The Life Sciences Royalty Financing team represented Blackstone Life Sciences in its strategic co-funding agreement with Pfizer, under which funds managed by Blackstone will pay up to a total of $1.5 billion of development costs through 2028 for berobenatide, an investigational, potential first-in-class monthly GLP-1 receptor agonist peptide being studied by Pfizer for chronic weight management and obesity-related conditions. In exchange for the funding, Blackstone will be eligible to receive milestone-based payments, subject to US regulatory approval of monthly dosing of injectable berobenatide monotherapy for chronic weight management, and achievement of certain commercial sales milestones.

Blackstone Life Sciences is an industry-leading private investment platform with capabilities to invest across the life cycle of companies and products within the key life science sectors. By combining scale investments and hands-on operational leadership, Blackstone Life Sciences helps bring to market promising new medicines and medical technologies that improve patients’ lives.

The Goodwin team was led by Yasin Akbari, Shane Albright, and Bill Christiansen and included Kingsley Taft, Nancy Urizar, and Bartek Sudol (Life Sciences), Xixi Sun and Catherine Amaya (US IP), Colm Murphy and Hannah Claughton (EU IP), Susan Lee (Regulatory), Rob Carroll and Gabriella Montes (Litigation), Dan Karelitz (Tax), and Jackie Klosek (Privacy).

For more information on the deal, please read the press release.