Blackstone Life Sciences agreed to fund up to $1.5 billion tied to Pfizer’s ex-Metsera GLP-1 obesity candidate berobenatide, according to an advance readout summarized in STAT. The co-funding arrangement is structured to support development as the program moves through late-stage work. The financing underscores ongoing appetite for late-stage metabolic assets amid intense competition in obesity therapeutics, where dosing strategy and long-term outcomes are increasingly pivotal for payer and clinician adoption. For Pfizer, the structure provides additional runway around a pipeline that must show durable efficacy and differentiated safety/tolerability performance to sustain market momentum.