Metsera has become the obesity drug market’s hottest ticket.<\/p>\n
The New York-based biotech is at the centre of a bidding war between Novo Nordisk and Pfizer, both vying for access to its pipeline of experimental treatments as competition intensifies in the booming $150 billion weight-loss drug market.
\nMetsera\u2019s lead candidate, MET-097i, is a once-monthly GLP-1 injectable.<\/p>\n
Unlike Novo’s Wegovy and Eli Lilly’s Zepbound, which are both weekly shots, it works by selectively binding to a protein pathway linked to weight loss and insulin release, potentially reducing side effects and dosing frequency.<\/p>\n
PROMISING CANDIDATES IN THE PIPELINE
\nLast month, data from a mid-stage study showed the highest dose of the drug helped patients lose an average of up to 14.1% of their body weight.<\/p>\n
Another early-stage candidate is MET 233i, a long-acting drug that targets the pancreatic hormone amylin which is co-secreted with insulin.<\/p>\n
Analysts at Leerink estimate the drugs could be worth more than $5 billion in peak annual sales.
\nFounded in 2022 by Population Health Partners and ARCH Venture Partners, the biotech venture giant led by Bob Nelsen, Metsera has drawn deep-pocketed backers including Google-parent Alphabet, which has a 5% stake.<\/p>\n
Nelsen’s ARCH is the top shareholder with a 25% stake. Clive Meanwell, one of the Population Health co-founders, is Metsera’s executive chairman.<\/p>\n
SoftBank and Mubadala Capital participated in a $290 million fundraising in 2024.
\nSince its market debut on Nasdaq in February at a $2.7 billion valuation, Metsera has doubled to $5.5 billion. Its shares on Thursday rose nearly 24%.<\/p>\n
Pfizer’s bid is worth $7.3 billion including milestones, while Novo’s is worth up to $9 billion.
\nAnother Population Health co-founder Ian Read also previously served as Pfizer CEO and chairman. He retired from Pfizer in 2019 and served as partner for the investment firm until at least September 2022.<\/p>\n
SIGNALLING A NEW PHASE IN OBESITY DRUG RACE
\nThe bidding may signal a new phase in the obesity drug race, which was ignited in 2021 by Novo’s launch of Wegovy, the first highly effective obesity drug approved in the U.S.<\/p>\n
The Danish company’s meteoric rise saw it catapulted to the top of Europe’s stock market and was worth about $650 billion at its peak last year.<\/p>\n
Since then, fierce competition from Lilly, and a flood of copycats have slowed Wegovy sales, knocking its share price by more than 60%.<\/p>\n
Lilly is the world’s most valuable healthcare company at about $770 billion. Its shares have risen 9.6% this year.
\nInvestor fervour for the market remains strong. On Thursday, the battle for Metsera boosted shares in its rivals, as investors hunted for the next breakout.<\/p>\n
Viking Therapeutics and Structure Therapeutics rose 9.5% and 6% respectively.<\/p>\n
Viking is developing oral and injectable GLP-1 treatments, while Structure is working on an oral weight-loss pill. Their treatments are ahead in development, compared to Metsera’s. Shares of Altimmune, which is developing the pemvidutide injection, also rose on Thursday, by 4.5%.<\/p>\n","protected":false},"excerpt":{"rendered":"
Metsera has become the obesity drug market’s hottest ticket. The New York-based biotech is at the centre of a bidding war between Novo Nordisk and Pfizer, both vying for access to its pipeline of experimental treatments as competition intensifies in the booming $150 billion weight-loss drug market. Metsera\u2019s lead candidate, MET-097i, is a once-monthly GLP-1 […]<\/p>\n","protected":false},"author":2,"featured_media":2372,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[37],"tags":[740,741],"class_list":{"0":"post-2371","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-sitefansalaran-industry-news","8":"tag-metsera-the-us-obesity-biotech-at-centre-of-novo","9":"tag-pfizer-bidding-war"},"yoast_head":"\n