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Global drugmaker wins race for candidates invented by GLP-1 pioneer Professor Steve Bloom, positioning it to lead the way in next-generation obesity treatments.

Pfizer has completed its deal to acquire US biotechnology startup Metsera at a valuation of up to $10 billion for obesity drug candidates invented at ³Ô¹ÏºÚÁÏ.  

"The acquisition is testament to Professor Steve Bloom's expertise. It also reflects ³Ô¹ÏºÚÁÏ’s world-class science and translation – which is yielding therapeutic candidates that could transform lives." Dr Mike Romanos Associate Dean for Enterprise (Medicine), ³Ô¹ÏºÚÁÏ

Metsera’s portfolio includes three experimental drugs first developed by ³Ô¹ÏºÚÁÏ and its spinout Zihipp, the most advanced of which is a GLP-1 therapeutic candidate set to begin Phase 3 development. 

Metsera was formed in 2022 to acquire and clinically progress promising obesity solutions, and a year later acquired the ³Ô¹ÏºÚÁÏ 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 successfully completed the acquisition following competition from Novo Nordisk. Pfizer and Metsera say that MET-097i – now named PF’3944 – 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.  

Origins at ³Ô¹ÏºÚÁÏ 

The Zihipp drug candidate that became MET-097i was invented by , a globally renowned researcher from ³Ô¹ÏºÚÁÏ’s Department of Metabolism, Digestion & Reproduction, whose discovery published in 1996 that GLP-1 affects appetite sparked the revolution in obesity treatment using GLP-1 drugs. 

At ³Ô¹ÏºÚÁÏ, he and his team built up a library of 20,000 peptides that mimic hormones, which they used to identify and then validate the three drug candidates. The package of medicines and discovery platform was licensed to his ³Ô¹ÏºÚÁÏ spinout Zihipp. After Zihipp was acquired by Metsera, he became Metsera’s vice president of R&D. 

Metsera also obtained an ³Ô¹ÏºÚÁÏ 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 ³Ô¹ÏºÚÁÏ with the university set to potentially receive royalties based on future product sales. 
 
³Ô¹ÏºÚÁÏ will receive the royalties through a revenue share with IP Group plc, which owned ³Ô¹ÏºÚÁÏ's external tech transfer office before the university brought its technology transfer function in-house. 

Dr Mike Romanos, Associate Dean for Enterprise (Medicine) at ³Ô¹ÏºÚÁÏ, said: “With ³Ô¹ÏºÚÁÏ 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 ³Ô¹ÏºÚÁÏ’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.” 

Professor Bloom and his group carried out initial studies to build the library of peptides at the ³Ô¹ÏºÚÁÏ Biomedical Research Centre with funding from the ³Ô¹ÏºÚÁÏ NIHR Clinical Research Facility. They later received support to commercialise their discoveries from ³Ô¹ÏºÚÁÏ Enterprise. 

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 deal, Pfizer has paid $65.60 per share, valuing Metsera at around $7 billion.   

Pfizer will make additional payments when MET-097i (PF’3944) reaches milestones such as Federal Drug Administration approval, both on its own and in combination with MET-233i, potentially extending the valuation to around $10 billion.  

Photos: Thomas Angus/³Ô¹ÏºÚÁÏ