Pfizer and Blackstone Life Sciences announced a co-funding agreement on November 11, 2026:
Blackstone-managed funds will cover up to $1.5 billion of development costs for berobenatide through 2028.
Berobenatide—formerly Metsera’s MET-097i—is an investigational, potentially once-monthly injectable GLP-1 being developed for chronic weight management and obesity-related conditions.
Blackstone may receive milestone payments if monthly injectable berobenatide is approved in the U.S. as a standalone weight-management treatment and reaches specified commercial sales milestones. The payment amounts were not disclosed.
Pfizer retains ownership, operational control, and development decision-making; Blackstone receives no rights to the drug.
Pfizer says the program includes 10 ongoing or planned Phase 3 trials. It acquired berobenatide through its 2025 purchase of Metsera.
Sources:
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