Pfizer and Blackstone Life Sciences announce strategic funding agreement for obesity program
BX•Pfizer and Blackstone Life Sciences agreed to provide Pfizer up to $1.50 billion through 2028 for its obesity program. Pfizer will retain full operational control of the berobenatide program, while Blackstone may receive payments tied to regulatory approval and sales milestones.
1. Funding agreement
Blackstone will provide Pfizer up to $1.50 billion through 2028 for its obesity program. Pfizer will retain full operational control of the berobenatide program, and Blackstone is eligible for milestone payments subject to regulatory approval and sales milestones. Funds managed by Blackstone’s perpetual private equity strategy will invest alongside funds managed by Blackstone Life Sciences.
