The Life Sciences team advised Perfuse Therapeutics Inc. (“Perfuse Therapeutics”) on an agreement with Bayer under which Bayer will fully acquire Perfuse Therapeutics. With this acquisition, Bayer will 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 (DR). Under the terms of the agreement, the transaction carries a total potential value of up to $2.45 billion, comprising a $300 million upfront payment and additional development, regulatory, and commercial milestone payments based on success criteria.
Perfuse Therapeutics is a biopharmaceutical company pioneering transformational research into the treatment of ischemia-induced ocular diseases. Enabled by its proprietary sustained-release drug delivery platform, the company is advancing its lead asset PER-001 for global leading causes of blindness. Headquartered in South San Francisco, Calif., and with R&D facilities in Durham, N.C., Perfuse Therapeutics has established a strong team committed to advancing disease-modifying therapies to patients with ocular disease around the world.
The Goodwin team was led by Mitch Bloom, Rob Dzialo, Adam Dilluvio, Tim Ayotte, Dylan Miller, Ben Colao, Ankit Gupta, Noelle Dubiansky, Elizabeth Mulkey, Arman Oruc, Kevin Walsh, Theresa Kavanaugh, Suzanne Nguyen, April Sun, Grace Wirth, Dasol Lee, Brian Mukherjee, Laura Conway, Justin Pierce, James Oh, Gozde Guckaya, Justin Shields, and Dan Karelitz.
For more information on the deal, please read the press release.