Metsera is a clinical-stage biotechnology company developing injectable and oral peptide drugs to treat obesity and overweight. The company has no approved products and generates no revenue, funding operations entirely through equity financing. Metsera's pipeline centers on next-generation GLP-1 receptor agonists (GLP-1 RAs) — the same drug class as Wegovy and Zepbound — along with complementary peptides (amylin, GIP, glucagon, and PYY analogs) designed to be combined with GLP-1 RAs. Metsera's lead candidate, MET-097i, is a subcutaneous injectable GLP-1 RA with a half-life of roughly 15–16 days, approximately 2–3x longer than semaglutide or tirzepatide, which Metsera argues enables monthly dosing and simplified titration. Two Phase 2b trials (VESPER-1 and VESPER-2) are underway, with VESPER-1 data expected mid-2025. Metsera is also developing MET-233i, an injectable amylin analog designed for co-formulation with MET-097i, and oral GLP-1 RA candidates (MET-224o and MET-097o) using its MOMENTUM oral delivery platform. Key molecules are in-licensed from IP2IPO Innovations (Imperial College London) and D&D Pharmatech. Metsera has a supply agreement with Amneal to build dedicated manufacturing facilities in India, with Metsera committing up to $100M to fund construction. If products reach approval, Metsera plans to commercialize in the U.S. and Europe, independently or with partners.