Metsera: Pioneering the Future of Obesity Therapeutics

For over seven years, our healthcare team has been expanding our ventures business, supporting companies that are revolutionizing healthcare globally and enabling patients to lead healthier, longer lives. A few years ago, the field of bariatrics, otherwise known as the field of obesity therapeutics, caught our interest as we began studying the causes, prevention, and impact of obesity.

The global obesity rate has been steadily increasing, with recent data showing that more than 650 million adults, about 13% of the world’s population, are obese. This prevalence necessitates an urgent focus on interventions because obesity can lead to life-long and life-threatening diseases, including hypertension, Type 2 Diabetes, metabolic disorders, and other inflammatory diseases. This spectrum of serious co-morbidities also places a high burden on healthcare systems and nations worldwide. As we looked at the impact of obesity, it became clear it was critical for us to make an investment in the space.

There is tremendous potential in weight-loss drugs that target glucagon-like peptide 1, GLP-1 for short. Despite the success of currently available GLP-1 agonists such as Novo Nordisk’s Ozempic and Lilly’s Wegovy, we could not find a company working to overcome the impacts of excess weight that also incorporated capabilities to tackle challenges related to manufacturing, clinical development, and commercialization. So, we partnered with leading investors to create one. Metsera is a clinical stage cardiometabolic company focusing on obesity as an initial step in confronting chronic inflammatory diseases that shorten the lifespan. This week, the company announced their $290 million Series A financing round.

But our story with the company began a few years ago.

Back in 2020, Mubadala invested in ZiHipp, a startup founded by Professor Stephen Bloom. Fast forward a couple of years, and the Mubadala Capital Ventures team became part of the founding syndicate in Metsera. This investment strategy came full circle when Metsera acquired ZiHipp last year, establishing itself as a leading entity in the metabolic disease sector.

But this is not just a financing story. It is a deeply personal one as well. As a user of the therapeutic that exists on the market today, I can attest to the tremendous value that this therapy has had on my lifestyle, my health, and my life. In January 2023, my weight stood at 317 pounds, accompanied by elevated A1c levels and concerning triglyceride readings, indicative of an impending metabolic syndrome. Following numerous unsuccessful weight loss attempts, I commenced treatment with Mounjaro in September. By March 2024, I had achieved an 80-pound weight reduction, normalized my A1c levels, and improved my triglyceride profile. Concurrently, I experienced common side effects such as muscle loss and gastrointestinal discomfort. Despite these adverse effects, which necessitate careful management, the benefits of this medication appear to surpass its risks. In search of a pharmaceutical company that could enhance these therapeutic benefits while mitigating side effects, I spoke to Clive Meanwell, about starting Metsera.

Before the widespread use of GLP-1 treatments for weight loss, which began in earnest in 2021, obesity management was largely restricted to dietary modifications, increased physical activity, or bariatric surgery and other surgical intervention. However, GLP-1 therapeutics like Novo Nordisk’s Ozempic and Lilly’s Wegovy have ushered in a new era, radically transforming treatment options for obesity and its related conditions.

Metsera’s approach to treating obesity-related diseases that shorten the lifespan is multifaceted. They are digging deeper into the science of GLP-1 to uncover new therapeutic targets and create more effective and affordable treatments. In parallel, they are pushing the envelope in drug delivery systems to enhance patient experience and compliance — key factors in long-term treatment success.

The global weight loss market is expected to reach over $100 billion by 2032, and there remains significant opportunity for disruption. Existing GLP-1 therapies are limited by their side effects, most commonly muscle loss and gastrointestinal issues, and by dosing protocols. Available GLP-1 therapies are also out of reach for many people who would benefit from them due to prohibitive costs.

Metsera will focus on incretins, which are the hormones released from by the gut into the bloodstream after eating, in addition to novel mechanisms for weight loss by leveraging Stephen Bloom’s decades of research on the molecular underpinnings of obesity and diabetes. These molecules are hormones, like GLP-1, in the gut and body; in the brain, they are neurotransmitters. As a result of Bloom’s research and leadership, ZiHipp has generated a library of 20,000 peptides known to be involved in weight regulation. Using this library, Metsera will be able to mix and match peptides in creating novel therapies that maximize weight loss benefits to patients while minimizing side effects.

Under the leadership of my friend and Metsera CEO, Clive Meanwell, known for bringing multiple therapeutics to market, and bolstered by an executive team that includes COO Whit Bernard and CFO Chris Cox, Metsera is poised to make significant waves in the industry. The executive team is also further reinforced with former senior pharmaceutical leaders including Ian Read, ex-CEO of Pfizer, and John Maraganore, ex-CEO of Alnylam, who will serve as directors. Outside of the world-class team, Clive has put together a top-tier investor syndicate, with partners including Mubadala Capital, ARCH Ventures, GV, ADIA and Newpath Partners.

I was honored to host Clive and Stephen Bloom, the founder of ZiHipp, for a fireside chat a few weeks ago. Listen to it here.