Key Takeaways
- • Blackstone Life Sciences and Pfizer announced on 11 November an agreement covering up to $1.5bn in development costs for berobenatide, an experimental monthly injectable obesity treatment, through 2028, with BXPE perpetual private equity strategy investing alongside.
- • Payments to Blackstone depend on US regulatory approval and sales thresholds, and Pfizer retains operational control of the programme; the $1.5bn is a cap, not an amount already paid.
- • Magnetar led a $500m growth funding round for Torus on 11 November, with participants including Iconiq, Origin Ventures, Ridgeline Partners and Trinity Capital, to support manufacturing and US deployments of its Foundry AI infrastructure system.
- • Vine Ventures closed Fund III at $236m, exceeding its target and lifting firm AUM above $500m, with a focus on US-Israel technology companies in software, AI infrastructure and cybersecurity.
- • The Reserve Bank of India is reportedly preparing a ban on a single private equity firm controlling several non-bank lenders, per Reuters sources on 12 November; no official document has been issued.
Summary
Blackstone Life Sciences and Pfizer announced on 11 November an agreement under which Blackstone will provide up to $1.5bn in development costs for berobenatide, an experimental monthly injectable treatment for obesity, through 2028. According to the announcement as reported by Paperjam.lu, the financing gives Blackstone access to future payments without any transfer of ownership of the medicine. Payments to Blackstone will depend on, among other things, US regulatory approval and sales thresholds. Pfizer will retain operational control of the programme. Funds from the BXPE perpetual private equity strategy will invest alongside those from Blackstone Life Sciences. The announced figure is a cap and does not represent a sum already paid in full.
In a separate transaction, Torus announced on 11 November $500m in growth capital in a round led by Magnetar, with participation from Iconiq, Origin Ventures, Ridgeline Partners and Trinity Capital. The US manufacturer is simultaneously launching Foundry, a prefabricated system combining power supply, storage, cooling and computing designed for artificial intelligence workloads. The proceeds are intended to support manufacturing capacity and US deployments. Torus claims it can commission the systems within 12 to 16 weeks using existing electrical connections; this timeframe is based on the supplier's own claims and has not been independently verified.
Vine Ventures announced on 11 November the closure of its Fund III at $236m. The fund exceeded its initial target and brings the firm's assets under management to over $500m. The strategy focuses on technology companies in the corridor between the United States and Israel, with early-stage investments planned particularly in software, AI infrastructure and cybersecurity. The press release states that asset managers and family offices are among the subscribers, without disclosing individual commitments.
In India, Reuters reported on 12 November, citing sources, that the Reserve Bank of India is preparing a measure to prevent a single private equity firm from controlling several non-bank lenders. The central bank has not responded to the report, and no official document confirms the measure, so it should be treated as a press-reported proposal rather than an enacted rule.
In a separate transaction, Torus announced on 11 November $500m in growth capital in a round led by Magnetar, with participation from Iconiq, Origin Ventures, Ridgeline Partners and Trinity Capital. The US manufacturer is simultaneously launching Foundry, a prefabricated system combining power supply, storage, cooling and computing designed for artificial intelligence workloads. The proceeds are intended to support manufacturing capacity and US deployments. Torus claims it can commission the systems within 12 to 16 weeks using existing electrical connections; this timeframe is based on the supplier's own claims and has not been independently verified.
Vine Ventures announced on 11 November the closure of its Fund III at $236m. The fund exceeded its initial target and brings the firm's assets under management to over $500m. The strategy focuses on technology companies in the corridor between the United States and Israel, with early-stage investments planned particularly in software, AI infrastructure and cybersecurity. The press release states that asset managers and family offices are among the subscribers, without disclosing individual commitments.
In India, Reuters reported on 12 November, citing sources, that the Reserve Bank of India is preparing a measure to prevent a single private equity firm from controlling several non-bank lenders. The central bank has not responded to the report, and no official document confirms the measure, so it should be treated as a press-reported proposal rather than an enacted rule.
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