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Bayer has acquired Perfuse Therapeutics, including the full rights to the PER-001 intravitreal implant, which is in development for glaucoma and diabetic retinopathy.
According to a press release, the transaction carries a potential value of up to $2.45 billion, with Bayer paying $300 million upfront. Phase 2 development for PER-001, a sustained-release small molecule endothelin receptor antagonist, is currently underway.
“This acquisition strengthens Bayer’s pharmaceutical pipeline and strategically fits with Bayer’s