Bayer is handing over up to $2.45bn to acquire Perfuse Therapeutics – marking the company’s first bid to enhance its legacy in the ophthalmology market since the patent expiry of its best-selling eye drug, Eylea (aflibercept).
Through this deal, Bayer will pay $300m upfront and up to $2.15bn in performance-related milestones to absorb Perfuse’s lead asset and pipeline candidate, PER-001.
The endothelin receptor inhibitor, which is administered via a bio-erodible, in-eye, sustained release implant, is currently in Phase II trials for both glaucoma and diabetic retinopathy (DR) – two leading causes of blindness globally.
Unlike current glaucoma treatments, which focus on managing vision loss by relieving pressure in the eye, Perfuse says PER-001 may improve a patient’s field of vision – potentially offering as a disease-modifying therapy (DMT) for the indication. The same principle could apply in DR, as Perfuse claims the drug could improve contrast sensitivity and diminish the characteristic blood supply restriction to the eye.
PER-001 acts by inhibiting the activity of endothelin, which is commonly upregulated in eye diseases like glaucoma or DR. Through its impact on the peptide, PER-001 is designed to reduce ocular inflammation and cell death, while encouraging blood flow in the eye’s vessels by blocking endothelin’s vasoconstrictive activity.
To further explore the potential of the drug in ophthalmology, Perfuse is also in the early stages of developing PER-001 for geographic atrophy (GA) and retinal vein occlusion (RVO).
Continuing Eylea’s legacy
If PER-001 were to make it to market, the therapy would deepen Bayer’s legacy in ophthalmology, which is currently defined by its Regeneron co-developed blockbuster eye therapy, Eylea. Regulators have approved the drug's use in several indications, including GA, DR and RVO.
While the drug was once a best-seller for Bayer and Regeneron, generating $9.6bn in combined sales at its peak in 2022, Eylea recently saw its global patent expire – leaving it vulnerable to biosimilar competition.
To combat this, the company debuted Eylea HD, a higher dose, 8mg formulation of the original drug. According to experts previously interviewed by Pharmaceutical Technology, this is an effective method to stave off the impacts of the patent cliff, though the approach has its limits.
Now, PER-001 could soon be poised to enter the glaucoma and DR markets, which have commonly relied on anti-VEGF therapies like Eylea. In two respective glaucoma and DR reports from GlobalData, parent company of Pharmaceutical Technology, key opinion leaders pointed out the lack of approved DMTs for each indication, which could provide better visual outcomes for patients.
