Bayer has agreed to acquire San Francisco-based biotech startup Perfuse Therapeutics in a deal potentially worth $2.45 billion. This marks the German healthcare giant’s largest drug company acquisition in recent years.
Financial terms of the acquisition
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Upfront payment: Bayer will pay $300 million initially.
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Contingent payments: The remaining $2.15 billion is tied to the achievement of specific development, regulatory, and commercial milestones.
A new weapon against Glaucoma and Diabetic Retinopathy The centerpiece of the deal is PER-001, a therapy currently in mid-stage clinical testing.
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Mechanism: Delivered via an intravitreal implant, the drug blocks a protein responsible for blood vessel constriction, which contributes to ocular damage.
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Therapeutic goals: Unlike traditional eye drops or injections, PER-001 aims to improve vision in glaucoma patients and relieve restricted retinal blood flow in those with diabetic retinopathy.
Strategy to offset revenue loss This acquisition comes at a critical time as Bayer’s ophthalmology business faces declining sales of its blockbuster drug, Eylea, following the loss of patent protection. Eylea revenue dropped by 12% in the final quarter of 2025 due to rising competition from biosimilars and rivals like Roche.
Bayer executives stated that the Perfuse acquisition complements their existing expertise and reinforces their commitment to developing urgently needed therapies. This move also aligns with CEO Bill Anderson’s ongoing efforts to restructure and streamline the conglomerate’s operations.
Source: https://www.contractpharma.com/breaking-news/bayer-agrees-to-acquire-perfuse-therapeutics/