Mutual funds and top VCs back biopharma with clinical trials of oral and ‘ultra-long-acting’ injectable GLP-1 therapies underway.
Clinical-stage biopharma Metsera has announced the close of a $215 million Series B financing round to ramp development of its portfolio of treatments for obesity and metabolic diseases. The funding, which brings the company’s total funding to more than $500 million to date, was backed by a host of top mutual funds and VCs, led by Wellington Management and Venrock Healthcare Capital Partners.
Founded in 2022 by Population Health Partners and ARCH Venture Partners, Metsera only officially launched earlier this year and is developing next-generation medicines using nutrient-stimulated hormone (NuSH) analog peptides, with a portfolio encompassing both oral and injectable incretin and non-incretin therapies.
NuSH peptides include GLP-1 agonists, like Ozempic/Wegovy, which are increasingly garnering attention for their potential to influence longevity. It appears GLP-1s not only promote weight loss and help prevent diabetes but have also shown potential in reducing cardiovascular complications, providing neuroprotective effects, and even demonstrating promise in addiction treatment. With advanced GLP-1 programs, as well as amylin and other NuSH analogs, Metsera is emerging as a potentially key player in the next generation of development in this exciting area of drug development.
Leading Metsera’s clinical pipeline is MET-097i, an ultra-long-acting, fully biased GLP-1 receptor agonist designed for once-monthly subcutaneous injection, compared with weekly injections with the likes of Ozempic. MET-097i has already shown promising results in early trials, with data from a Phase 1/2 study demonstrating that the drug achieved significant and durable weight loss. The company is now advancing MET-097i into a 16-week Phase 2 trial, with preliminary results anticipated in early 2025. A 13-week extension of the initial Phase 1/2 trial is also ongoing, with potential Phase 3 trials expected to follow successful outcomes.
Metsera has also commenced trials of MET-233i, an ultra-long-acting amylin analog developed for potential once-monthly injectable dosing. The compound mimics the action of amylin, a hormone that helps regulate blood glucose levels, and the company says it is designed to potentially be used in combination with MET-097i. Beyond injectables, Metsera is also exploring oral therapeutic solutions. The company has initiated clinical trials for MET-002, an oral GLP-1 RA peptide.
Central to Metsera’s approach is a proprietary platform that the company says allows it to develop oral peptides at lower doses while still achieving high efficacy and tolerability. Additionally, the company claims it has developed a cutting-edge lipidation platform technology, allowing its peptides to achieve titration-free and monthly dosing while offering improved tolerability and scalability.
Metsera says it has assembled a peptide library comprising approximately 20,000 NuSH analog peptides, including additional therapies targeting pathways such as glucagon and peptide YY. The company is also researching multi-NuSH combinations to maximize therapeutic outcomes, with ongoing studies assessing the synergistic effects of these candidates.
“Building on over twenty years of research, in the past two years Metsera has constructed a leading portfolio, initiated a large-scale manufacturing partnership, and assembled a high-performing, agile team,” said Metsera CEO Whit Bernard. “We now have three medicines in the clinic with more to come, based on a best-in-class half-life extension technology and a potential best-in-class oral peptide delivery platform.”
