• Biotech Snap
  • Posts
  • Bayer purchases eye therapy specialist Perfuse for $2.45B & GSK signs $1B deal in China to target stubborn belly fat

Bayer purchases eye therapy specialist Perfuse for $2.45B & GSK signs $1B deal in China to target stubborn belly fat

AuthorAuthor

Joachim Eeckhout & Eduardo Longoria
May 07, 2026

👉 Join us on May 21: Inside the making of a diagnostic ELISA. Free to attend.

Good morning. If, like any biologist, you’ve been fixating on the headlines around the hantavirus outbreak on that cruise ship, I feel you. But the positive spin is that, since the COVID pandemic, we now live in a world where pathogen stories are met with faster detection, sharper surveillance, and a public that understands why epidemiology matters. Panic is loud, but so is progress.

— Joachim E.

Here’s the best way to support our daily work: Forward Biotech Snap to a friend!

Was this email forwarded to you? Sign up here.

SNAPSHOT

Bayer purchases Perfuse at $2.45B to rebuild its eye-care pipeline beyond Eylea

Bayer is acquiring Perfuse Therapeutics for up to $2.45bn to secure PER-001, a Phase II eye implant drug targeting glaucoma and diabetic retinopathy. The deal includes $300m upfront and milestone payments.

Why it matters: Bayer’s blockbuster Eylea once generated $9.6bn annually but now faces biosimilar competition after losing patent protection. While an upgraded version (Eylea HD) helps, it’s a temporary buffer rather than a long-term solution.

Zoom in: PER-001 is an endothelin receptor antagonist delivered via a bio-erodible implant. It aims to improve blood flow, reduce inflammation, and prevent cell death in the eye. Unlike standard treatments that lower eye pressure, it may improve vision itself. The therapy is currently in Phase II trials for glaucoma and diabetic retinopathy and also being explored for geographic atrophy and retinal vein occlusion.

Big picture: The deal signals a strategic shift toward disease-modifying therapies in eye care, a major unmet need in conditions like glaucoma and diabetic retinopathy, where current treatments mainly slow progression rather than restore vision.

What’s next: Clinical trial results will determine whether PER-001 can advance to late-stage development and eventually compete in markets long dominated by anti-VEGF drugs like Eylea.

PRESENTED BY PEPPERPRINT

The story behind immunology's most familiar assay

The humble ELISA. You've either run one yourself or relied on its results at the doctor's office. But how does it go from research data to a diagnostic tool clinicians actually trust?

Join Samuel Lundin on Thursday, May 21, for a practical case study on how his team at Biotome developed Helitope, a peptide-based Helicobacter pylori ELISA built from peptide microarray data to improve diagnostic specificity.

Sign up to attend live and ask questions, or get the recording if you can't make it.

SNAP AGAIN

GSK’s $1B China deal targets stubborn belly fat and bigger cardiometabolic risks

GSK is licensing SiranBio’s early-stage oligonucleotide drug SA030 for $55M upfront and up to $1B in milestones and royalties, aiming to treat metabolic disease by reducing abdominal fat while preserving muscle.

Why it matters: Abdominal fat is closely tied to diabetes, heart disease, and inflammation, so a drug that safely reduces it could reshape treatment beyond weight loss drugs like GLP-1s.

Backstory: Unlike GLP-1 drugs, SA030 uses gene-silencing biology, opening the door to combination regimens and reinforcing GSK’s bet on oligonucleotides as a core future platform. GSK has avoided the crowded obesity drug race, instead focusing on underlying cardiometabolic conditions. Its growing oligonucleotide pipeline includes partnerships with Ionis Pharmaceuticals and Arrowhead Pharmaceuticals, plus prior deals for liver and lung diseases.

Zoom in: SA030 targets ALK7, a protein linked to fat storage and metabolism, with the purpose of reducing visceral (abdominal) fat while maintaining lean mass. The potential benefits include improved insulin sensitivity, better lipid profiles, and lower inflammation. SA030 is delivered as an oligonucleotide, offering a long-acting effect with infrequent dosing.

What’s next: Currently in Phase I trials, SiranBio will complete early testing before GSK takes over global development (ex-China).

SNIPPETS

What’s happening in biotech today?

💰 Funding push: CellCentric has raised $220M in a Series D round led by Venrock to advance development of its experimental multiple myeloma drug, inobrodib, through Phase 2 and planned Phase 3 trials. Inobrodib is an oral therapy that inhibits the p300 and CBP proteins to block cancer-driving gene expression and is being tested in combination with existing treatments, including Pomalyst and bispecific antibodies from Pfizer and Johnson & Johnson. The company positions the drug as a flexible, at-home option for patients with relapsed disease, aiming to improve outcomes and complement current therapies in a market where unmet needs persist despite recent treatment advances.

🫀 Cardio boost: Cytokinetics’ drug Myqorzo met primary and secondary goals in a Phase 3 trial for non-obstructive hypertrophic cardiomyopathy, demonstrating statistically significant improvements in peak oxygen consumption and patient-reported heart health compared to placebo, while showing no new safety concerns despite some manageable side effects. The success distinguishes Myqorzo from Bristol Myers Squibb’s Camzyos, which previously failed in this patient group, and positions it to address a substantial unmet need in a condition where treatment options remain limited. Although the efficacy results were modest, analysts view them as meaningful and consistent, supporting potential regulatory discussions and a multibillion-dollar market opportunity.

⚖️ Mixed win: Avalo Therapeutics reported that its Phase 2 trial of abdakibart for hidradenitis suppurativa (a chronic inflammatory skin condition characterized by painful, recurring lumps) met its primary endpoint. The drug achieved HiSCR75 response rates (>75% reduction in total abscess and inflammatory nodule) of about 42% across dosing groups, though the placebo-adjusted benefit of 16.9% fell below company targets. Despite this, the statistically significant results and overall response levels compared favorably with AbbVie’s rival program, supporting plans to advance to Phase 3. The data boosted investor confidence and Avalo has moved to raise $375M to fund late-stage development as it seeks to compete in the inflammatory disease market.

🪓 Drug axed: BioCryst Pharmaceuticals has discontinued development of its plasma kallikrein inhibitor avoralstat, ending efforts to repurpose the drug for diabetic macular edema after earlier failure in hereditary angioedema, as part of a strategy to focus on rare disease treatments. Avoralstat had previously failed to prevent angioedema attacks in a Phase 3 trial, though it showed some benefit in reducing attack duration, and was later tested in a small Phase 1b eye disease study that is now halted. The company will instead prioritize other pipeline assets, including a Phase 1 therapy for Netherton syndrome, while continuing to build on the success of its approved Hereditary Angioedema drug Orladeyo.

TOUR OPERATOR

Upcoming events

What did you think of today's newsletter?

Your feedback helps us create the best newsletter possible.

Login or Subscribe to participate in polls.

Share the Snap!

Know someone who’d enjoy this? Hit forward and pass it along.