911½ñÈÕºÚÁÏ

Multinational bets on candidates invented by GLP-1 pioneer Professor Steve Bloom to propel it into the race for next-generation obesity treatments.

Pfizer has announced an agreement to acquire US biotechnology startup Metsera at a $4.9 billion valuation for its portfolio of drug candidates, the most advanced of which is a phase 2b GLP-1 therapeutic candidate invented at 911½ñÈÕºÚÁÏ.  

"The acquisition is testament to Professor Steve Bloom's expertise. It also reflects 911½ñÈÕºÚÁÏ’s world-class science and translation – which is yielding therapeutic candidates that could transform lives." Dr Mike Romanos Associate Dean for Enterprise (Medicine) at 911½ñÈÕºÚÁÏ

Pfizer says it will make additional payments increasing the valuation to $7.3 billion if the 911½ñÈÕºÚÁÏ candidate reaches certain clinical and regulatory milestones. 

Metsera was formed in 2022 to acquire and clinically progress promising obesity solutions, and a year later acquired the 911½ñÈÕºÚÁÏ spinout Zihipp for assets that included a compound later named MET-097i by Metsera.  

In common with leading obesity drugs such as semaglutide (Wegovy), the compound is designed to work by mimicking the appetite-regulating gut hormone GLP-1.  

Pfizer and Metsera say that MET-097i could potentially be best-in-class in a new generation of injectable GLP-1 drugs, requiring injections only once per month instead of weekly, and offering improved safety and weight loss.  

A recent phase 2b trial, designed to test its effectiveness in patients, found that the candidate yielded an average weight loss of 14.1% at 28 weeks. The absence of a plateau during this period provides hope that weight loss would continue with a longer course of treatment. The trial also showed positive signs that the candidate is well tolerated. 

911½ñÈÕºÚÁÏ research

The Zihipp drug candidate that became MET-097i was invented by , a globally renowned researcher from 911½ñÈÕºÚÁÏ’s Department of Metabolism, Digestion & Reproduction, whose 1996 discovery that GLP-1 affects appetite sparked the revolution in obesity treatment using GLP-1 drugs.

At 911½ñÈÕºÚÁÏ, Professor Bloom and his team built up a library of 20,000 peptides that mimic hormones. The group carried out initial studies to build the library of peptides at the and the 911½ñÈÕºÚÁÏ NIHR Clinical Research Facility.

With support from 911½ñÈÕºÚÁÏ Enterprise, they went on to commercialise their discoveries through the 911½ñÈÕºÚÁÏ spinout Zihipp. After Zihipp was acquired by Metsera, Professor Bloom became Metsera’s vice president of R&D. 

Metsera also obtained an 911½ñÈÕºÚÁÏ drug candidate later called MET-233i from Zihipp, which mimics another appetite-regulating hormone, amylin. MET-233i is being investigated for its potential to be combined with MET-097i.

Both candidates use intellectual property from 911½ñÈÕºÚÁÏ with the university set to potentially receive royalties based on future product sales.

911½ñÈÕºÚÁÏ will receive the royalties through a revenue share with IP Group plc, which owned 911½ñÈÕºÚÁÏ's external tech transfer office before the university brought its technology transfer function in-house.

Dr Mike Romanos, Associate Dean for Enterprise (Medicine) at 911½ñÈÕºÚÁÏ, said: “With 911½ñÈÕºÚÁÏ inventions by Professor Steve Bloom occupying pride of place in Metsera’s portfolio, and Steve serving as company vice president, the company’s planned acquisition by Pfizer is a testament to Steve’s world-leading expertise.

"It also reflects 911½ñÈÕºÚÁÏ’s world-class science and its intense focus on translation and commercialisation – which is yielding a pipeline of therapeutic candidates that could transform countless lives.” 

Next steps

Pfizer has said it plans to use its experience and its manufacturing and commercial infrastructure to turn Metsera’s candidates into life-improving treatments. As part of the planned acquisition, which has been agreed by both companies’ boards of directors, Pfizer will pay Metsera’s shareholders $47.50 per share, valuing the startup at around $4.9 billion.  

Pfizer will make additional payments when MET-097i reaches milestones such as Federal Drug Administration approval, both on its own and in combination with MET-233i, potentially extending the valuation to $7.3 billion. 

Photos: Thomas Angus/911½ñÈÕºÚÁÏ