Bayer agreed on 6 May 2026 to acquire Perfuse Therapeutics, a San Francisco-based biotech developing treatments for ischaemia-related eye diseases, for $300m upfront and up to $2.45bn in total.
Why Bayer AG is buying Perfuse Therapeutics, Inc.
Bayer said PER-001 could become one of the first treatments to improve the visual field in glaucoma and reduce ischaemia in diabetic retinopathy, complementing its ophthalmology expertise and pipeline. Glaucoma affects about 76-80 million people worldwide, and there is no approved neuroprotective therapy.
“With this acquisition, we are complementing our expertise in ophthalmology and our pipeline, reinforcing our commitment to developing urgently needed therapies for patients.”
Deal terms and financing
Bayer pays $300m upfront, with the remainder of the potential $2.45bn tied to development, regulatory and commercial milestones.
Regulatory approvals and timing
The deal required antitrust clearances and Perfuse stockholder approval. Bayer announced completion on 17 June 2026; its half-year report records the acquisition of 100% of the shares on 12 June.
Market context
BioPharma Dive described Perfuse as Bayer's first, and potentially largest, drug company acquisition in years.
