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- Metsera
Metsera Acquisition, Valuation, Funding & Investors
Metsera was acquired by Pfizer for $4.9B in September 2025.
Cumulative funding Metsera raised
$505M
across 2 funding rounds
Key investors in Metsera
GV
SoftBank Group
F-Prime
ARCH Venture Partners
Wellington Management
Mubadala
Venrock Healthcare Capital Partners
Newpath Management
About Metsera
Metsera is a biotechnology company developing oral and injectable therapies targeting nutrient-stimulated hormones for obesity and metabolic disorders. Headquartered in the San Francisco Bay Area, the firm advances a pipeline of peptide-based candidates through clinical stages.
Founded
2022
HQ
Website
Status
Acquired
Customer focus
B2B
Revenue model
Licensing
Valuation
$4.9B (acquired Sep 2025)
Sectors
Metsera Acquisition
Metsera was acquired by Pfizer for $4.9B on 22 September 2025.
Before the acquisition Metsera had raised $505M across 2 funding rounds.
Metsera, a clinical-stage biopharmaceutical company developing next-generation oral and injectable incretin, non-incretin, and combination therapies for obesity and cardiometabolic diseases, including GLP-1 receptor agonist MET-097, long-acting amylin analog MET-233, and their combination MET-097i+MET-233i, was acquired by Pfizer. Pfizer, a global pharmaceutical giant, completed the acquisition on November 13, 2025, making Metsera a wholly owned subsidiary after its shares ceased trading on NASDAQ. The deal followed Pfizer's initial September 2025 agreement at $47.50 per share ($4.9 billion enterprise value), escalated by a bidding war with Novo Nordisk, which offered $6.5 billion but faced FTC antitrust concerns over its dominant obesity market position with Wegovy. Pfizer paid $65.60 per share upfront, valuing the enterprise at approximately $7.0 billion, plus a contingent value right (CVR) of up to $20.65 per share tied to three milestones: Phase 3 start of MET-097i+MET-233i combination ($5/share), FDA approval of monthly MET-097i monotherapy ($7/share), and FDA approval of monthly MET-097i+MET-233i combination ($10.50/share), for a potential total of $10 billion. The transaction, cleared by the FTC, positions Pfizer to lead in the high-growth obesity sector by complementing its internal medicine portfolio with Metsera's differentiated candidates, leveraging Pfizer's expertise in large-scale trials, manufacturing, and commercialization; CEO Albert Bourla noted therapies could reach market by 2028. The deal is expected to dilute earnings through 2030 due to investments in late-stage pipeline advancement amid competitive dynamics with established players like Novo.
| Acquirer | Date | Type | Price |
|---|---|---|---|
| 22 Sep 2025 | Strategic M&A | $4.9B |
Metsera Funding History
Metsera has raised a total of $505M across 2 funding rounds.
Metsera's first fundraising round was a $290M Series A in April 2024. The most recent completed round was a $215M Series B in November 2024.
Metsera funding rounds
| Date | Stage | Investors | Raised | Deal Summary |
|---|---|---|---|---|
| Nov 2024 | Series B | Venrock Healthcare Capital Partners (lead); Wellington Management (lead) | $215M | Metsera, Inc. is a clinical-stage biotechnology company developing next-generation therapies for obesity and metabolic diseases, with a portfolio including MET-097 and other peptide-based assets aimed at improving weight maintenance, muscle preservation, dosing frequency, efficacy, tolerability, and patient access beyond current leaders like Wegovy and Zepbound. The company launched in April 2024 with $290 million in Series A financing led by ARCH Venture Partners and others including F-Prime Capital, GV, Mubadala Capital, Newpath Partners, and SoftBank Vision Fund 2. In early January 2025, MET-097 showed 1.3% mean placebo-adjusted weight loss at 12 weeks in Phase II, leading to a successful Nasdaq IPO under MTSR, raising $255.8 million in net proceeds at $18 per share, with shares later rising significantly to over $73. Post-round, Metsera reported $352.4 million in cash, cash equivalents, and marketable securities as of December 31, 2024, up from $75.2 million in 2023, expected to fund operations into 2027 alongside IPO proceeds. The company later faced acquisition interest, culminating in Pfizer completing the purchase of Metsera and its portfolio, as announced by CEO Albert Bourla, amid competitive dynamics with rivals like Novo Nordisk. |
| Apr 2024 | Series A | ARCH Venture Partners (lead); Newpath Management; GV; SoftBank Group; F-Prime; Mubadala | $290M | Metsera, a New York-based clinical-stage biotech founded in 2022 by Population Health Partners and ARCH Venture Partners, emerged from stealth on April 18, 2024, with $290 million in seed and Series A financing led by ARCH Venture Partners. Participating investors included F-Prime Capital, GV, Mubadala Capital, Newpath Partners, SoftBank Vision Fund 2, and others. The funding supports development of a pipeline of oral and injectable therapies for obesity and metabolic diseases, including a GLP-1 receptor agonist in Phase I, a dual amylin/calcitonin receptor agonist, unimolecular GLP-1/GIP/glucagon combos, and an oral peptide delivery platform with IND-ready candidates. The company's portfolio draws from a proprietary library of 20,000 gut hormone peptides and conjugates, with recent licensing of candidates from South Korean biotech D&D Pharmatech in a deal worth over 1 trillion Korean won ($740 million) in fees and milestones. Led by CEO Clive Meanwell, formerly of The Medicines Company (acquired by Novartis for $9.7 billion), Metsera aims to address next-generation needs like weight maintenance, muscle preservation, less-frequent dosing, and improved efficacy beyond current GLP-1 leaders from Novo Nordisk and Eli Lilly. Subsequently, Metsera raised a $215 million Series B in late 2024 led by Wellington Management and Venrock, bringing total funding over $500 million. Later developments include a Nasdaq IPO, additional venture funding with ARCH as largest stakeholder, and a $10 billion acquisition by Pfizer after a bidding war with Novo Nordisk. |
Who has invested in Metsera?
