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Bayer on May 6-7, 2026 agreed to acquire U.S. biotech Perfuse Therapeutics for $300 million upfront and up to $2.45 billion including development, regulatory and commercial milestones.
The deal would give Bayer full rights to PER-001, an intravitreal, bio-erodible implant delivering a small-molecule endothelin receptor antagonist now in mid-stage (Phase II) trials for open-angle glaucoma and diabetic retinopathy; Perfuse last year reported positive Phase II results.
Bayer said the asset complements its ophthalmology pipeline as sales of its flagship eye drug Eylea face pressure from biosimilars and patent expiries.
The acquisition is subject to customary Perfuse shareholder approval and antitrust clearances.
Perfuse is headquartered in San Francisco with R&D in Durham, North Carolina.
Bayer described the move as reinforcing its commitment to ophthalmology and addressing unmet needs in retinal disease; remaining payments depend on clinical, regulatory and commercial success of PER-001.


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