Bayer moved to expand its ophthalmology portfolio by acquiring Perfuse Therapeutics for $2.45 billion, gaining full rights to PER-001, a Phase II endothelin receptor antagonist for glaucoma and diabetic retinopathy. The deal includes a $300 million upfront payment plus development, regulatory, and commercial milestone payments. Bayer said PER-001 is designed as a bioerodible intravitreal implant delivering sustained release for six months, and that earlier Phase II data showed improvements in ocular blood flow and visual function when added to standard-of-care intraocular pressure therapies. The acquisition comes as Bayer’s ophthalmology franchise remains anchored by Eylea, where patent expiry and biosimilar competition have affected growth.