Bayer and Perfuse Therapeutics announced an agreement under which Bayer will fully acquire Perfuse Therapeutics. With this acquisition, Bayer will hold the full rights pertaining to PER-001, a small molecule endothelin receptor antagonist currently in phase 2 clinical development for the treatment of Glaucoma and Diabetic Retinopathy (DR).

This represents one of the first potential treatments for Glaucoma and DR being studied for its ability to improve the visual field for Glaucoma patients and to improve contrast sensitivity and reduce ischemia in DR patients.

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

“I’m incredibly proud of what the Perfuse team has accomplished and deeply thankful to all our investors and collaborators," said Sevgi Gurkan, MD, Founder and CEO of Perfuse Therapeutics, Inc. "Bayer’s vision aligns closely with ours, and they have the scale and global resources to unlock the full potential of PER-001 to change the trajectory of human blindness. We are very excited to see our mission continue with even greater momentum.”

Under the terms of the agreement, the transaction carries a total potential value of up to USD 2.45 billion, comprising a USD 300 million upfront payment and additional development, regulatory, and commercial milestone payments based on success criteria.

Glaucoma is a progressive optic neuropathy that causes the loss of retinal ganglion cells, resulting in loss of visual fields. It is the leading cause of irreversible vision loss affecting ~76-80 million people worldwide (2020) and is projected to affect ~112 million people by 2040 due to population aging. Despite its prevalence, there are no approved treatments today, preventing disease progression and blindness independently from the saturated approach of lowering intraocular pressure. There is a high unmet medical need for neuroprotective treatments for patients with Glaucoma.

DR is a microvascular complication of diabetes that damages retinal capillaries, causing ischemia, leakage, and neovascularisation affecting about 146 million people globally today. This includes about 25 percent of adults with diabetes and is projected to increase to 160 million people by 2045. Currently, 25 million people have vision?threatening DR and 1.3 million people are blind.

The acquisition is subject to and will become effective after receiving the necessary antitrust clearances and Perfuse stockholder approvals.