Baker McKenzie has advised Bayer on its agreement to acquire Perfuse Therapeutics, Inc., a US-based biopharmaceutical company focused on the treatment of ischemia‑induced ocular diseases. The acquisition complements Bayer’s pharmaceutical pipeline and fits with its footprint and expertise in ophthalmology.

The transaction carries a total potential value of up to USD 2.45 billion, comprising an upfront payment of USD 300 million and additional development, regulatory and commercial milestone payments. Under terms of the agreement, Bayer will fully acquire Perfuse Therapeutics and hold the full rights pertaining to PER‑001, a small‑molecule endothelin receptor antagonist currently in Phase II clinical development for the treatment of glaucoma and diabetic retinopathy.

Completion of the transaction is subject to customary closing conditions, including receipt of necessary antitrust clearances and Perfuse stockholder approvals.

Led by M&A / Life Sciences Partners Alan Zoccolillo, Oren Livne and Jieun Tak, the Baker McKenzie team includes:

M&A / Life Sciences: Associate Matt Bratovich
Antitrust: Partner Creighton Macy and Associate Evan Harris and Associate Marisa Dieken
Tax: Partner Lane Morgan
Benefits: Partner Matthew Schonholz and Associate M’Alyssa Mecenas

Learn more about the transaction here.

Baker McKenzie is a global transactional leader, with more than 2,500 deal practitioners across 40+ countries advising on complex and cross‑border transactions. With one of the largest Healthcare & Life Sciences teams of any international law firm, the Firm combines deep sector knowledge and a global platform to execute high‑stakes matters at the intersection of innovation, regulation and M&A.