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Pfizer and Blackstone Life Sciences Announce Strategic Funding Agreement for Obesity Program

  • Pfizer and Blackstone Life Sciences announced a strategic co-funding agreement for the investigational drug berobenatide.
  • Blackstone will provide up to $1.5 billion in development costs to support Pfizer's clinical program through 2028.
  • Berobenatide is a potential first-in-class monthly GLP-1 receptor agonist peptide being studied for chronic weight management & obesity-related conditions.
  • Blackstone is eligible to receive milestone-based payments contingent on U.S. regulatory approval for monthly injectable dosing & achievement of specific commercial sales targets.
  • Pfizer retains full operational control & decision-making rights over the berobenatide program, with Blackstone acquiring no ownership rights.
  • Funds from Blackstone's perpetual private equity strategy (BXPE) will invest alongside Blackstone Life Sciences in this transaction.
  • Pfizer plans to advance over 20 trials for obesity & related comorbidities in 2026, including 10 Phase 3 trials for berobenatide.
  • Clinical development for berobenatide includes studies for knee osteoarthritis & obstructive sleep apnea as monotherapy or in combination with Nutrient-Stimulated Hormone peptides.