Pfizer and Blackstone Life Sciences have announced a strategic co-funding agreement where Blackstone will pay up to a total of $1.5bn of development costs until 2028 for berobenatide. This is an investigational, potential first-in-class monthly GLP-1 receptor agonist peptide being studied for chronic weight management and obesity-related conditions.
Pfizer plans to advance 20+ trials for obesity and related comorbidities in 2026. This includes ten ongoing and planned phase 3 trials for berobenatide (PF’3944), an investigational, potential first-in-class monthly GLP-1 receptor agonist (GLP-1 RA) peptide being studied for chronic weight management and obesity-related comorbidities including knee osteoarthritis and obstructive sleep apnea. The growing body of evidence supports advancing an extensive development programme for berobenatide as a monotherapy and in combination with various Nutrient-Stimulated Hormone (NuSH) peptides including amylin analogs.
Cecile Guegan, Chief Financial Officer and Executive Vice President of Pfizer, said: “Our aim is to bring important new medicines to patients while taking a disciplined approach that pairs internal research investments with targeted investment from capital partners. Today’s announcement helps us advance our comprehensive obesity programme and maintain the financial capacity and flexibility to invest in our broader pipeline across all therapeutic areas.”
In exchange for the funding, Blackstone will be eligible to receive milestone-based payments. The payments will depend on berobenatide getting US regulatory approval as a monthly injectable monotherapy for chronic weight management and reaching certain commercial sales milestones.
Any milestone payments, if earned, will be payable to Blackstone over a multi-year period. Under the agreement, Blackstone does not acquire any rights or ownership in berobenatide, and Pfizer retains full operational control and decision-making with respect to the berobenatide programme.
Nicholas Galakatos, Global Head of Blackstone Life Sciences, said: “We are pleased to further expand our relationship with Pfizer and support the broad and rigorous development of berobenatide as the anchor of Pfizer’s cardiometabolic pipeline.”