Bayer moved to expand its ophthalmology franchise, agreeing to buy Perfuse Therapeutics in a deal valuing the transaction at up to $2.4B, including up to $2.15B in milestones, according to reports tied to the company’s acquisition of the mid-stage eye disease prospect. Perfuse’s program is centered on an implant designed to address major causes of blindness and is supported by late mid-stage clinical data. The buyout gives Bayer control of the development asset and adds an additional internal pipeline driver in a therapeutic area that often translates quickly into regulatory and commercial planning. The deal also marks a notable step for Bayer’s broader M&A posture in recent years, as eye disease assets have continued to attract attention from large players looking for targeted growth. For investors and biotech operators, the transaction underscores how mid-stage ophthalmology candidates—especially those with clear clinical readouts—remain a fast path to strategic portfolio expansion.