Key Takeaways
- • Blackstone Life Sciences has agreed to provide up to $1.5 billion in funding to Pfizer for development of once-monthly GLP-1 agonist candidate berobenatide, according to pharmaphorum.
- • The deal follows a risk-sharing model in which Blackstone funds clinical development in exchange for development and commercial milestone payments and sometimes royalties, while Pfizer retains asset rights.
- • Pfizer has 10 phase 3 trials of berobenatide either ongoing or planned, targeting chronic weight management and obesity-related comorbidities such as knee osteoarthritis and obstructive sleep apnoea.
- • Berobenatide came to Pfizer through its $10 billion acquisition of Metsera, undertaken after in-house GLP-1 candidates failed.
- • Pfizer's CFO Cecile Guegan said the investment supports its obesity programme while preserving financial flexibility across the broader pipeline.
Summary
Blackstone Life Sciences, the private equity firm's life sciences arm, has agreed to provide up to $1.5 billion in funding to Pfizer to advance berobenatide, an investigational once-monthly GLP-1 agonist. The compound, formerly designated PF-08653944/MET-097i, was acquired by Pfizer as part of its $10 billion takeover of Metsera last year, a move prompted by the failure of Pfizer's in-house GLP-1 candidates.
The drug is designed to offer less frequent dosing than the current generation of once-weekly injectable GLP-1 therapies for weight loss and type 2 diabetes, which are marketed by Eli Lilly and Novo Nordisk. Pfizer has 10 phase 3 trials of berobenatide either ongoing or in planning, focused on chronic weight management and obesity-related comorbidities including knee osteoarthritis and obstructive sleep apnoea.
The transaction exemplifies a risk-sharing structure that is gaining popularity in biopharma. Under such arrangements, an investment group funds a clinical programme in exchange for development and commercial milestone payments and, in some cases, royalties, while rights to the asset remain with the pharmaceutical partner. Blackstone generally positions itself as a partner on late-stage assets. According to the report, the firm has previously completed similar agreements with Johnson & Johnson for the acute myeloid leukaemia therapy bleximenib, MSD for the antibody-drug conjugate sacituzumab tirumotecan (sac-TMT), Sanofi and Teva for the inflammatory bowel disease candidate duvakitug, and Moderna for a flu vaccine programme.
Presenting data at this year's American Diabetes Association congress, Pfizer reported a 15.9% weight loss at 60 weeks with weekly dosing in the phase 2b VESPER-1 study, and up to 12.4% weight loss at week 28 with monthly dosing in the VESPER-3 trial. The phase 2b VESPER-2 study, which evaluated weekly dosing in people with obesity or overweight and type 2 diabetes, showed a 2.2% reduction in A1C after 28 weeks.
Blackstone's global life sciences head, Dr Nicholas Galakatos, described the collaboration as an example of the firm's "leadership in providing capital solutions at scale to advance important medicines and technologies to patients." Pfizer's chief financial officer, Cecile Guegan, said the investment will help the company "advance our comprehensive obesity programme and maintain the financial capacity and flexibility to invest in our broader pipeline across all therapeutic areas."
The drug is designed to offer less frequent dosing than the current generation of once-weekly injectable GLP-1 therapies for weight loss and type 2 diabetes, which are marketed by Eli Lilly and Novo Nordisk. Pfizer has 10 phase 3 trials of berobenatide either ongoing or in planning, focused on chronic weight management and obesity-related comorbidities including knee osteoarthritis and obstructive sleep apnoea.
The transaction exemplifies a risk-sharing structure that is gaining popularity in biopharma. Under such arrangements, an investment group funds a clinical programme in exchange for development and commercial milestone payments and, in some cases, royalties, while rights to the asset remain with the pharmaceutical partner. Blackstone generally positions itself as a partner on late-stage assets. According to the report, the firm has previously completed similar agreements with Johnson & Johnson for the acute myeloid leukaemia therapy bleximenib, MSD for the antibody-drug conjugate sacituzumab tirumotecan (sac-TMT), Sanofi and Teva for the inflammatory bowel disease candidate duvakitug, and Moderna for a flu vaccine programme.
Presenting data at this year's American Diabetes Association congress, Pfizer reported a 15.9% weight loss at 60 weeks with weekly dosing in the phase 2b VESPER-1 study, and up to 12.4% weight loss at week 28 with monthly dosing in the VESPER-3 trial. The phase 2b VESPER-2 study, which evaluated weekly dosing in people with obesity or overweight and type 2 diabetes, showed a 2.2% reduction in A1C after 28 weeks.
Blackstone's global life sciences head, Dr Nicholas Galakatos, described the collaboration as an example of the firm's "leadership in providing capital solutions at scale to advance important medicines and technologies to patients." Pfizer's chief financial officer, Cecile Guegan, said the investment will help the company "advance our comprehensive obesity programme and maintain the financial capacity and flexibility to invest in our broader pipeline across all therapeutic areas."
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