Metsera, a U.S.-based biotech company focused on developing novel therapies for weight loss, has secured $215 million in a Series B funding round. This substantial investment will be used to further advance its portfolio of glucagon-like peptide-1 receptor agonists (GLP-1RAs), including injectable and oral formulations.
Funding and Portfolio Expansion
The Series B round was led by Wellington Management and Venrock Healthcare Capital Partners, with participation from new investors such as Fidelity Management & Research Company and Janus Henderson Investors. Existing investors, including Arch Venture Partners and SoftBank Vision Fund 2, also contributed. This latest funding brings Metsera's total capital raised to over $500 million since its inception in 2022.
Metsera's portfolio is spearheaded by MET-097i, a long-acting injectable GLP-1RA. Phase I data presented in September demonstrated promising results, with patients on the 1.2mg dose experiencing a 7.5% reduction in body weight over 36 days with weekly injections. Furthermore, a 13-week randomized extension trial is ongoing, and a 16-week Phase II trial in overweight and obese patients has been initiated, with preliminary data anticipated in the first half of 2025. If these trials yield positive outcomes, Metsera intends to move rapidly into Phase III trials.
In addition to MET-097i, Metsera is also developing MET-233i, an "ultra-long acting injectable" designed for monthly administration, and MET-002, an oral GLP-1RA. The company plans to investigate the potential of combining these therapies to achieve even greater weight loss effects.
Manufacturing and Market Outlook
Beyond clinical development, Metsera has established a partnership with Amneal to support the manufacturing and large-scale supply of its weight loss medicines. As part of this collaboration, Amneal will construct two new manufacturing facilities in India, one for peptide synthesis and another for sterile fill-finish manufacturing.
The market for GLP-1RA therapies is projected to reach $168 billion across 68 pharmaceutical markets by 2033, according to GlobalData analysis. With the increasing prevalence of obesity and the growing demand for effective weight loss solutions, Metsera is well-positioned to capitalize on this expanding market.
Competitive Landscape
Metsera's efforts come amid intense competition in the obesity treatment space, spurred by the success of drugs like Novo Nordisk's Wegovy (semaglutide) and Eli Lilly's Zepbound (tirzepatide). These medications have demonstrated significant weight loss in clinical trials, leading to high demand and substantial revenue for their manufacturers. Metsera aims to differentiate itself by offering a range of GLP-1RA therapies with varying dosing schedules and routes of administration, potentially providing more convenient and effective options for patients.
