Emerging Obesity Biotech Metsera Secures Additional 5M for Extended-Release GLP-1 Therapeutics

Emerging Obesity Biotech Metsera Secures Additional 5M for Extended-Release GLP-1 Therapeutics

Emerging Obesity Biotech Metsera Secures Additional 5M for Extended-Release GLP-1 Therapeutics

Metsera is demonstrating that there is still potential for newcomers in the GLP-1 market. The startup, which is just seven months old, announced on Wednesday that it has secured an additional 5 million in a Series B funding round, following its 0 million funding raise in April. Its primary focus is on a GLP-1 candidate targeting obesity.

In September, the New York-based biotech announced positive results from a Phase I/II trial of MET-097i, a novel injectable GLP-1 receptor agonist intended to be administered monthly. Trial participants who received MET-097i experienced a 7.5% reduction in body weight from their starting point by day 36—a result that Metsera claims rivals or surpasses that of existing GLP-1 medications.

Notably, the trial did not include a dose escalation phase, which is a standard procedure for Eli Lilly’s Zepbound and Novo Nordisk’s Wegovy to mitigate common gastrointestinal side effects. According to Metsera, only mild side effects were reported during this initial trial.

In light of these encouraging results, the company is moving forward with a 16-week Phase II trial of MET-097i, with initial results expected in the first half of 2025. Metsera also plans to launch Phase III trials for MET-097i “shortly thereafter.”

The substantial interest from high-profile investors in the Series B round underscores the vitality of the obesity therapeutics field. The funding was led by Wellington Management and Venrock Healthcare Capital Partners, with Fidelity, T. Rowe Price, Viking Global Investors, RA Capital, and others joining as new investors. Existing investors, including ARCH Venture Partners and GV, also took part. To date, Metsera has raised over 0 million since its inception in April.

With an eye on future approvals, Metsera formed a supply agreement with Amneal Pharmaceuticals in October. While details remain limited, Amneal has been designated as Metsera’s “preferred supply partner” for its products in major markets, including the United States and Europe. Amneal is also set to license the commercialization of Metsera’s products in specific emerging markets.

Following MET-097i in the development pipeline are an oral GLP-1 RA peptide, MET-097, and MET-233i, a long-acting injectable amylin analog that may allow for monthly dosing for individuals with obesity and those overweight. The company boasts a comprehensive library of nutrient-stimulated hormone (NuSH) analog peptides from which several candidates are being advanced.

“We currently have three medicines in clinical development, with more to come, utilizing a best-in-class half-life extension technology and a potentially leading oral peptide delivery platform,” stated CEO Whit Bernard in an announcement on Wednesday.