Bayer to acquire Perfuse Therapeutics for $300M upfront

Bayer (BAYRY) 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 II clinical development for the treatment of Glaucoma and Diabetic Retinopathy. Under the terms of the agreement, the transaction carries a total potential value of up to $2.45B, comprising a $300M upfront payment and additional development, regulatory, and commercial milestone payments based on success criteria. The acquisition is subject to and will become effective after receiving the necessary antitrust clearances and Perfuse stockholder approvals.