Bayer is expanding its presence in the United States to bolster its ophthalmology capabilities. The acquisition of eye care specialist Perfuse Therapeutics carries a total potential deal value of up to 2.45 billion US dollars, the group announced on Wednesday. This figure includes an upfront payment of 300 million US dollars, alongside additional development, regulatory, and commercial milestone payments.

Perfuse Therapeutics is a biopharmaceutical company pioneering research into the treatment of specific ocular diseases. Through this acquisition, Bayer gains full rights to a drug candidate currently in Phase II clinical development for the treatment of glaucoma and diabetic retinopathy (DR). The completion of the takeover remains subject to antitrust approvals and the consent of Perfuse shareholders.

(Reporting by Matthias Inverardi, edited by Myria Mildenberger. For inquiries, please contact our editorial team at berlin.newsroom@thomsonreuters.com (for politics and economics) or frankfurt.newsroom@thomsonreuters.com (for corporate and markets).)