affects an estimated 146 million people worldwide and is projected to reach nearly 160 million by 2045, with approximately 25 million people already living with vision-threatening disease.
Reference
Bayer to acquire Perfuse Therapeutics to complement ophthalmology pipeline
About the Writer
Samiksha Vikram Jadhav is a B. Pharm graduate with a strong academic foundation in pharmaceutical sciences, pharmacology, and drug development. She specializes in pharma market research, with a focused interest in mergers and acquisitions, strategic partnerships, and global pharma and biotech deals. Her work centers on analyzing industry transactions, market positioning, and business strategies, translating complex developments into clear, accurate, and insightful scientific and commercial reporting.