Bayer to Buy Eye-Drug Developer Perfuse Therapeutics for Up to $2.45 Billion

By Adria Calatayud

Bayer said it agreed to buy Perfuse Therapeutics, a pharmaceutical company that specializes in drugs for eye diseases, for up to $2.45 billion.

The German pharmaceutical-and-agricultural group said Wednesday that the deal aims to complement its ophthalmology pipeline. The patent expiration of eye drug Eylea has weighed on the results of Bayer's pharma business in recent quarters.

Perfuse's lead drug candidate is an experimental treatment for glaucoma and diabetic retinopathy currently being tested in mid-stage clinical trials, Bayer said.

Bayer said it would pay $300 million upfront, with the rest of the price subject to hitting additional development, regulatory, and commercial targets.

Write to Adria Calatayud at [e-mail]

(END) Dow Jones Newswires

05-06-26 0301ET