Bayer has strengthened its pharmaceutical and ophthalmology portfolio through two separate transactions, completing the acquisition of Perfuse Therapeutics while also entering a collaboration agreement with Iambic Therapeutics. The moves provide Bayer with full ownership of Perfuse’s lead asset, PER-001, and expand its access to advanced artificial intelligence technologies aimed at accelerating drug development. The acquisition gives Bayer complete rights to the phase II-stage PER-001 intravitreal implant, a sustained-release endothelin receptor antagonist being investigated for glaucoma and diabetic retinopathy. At the same time, the company is broadening its research capabilities through an AI drug discovery partnership with Iambic Therapeutics focused on identifying novel small-molecule candidates for difficult biological targets.
The acquisition of Perfuse Therapeutics supports Bayer’s strategy to advance treatments that address ischemia-driven eye diseases through mechanisms that operate independently of intraocular pressure reduction. PER-001 targets endothelin, a vasoconstrictor associated with retinal ischemia, and is delivered through a dissolvable intravitreal implant designed for administration every six months using a 25-gauge injector. Bayer stated that the transaction could reach a total value of up to $2.45 billion USD, including an upfront payment of $300 million USD and additional milestone-based payments. Clinical findings presented at the 2025 Clinical Trials at the Summit meeting showed that 37.5% of high-dose glaucoma patients achieved a clinically meaningful visual field improvement of at least 7 dB in predefined regions over 24 weeks, compared with none of the control patients. The diabetic retinopathy group also demonstrated gains in contrast sensitivity, visual acuity, and structural measures related to macular ischemia. Results from 60 patients, including 33 with glaucoma and 27 with diabetic retinopathy, supported advancement into phase 2b/3 development.
Alongside the acquisition, Bayer and Iambic Therapeutics have agreed to collaborate on the use of Iambic’s artificial intelligence platform, including the Enchant and NeuralPLexer technologies. These multimodal tools are designed to improve endpoint prediction and enhance molecular optimization processes. Bayer expects the collaboration to help identify differentiated hit molecules and shorten development timelines within its research pipeline. According to Bayer, conventional drug development can take between 10 and 15 years and cost approximately $2.6 billion USD per approved therapy, while more than 90% of candidates do not reach approval. Iambic noted that its platform has previously advanced a novel candidate to the clinic in roughly one-third of the industry-standard timeline. Financial details of the collaboration were not disclosed, although the agreement includes upfront, milestone, and royalty payments.
The two announcements demonstrate Bayer’s effort to combine promising ophthalmology assets with advanced AI drug discovery capabilities. Commenting on the agreement, Juergen Eckhardt, MD, Head of Business Development and Licensing at Bayer Pharmaceuticals, said: “This collaboration exemplifies our shared ambition to harness AI as a strategic driver of innovation in drug discovery and our focus on building high-impact collaborations that translate cutting-edge technology into patient value.” Bayer plans to move PER-001 into pivotal phase 2b/3 studies while using the Iambic partnership to support future pharmaceutical innovation.
