Frankfurt – German agrichemical and pharmaceutical giant Bayer said Wednesday it would buy experimental glaucoma drug maker Perfuse Therapeutics in a deal worth up to $2.45 billion (2.09 billion euros).
Based in San Francisco, Perfuse Therapeutics makes PER-001, a drug designed to treat glaucoma and diabetes-related eye damage still going through clinical trials.
“We are excited by the work of the team at Perfuse Therapeutics and encouraged by the potential of PER-001,” Juergen Eckhardt, head of licensing at Bayer Pharmaceuticals said.
About 80 million people suffer from glaucoma, Bayer said, an eye disease that can lead to blindness, resulting from increased pressure within the eye.
About 146 million people suffer from diabetic retinopathy, Bayer said, or complications resulting from diabetes to the eye that can also lead to blindness.
Both sets of numbers are expected to grow due to population ageing, Bayer said.
Bayer will pay 300 million dollars up front for the Perfuse Therapeutics, rising to up to 2.45 billion based on the company and its drug meeting performance and regulatory hurdles.
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Source: AFP
