The deal could be worth as much as $2.45 billion, with $300 million paid upfront and additional development, regulatory and commercial milestone payments tied to success criteria, Bayer said Wednesday in a statement.
Bayer will gain full rights to PER-001, a drug currently in mid-stage testing for eye conditions including glaucoma and diabetic retinopathy, which can lead to vision loss.
The acquisition comes as Bayer faces generic competition for its popular blood ...