Bayer acquires Perfuse Therapeutics to expand ophthalmology pipeline beyond Eylea

Bayer has acquired Perfuse Therapeutics in a move to strengthen its ophthalmology pipeline. The deal marks a shift toward larger-scale mergers and acquisitions after years of early-stage investments. With nearly USD 7 billion spent recently on innovation, the company is now targeting more advanced clinical programmes. The acquisition centres on PER-001, an endothelin receptor antagonist currently in Phase II trials. It is being developed for glaucoma and diabetic retinopathy, conditions with significant unmet medical needs. Bayer sees potential in the drug as a disease-modifying therapy rather than just a symptomatic treatment.

Bayer’s ophthalmology division has long relied on Eylea, a key revenue driver. However, patent expirations are putting pressure on the franchise, pushing the company to seek new growth opportunities. By securing PER-001, Bayer aims to bolster its mid-term revenue prospects and diversify its portfolio.

This deal also signals a strategic shift. While Bayer has focused on early-stage innovations in recent years, the Perfuse acquisition reflects a return to later-phase, higher-value transactions. The company is now prioritising assets that can quickly reinforce its pipeline and deliver tangible results. The acquisition of Perfuse Therapeutics expands Bayer’s ophthalmology offerings beyond Eylea. With PER-001 in Phase II, the company is positioning itself for future revenue streams in high-need areas. The move underscores Bayer’s renewed focus on larger, more advanced deals to sustain long-term growth.