Metsera, a Phase 2 biotech developing nutrient stimulated hormone analog peptides for obesity, announced terms for its IPO on Monday.
The New York, NY-based company plans to raise $275 million by offering 17.2 million shares at a price range of $15 to $17. At the midpoint of the proposed range, Metsera would command a fully diluted market value of $1.8 billion.
Metsera is focused on developing next-generation injectable and oral nutrient stimulated hormone (NuSH) analog peptides to treat obesity, overweight, and related conditions. Its most advanced candidate, MET-097i is a fully biased, monthly, subcutaneously injectable ultra-long acting GLP-1 RA for the treatment of obesity and overweight. The company has initiated a Phase 2b trial of MET-097i assessing safety and efficacy at different weekly doses in participants with obesity or overweight without type 2 diabetes, and it expects to report preliminary data from this trial in mid 2025. It plans to separately initiate a Phase 2b study in participants with obesity or overweight with T2D.
Metsera was founded in 2022 and plans to list on the Nasdaq under the symbol MTSR. BofA Securities, Goldman Sachs, Evercore ISI, Guggenheim Securities, and Cantor Fitzgerald are the joint bookrunners on the deal. It is expected to price during the week of January 27, 2025.