8 investors have backed Metsera across its funding rounds, including GV, SoftBank Group, F-Prime, ARCH Venture Partners, Wellington Management and Mubadala.
Lead investors include Venrock Healthcare Capital Partners, Wellington Management and ARCH Venture Partners.
Metsera Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 1 | Lead | Nov 2024 | ||
| 1 | Participant | Apr 2024 | ||
| 1 | Participant | Apr 2024 | ||
| 1 | Participant | Apr 2024 | ||
| 1 | Participant | Apr 2024 | ||
| 1 | Participant | Apr 2024 | ||
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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialAcquisitions by Metsera
Metsera has acquired 1 company to date.
Last acquisition by Metsera was on January 1st 2023. Metsera acquired Zihipp for undisclosed valuation.
Latest Acquisitions by Metsera
| Description | Zihipp is a biotechnology firm developing weight loss therapies targeting obesity and diabetes for women, men, and adults. The company provides specialized treatment protocols using peptide-based interventions delivered via telehealth consultations. |
| HQ Country | |
| HQ City | London |
| Deal Date | 1 Jan 2023 |
| Valuation | undisclosed |
| EV/Revenue | |
| EV/EBITDA | |
This data is available for Pro users. Sign up to see all Metsera acquisitions and their M&A valuation multiples. Start Free Trial | |
Metsera Competitors
Metsera competitors include listed companies like GSK India, Shanghai RAAS, Gland Pharma and Hanmi Pharm, and private ones like Biocon Biologics and Intas Pharmaceuticals.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Publicly listed | $397M | $148M | $4.9B | 11.1x | ||
| Publicly listed | $1.1B | $315M | $4.8B | - | ||
| Publicly listed | $668M | $179M | $5B | 6.5x | ||
| Publicly listed | $1.1B | $234M | $4.8B | 4.0x | ||
| Private | $1.1B | - | $4.5B | 4.2x | ||
| Private | $2B | - | $4.3B | 2.1x |
Metsera Public Comps
Metsera is no longer listed, but its public comps include GSK India, Shanghai RAAS, Gland Pharma, Salubris Pharmaceuticals, Hanmi Pharm, Parabilis Medicines, Beijing Tongrentang, 3SBio, ACADIA Pharmaceuticals and Wantai BioPharm.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $397M | $148M | 11.7x | 11.1x | 31.5x | 32.0x | |||
| $1.1B | $315M | 4.7x | - | 16.2x | - | |||
| $668M | $179M | 7.0x | 6.5x | 26.2x | 24.9x | |||
| $649M | $155M | 7.6x | 6.6x | 31.8x | 28.3x | |||
| $1.1B | $234M | 4.3x | 4.0x | 20.9x | 15.5x | |||
| - | ($145M) | - | - | (27.4x) | - | |||
| $2.6B | $447M | 1.8x | 1.9x | 10.6x | 12.7x | |||
| $2.6B | $1.6B | 1.2x | 1.8x | 1.9x | 3.9x | |||
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Common questions about Metsera
| When was Metsera founded? | Metsera was founded in 2022. |
| Where is Metsera headquartered? | Metsera is headquartered in New York City, NY, United States. |
| Is Metsera publicly listed? | No, Metsera was acquired by Pfizer in September 2025. |
| Who acquired Metsera? | Metsera was acquired by Pfizer in September 2025. |
| How much was Metsera acquired for? | Metsera was acquired for $4.9B in September 2025. |
| How much funding has Metsera raised? | Metsera has raised $505M across 2 funding rounds. |
| What was Metsera's last funding round? | Metsera's last funding round was a $215M Series B in November 2024, led by Venrock Healthcare Capital Partners and Wellington Management. |
| Who are Metsera's investors? | Metsera's investors include Wellington Management, Newpath Management, GV, SoftBank Group, F-Prime, Mubadala, Venrock Healthcare Capital Partners and ARCH Venture Partners. |
| Which companies are comparable to Metsera? | Companies comparable to Metsera include GSK India, Shanghai RAAS, Gland Pharma, Hanmi Pharm, Biocon Biologics and Intas Pharmaceuticals. |
| How many companies has Metsera acquired? | Metsera has acquired 1 company, including Zihipp. |
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