Pharma BD Deal Intelligence
Bayer agreed to fully acquire Perfuse Therapeutics for up to $2.45B ($300M upfront + up to $2.15B in development, regulatory, and commercial milestones), announced May 6, 2026. Bayer obtains global rights to PER-001, a first-in-class small-molecule endothelin receptor antagonist delivered as a sustained-release intravitreal implant (single-use 25-gauge applicator, dosed roughly every six months) that improves retinal blood flow and reduces ocular ischemia. PER-001 completed Phase 2a trials in glaucoma and diabetic retinopathy (positive 24-week data reported June 2025) with pivotal trials planned; future expansion into dry age-related macular degeneration is contemplated. The transaction is subject to antitrust clearance and Perfuse stockholder approval; no expected close date was disclosed. The deal complements Bayer's ophthalmology franchise anchored by Eylea and marks Bayer's return to M&A after a multi-year drought.