May 6, 2026 — Leads & Copy — Bayer will acquire Perfuse Therapeutics, a biopharmaceutical company, to gain full rights to PER-001, a small molecule endothelin receptor antagonist in Phase II clinical development for Glaucoma and Diabetic Retinopathy (DR).
The deal, announced today, carries a potential value of up to USD 2.45 billion, including a USD 300 million upfront payment. Additional payments will be made based on development, regulatory, and commercial milestones.
PER-001 is being studied for its potential to improve the visual field for Glaucoma patients and to improve contrast sensitivity and reduce ischemia in DR patients. Glaucoma affects approximately 76-80 million people worldwide and is projected to affect 112 million by 2040. Diabetic Retinopathy affects about 146 million people globally today and is projected to increase to 160 million by 2045.
“We are excited by the work of the team at Perfuse Therapeutics and encouraged by the potential of PER-001,” said Juergen Eckhardt, M.D., Head of Business Development and Licensing at Bayer Pharmaceuticals. He added that the acquisition complements Bayer’s expertise and pipeline in ophthalmology.
Sevgi Gurkan, MD, Founder and CEO of Perfuse Therapeutics, Inc., expressed pride in her team’s accomplishments and gratitude to investors and collaborators. She believes Bayer has the resources to unlock the full potential of PER-001.
PER-001 is an investigational small molecule endothelin receptor antagonist developed for ophthalmic diseases. It is administered via a bio-erodible implant into the eye.
The acquisition is subject to antitrust clearances and Perfuse stockholder approvals.
BofA Securities is Bayer’s financial advisor, and Baker McKenzie is legal counsel. Centerview Partners LLC is Perfuse’s financial advisor, and Goodwin Procter LLP is legal counsel.
In fiscal 2025, Bayer employed around 88,000 people and had sales of 45.6 billion euros. R&D expenses totaled 5.8 billion euros.
Perfuse Therapeutics is a biopharmaceutical company focused on treating ischemia-induced ocular diseases, headquartered in South San Francisco, Calif., with R&D facilities in Durham, N.C.
Source: Bayer
