Pfizer secures up to $1.5 billion from Blackstone for obesity drug development
PFE•Pfizer said Blackstone would provide up to $1.5 billion through 2028 to help fund development of experimental monthly obesity treatment berobenatide. Blackstone may receive milestone-based payments but will have no rights or ownership in the drug.
1. Funding arrangement
Blackstone will provide up to $1.5 billion through 2028 to help fund development of berobenatide, an experimental monthly obesity treatment Pfizer acquired with Metsera last year. Pfizer said the deal gives it more flexibility to invest in its broader pipeline while retaining full control of the drug’s development program.
2. Milestone payments
Blackstone will be eligible for milestone-based payments, whose size the companies did not disclose. Payments will depend on US regulatory approval of monthly dosing of injectable berobenatide monotherapy for chronic weight management and achievement of certain commercial sales milestones.
