Blackstone partners with Pfizer to fund obesity drug development with up to $1.5 billion
BX•Blackstone Life Sciences agreed to provide Pfizer up to $1.5 billion through 2028 to fund development of berobenatide, an investigational monthly GLP-1 receptor agonist.
1. Funding for development
Blackstone Life Sciences agreed to provide Pfizer up to $1.5 billion through 2028 to fund berobenatide development. Payments depend on U.S. approval of monthly injectable berobenatide monotherapy for chronic weight management and on commercial sales milestones. Pfizer retains operational control and decision-making, while the funding partner receives no rights or ownership in the drug.
